Great news — your offer was accepted and now you’re very close to owning your new home.
Once a buyer and a seller have a signed agreement with the basic terms of the purchase, the next step is a home inspection. The agreement will state how many days you have to complete the inspection. The inspection is typically a contingency to the sale of the property. This means you must approve of the home inspection or negotiate a resolution with the seller of any issues found during the inspection.
On inspection day the buyer, their agent and the inspector will meet at the property. This is the buyer’s opportunity to thoroughly check out the house. The inspection will generally take about three hours, depending on the size of the home.
The cost of the inspection varies by the size and complexity of the home, but approximately $1,000 is the average starting price in our area. The inspector will examine the property’s exterior and interior. This includes things such as mechanical systems, roof, foundation, walls, kitchen appliances, and bathrooms. If the property has any of the following, an appropriate professional may be needed to conduct additional inspections:
Additional inspection items can also include pests, insects, radon and lead. It is important to note that homes built prior to 1978 have the potential for lead plumbing and lead paint.
A full written report of the inspection will be given soon after it occurs. The buyer will then discuss the reports of the inspection with their agent. Sometimes the inspection is not contingent on the sale of the house, but just to give the buyer information about their soon-to-be property. From this point the buyer will proceed to contract signing.
Good luck with your inspection and congratulations on your new home purchase.
Good news, you have an accepted offer on your home. Today is inspection day. This is the buyer’s opportunity to ‘look under the hood’ of your home.
Many sellers dread this day, expecting to hear bad news. You can minimize the shock of any bad news on inspection day by having a pre-inspection prior to the listing of your home. However, if you’re already at inspection day, stay positive — chances are the inspection will go smoothly and any issues that may arise you are likely aware of.
Again, the inspection will last around three hours. The buyer pays for the inspection. The seller should be available by phone, email or text to help answer any questions during the inspection. Though the inspector will thoroughly inspect the home the seller will return to the home in the same condition it was in before the inspection.
After the inspection, your agent can reach out to the buyer’s agent to find out how the inspection went. Any major issues will be addressed immediately. The inspection report is provided to the buyer. If the buyer asks for repairs, replacement or credit for an item, the seller is entitled to see the specific pages of the report that relate to those items. If there are issues relating to the inspection remember, all is negotiable. Look to your agent for advice on the best way to proceed.
Once the inspection is completed and all issues, if any, are resolved the buyer and seller will sign the purchase and sale contract and move toward closing the sale.
I hope this insight on home inspections left you feeling more prepared going into your own home inspection, whether you are the buyer or seller. Be sure to bookmark this page to reference in the future — and to view our current listings visit BrossChingas.com.
Robert Appell is a Sales Associate with The Bross Chingas Bross Team at Coldwell Banker. Bross Chingas Bross has been #1 in the sale of Weston and Westport homes, 2013-2022 YTD. The team ranked #33 in the U.S., out of all Real Estate Agent Teams at all brokerage firms per the Wall Street Journal, and #7 within Coldwell Banker globally, where they are recognized as an International Society of Excellence Team.