The real estate home inspection process is a crucial element in selling or buying a home. But because it is so important, there is often stress and uncertainty involved. Big decisions like buying or selling a house require tremendous patience, especially while waiting for the home inspection.
Your Roost Real Estate agent will be by your side during the process and will ensure you receive a quality home inspection. If you are ready to sell or buy, our team is here to help.
Why Do You Need a Real Estate Home Inspection?
Unless you are making a cash payment for the property, you will have a lender offering you a mortgage loan. The lender will require a quality home inspection. This step is non-negotiable when you are borrowing money to buy the property. Since most people fall into this category, almost every real estate transaction includes an inspection.
In addition to it being a required part of the buying process, an inspection gives you valuable information about the house or condo. You are about to make one of the most significant purchases of your life. You deserve to have as many details as possible before you sign on the dotted line.
The home inspection always happens before you seal the deal. You will have a full report on any concerns with the property before you move forward.
Who Is Responsible For the Home Inspection?
Typically the buyer is the one responsible for paying for an inspection. Your realtor can recommend a qualified professional to do the job and will usually handle the scheduling, as well.
Occasionally a seller will pay for a real estate inspection before listing the property. They may want to know what repairs or updates are necessary to get top dollar or to avoid a lengthy sale. As the buyer, you can accept their report or hire an inspector of your choosing.
Your agent will likely be on-site for the inspection, and they may recommend that you join them. But it is not a requirement for you to be there. You will receive the full report so that you can review it with your agent.
What Do Home Inspectors Look at In a Home?
You can expect the home inspector to do an extensive examination of the property. The process can take several hours to complete. They will look at many things, including:
- Windows and Doors
- Washer and Dryer (if included in the sale)
This list is certainly not exhaustive. Your inspection report is likely to have hundreds of checkboxes on it since there is almost no stone unturned in the process.
And it’s also important to note that the inspector is not a specialist in these systems and appliances. Their job is to give you an overview. For example, they can verify that the furnace turns on when they set it to do so. But they are not doing a thorough furnace inspection the way an HVAC specialist would. Or they can give you a rough idea of the roof’s condition, but they are not a roofing expert.
Some components are not part of a real estate home inspection. Generally, it will not include:
- Sewer Lines
- Septic Tank
Many real estate agents recommend a separate inspection on the sewer lines, and some lenders require it.
What Happens After the Inspection?
Most professionals have their report to you within 24 hours of completing the inspection. One thing to keep in mind as you get the list of findings is that it will be lengthy. Sometimes buyers feel disheartened when they see comments such as “average” or “defective” describing the home they are excited to claim. That does not mean you are getting a faulty house!
It merely means the inspector did their job and went over things with a fine-toothed comb. The list of “defects” can run into triple digits, especially on older homes. But many of those will be minor and unimportant to the sale of the property.
A real estate home inspection gives you a picture of a house or condo’s integrity and quality. This step is vital for the buyer and seller. Your real estate agent will go over the findings with you. Together, you can decide if you want to ask the seller to make any repairs.
If you decide to pursue any repairs after you get the report, keep in mind one crucial piece of information. It is unethical and usually illegal for an inspector to offer to do the repairs on the property. This situation presents an overt conflict of interest and is not acceptable.
As a Seller, How Can I Get the Best Inspection Results?
The home inspection can be equally nerve-wracking for the seller and the buyer. After all, if significant problems show up, the sale could be in jeopardy. If you are in the seller’s shoes, take some time to prepare for the inspection.
Make sure the examiner will have easy access to the roof, attic, and crawl space. Clear brush away from the foundation, so they can see it well. Make sure each room has functional lights, if possible. Anything that hinders the inspector from making a full report could raise red flags for the buyer.
If there are little projects you have meant to do, it might be a good idea to accomplish those. Remember, cosmetic updates are not in play here. But do you have a bathroom fan that isn’t working? Consider replacing it. Are there loose door handles that need tightening? Take care of those.
If you know the house has a substantial issue, such as roof damage or windows with broken seals, be prepared to hear from the buyer. Work with your agent to have a plan. You should consider how much you are willing to do or how much you will reduce the asking price to keep the sale moving forward.
We’ll Guide You Right Through the Whole Process
Real estate transactions take time. But with an expert agent on your side, it can go more quickly so that you are signing papers as soon as possible. Reach out to the team at Roost to see how we can help you today.