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If endlessly searching the MLS and spending every Sunday at open houses is the way to find a home, then getting it inspected is the way to know exactly what you’re buying. Long story short: Don’t skip this step. We turned to Arline Klatte, a real estate agent at TRI/Coldwell Banker, and Benjamin Blount, an accredited home inspector, for tips on what to expect from an inspection and what to do about the results.
Once you enter into contract with a seller, you typically have three to 10 days to complete the inspection process and ask for any repairs or changes to the agreed-on price.
Finding the right home inspector is crucial. Ideally, an inspector is a neutral party—but in reality this isn’t always the case. According to Blount, “there are lots of inspectors out there who do not avoid conflicts of interest.” Klatte suggests turning to your real estate agent. “Reputable agents know the best inspectors in town from working with all of them,” she says.
The inspector will examine the property’s roof, foundation, heating-and-cooling system and water-and-plumbing system. He or she also looks for structural problems. Blount says the process usually takes about two hours and costs about $500 for an average home.
The results fall into two categories: violations and problems. “Code violations usually refer to health and safety issues,” explains Blount. These frequently include unstrapped and unelevated water heaters and a lack of smoke detectors, sprinkler systems, hand railings, garage-door sensors and ventilation. The seller must resolve any violations relating to permits or fire hazards before escrow closes.
Problems, however, may be repaired at the buyer’s or seller’s discretion. These can include any issues not disclosed prior to entering into the contract: foundation or roof problems, dry rot, etc. Review them with your agent, then decide which ones are most important to you and whether you want to ask the seller to fix the problem or adjust the selling price.
“When the market was hot, inspections couldn’t be used as a bargaining tool, because there were five people in line who would take the house as is,” says Klatte. “But now you can get significant reductions on the purchase price. For instance, if an inspection discovers the house needs a new roof, and that wasn’t disclosed, you might ask for $15,000 from the seller. Or the seller might agree to fix it before escrow closes.”
“It all depends on how motivated the seller is,” Klatte concludes. “If he wants to sell it, he’ll fix it—or negotiate.”
If endlessly searching the MLS and spending every Sunday at open houses is the way to find a home, then getting it inspected is the way to know exactly what you’re buying. Long story short: Don’t skip this step. We turned to Arline Klatte, a real estate agent at TRI/Coldwell Banker, and Benjamin Blount, an accredited home inspector, for tips on what to expect from an inspection and what to do about the results.
Once you enter into contract with a seller, you typically have three to 10 days to complete the inspection process and ask for any repairs or changes to the agreed-on price.
Finding the right home inspector is crucial. Ideally, an inspector is a neutral party—but in reality this isn’t always the case. According to Blount, “there are lots of inspectors out there who do not avoid conflicts of interest.” Klatte suggests turning to your real estate agent. “Reputable agents know the best inspectors in town from working with all of them,” she says.
The inspector will examine the property’s roof, foundation, heating-and-cooling system and water-and-plumbing system. He or she also looks for structural problems. Blount says the process usually takes about two hours and costs about $500 for an average home.
The results fall into two categories: violations and problems. “Code violations usually refer to health and safety issues,” explains Blount. These frequently include unstrapped and unelevated water heaters and a lack of smoke detectors, sprinkler systems, hand railings, garage-door sensors and ventilation. The seller must resolve any violations relating to permits or fire hazards before escrow closes.
Problems, however, may be repaired at the buyer’s or seller’s discretion. These can include any issues not disclosed prior to entering into the contract: foundation or roof problems, dry rot, etc. Review them with your agent, then decide which ones are most important to you and whether you want to ask the seller to fix the problem or adjust the selling price.
“When the market was hot, inspections couldn’t be used as a bargaining tool, because there were five people in line who would take the house as is,” says Klatte. “But now you can get significant reductions on the purchase price. For instance, if an inspection discovers the house needs a new roof, and that wasn’t disclosed, you might ask for $15,000 from the seller. Or the seller might agree to fix it before escrow closes.”
“It all depends on how motivated the seller is,” Klatte concludes. “If he wants to sell it, he’ll fix it—or negotiate.”
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