(Inspection) Home inspection list for buyers
The biggest question for apartment buyers is, or at least should be, what do I buy?
What items should you check out at home as a buyer?
You should have a general idea of the condition of the property you are interested in buying. It depends on whether you are looking for an old model or a new home? With furniture? Or are you willing to go with something in the middle, as long as the house only needs basic cosmetic upgrades?
Of course, most of the most significant and costly repairs are the ones you will not be able to spot right away and hide behind the scenes. That's where professional home inspectors come into the picture. Their job is to research and report on dozens of factors, so you know exactly what you are getting or not.
The need for a home inspection when buying a home
If you are financing the purchase of a home through a mortgage loan, your lender will want to be protected through appraisal, title search, insurance and a professional home inspection.
They want to know what they are lending about, getting collateral, and what it is worth.
Even if you are not that picky or it's okay for you to take a year to repair and renovate your new home, it is very important to know why you are moving in.
Why?
Discover defects and urgent repairs
Identify items that may require building permits
Get peace of mind
Get an estimate for making the necessary repairs
Understand the true value of the property
Be alert for possible maintenance issues soon
Without testing, you have no idea if this house would be habitable, a huge money pit or really dangerous. Or it could be in a much better condition than you thought. You just have to know.
When to do a home inspection
Traditionally, an apartment buyer will book and pay for a professional home inspection immediately after signing a real estate contract that agrees to the terms with the seller. Your purchase and sale contract will specifically specify how many days you have to inspect the property.
If you are buying a house 'as is', with no repairs (the most common today), you should still have the right to inspect the property. You may also have a contract repair limitation. This can be a monetary amount or a percentage of the purchase price.
for example; You can indicate that you will buy the property as it is, provided that the necessary repairs found in the inspection do not exceed $ 2,000 or 2% of the purchase price.
If $ 3,000 corrections need to be made in this scenario, you may only have 7 to 10 days to find an inspector, organize the inspection, get the report back, review it, and ask your broker to renegotiate to deal with it. You can exit the contract. Or they may offer a $ 1,000 franchise to help with these costs.
Recently, the trend has been for sellers to require buyers to perform a pre-commitment check. They do not want to be tied to a contract with a buyer who may not fulfill it. In this case, you will need to pass a test and then submit your bid.
The faster you move the better because you do not want to spend on checks on assets purchased by someone else while you wait for your report.
Fortunately, home inspections are usually fairly quick, costing only a few hundred dollars, depending on the home, and can be performed within 1-2 days.
Home inspection list for apartment buyers
If you want to do your preliminary home inspection, then here are the main categories and items to check.
Roofs: shingles, gutters, leaks.
Basics: Trees too close to home, visible external cracks.
Yards: Proper drainage, driveway condition and additional trails.
Appliances: Function and age.
Structure: fire damage, water stains, insects.
Electricity: sockets and switches working, age of electrical panel.
Plumbing: plumbing, leaks, water pressure.
General: Status, updates required.
Special features: garage, pool pumps, etc.
When to go crazy and when not
First time home buyers can find their first home inspection report pretty scary.
A good home inspector will go into great detail and highlight every little detail that can be improved. It can look scary and sound like a lot of money. However, it is important to distinguish between what is urgent and what is not urgent which is a normal defect and may be repaired later.
Buyers should attend the inspection so they can inspect their new home in detail and ask questions during the process.
According to the American Association of Home Inspectors, the most common problems found are:
Defective wiring: wires, open connection boxes.
Defective piping: low water pressure, water stains on ceilings.
Poor drainage: Wet areas in the yard, leaks in the basement.
Bad gutters: clogged gutters, moisture in the basement.
Basic defects: small cracks, doors and windows sticking.
Poor maintenance: cracked paint, worn tiles, cracked parking path.
These are described as problems that "can be easily fixed with the right contractor, and should not ruin deals."
Summary
Homebuyers should always pass a professional home inspection. If you are financing your home with a mortgage, it will be mandatory. You can get a good feel if you know what you are checking on, it is worth every penny to do it professionally. Your realtor can help you find a qualified and reputable home inspector near you to carry out your inspection correctly and quickly.
A home inspection is designed to highlight potential problems that may be in the property, whether they are visible or not. These assessments sometimes draw attention to red flags, such as water damage, mold and damaged electrical and plumbing systems.
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