Cervone Deegan + Associates knows that a home inspection can be a scary step in the home-buying process especially if it’s your first time at the game. You may be overwhelmed by how much money you are about to pay out on a home but also fear the worst with what may be uncovered during your home inspection. However, just remember that an inspection is done to make sure you don’t buy a home that is a money pit so you can plan for future repairs. Here is some more insight into getting the most out of your inspection.
Hire a Reputable Home Inspector
Your inspection is not a place where you want to cut corners. Make sure you hire someone who is local and well-known with a good reputation. Next, see if they have key memberships for the field and ask your real estate agent like us if they know of them. Finally, if you are purchasing a particular type of property, like an older historic one for example, see if they are well versed in that arena as it can be helpful.
Attend the Inspection
All inspectors will furnish you with a multi-page detailed report with notes and photos of everything they have reviewed. However, it is a wise idea for you to attend the inspection appointment as well so that you can ask important questions and get very familiar with the home “under the hood” so to speak. This will make eventual repairs less daunting and also give you a better idea of anything that may need further negotiation with the home sellers.
Don’t Worry Ahead of Time
Most of the time inspections go smoothly with only smaller fixes required for repair. Keep in mind it is completely normal for there to be a handful of small things like a window pane in need of repair and the like. Should your inspector unearth a more major problem like a structural issue then you may need to revisit your offer to purchase. Customarily there is a dollar figure specified where if repairs exceed that amount then you can renegotiate. If this occurs then you should consult your attorney as well as your real estate agent for the best next steps. Your attorney can best advise you on the way to go about negotiating while your real estate agent can advise you on what is maybe best for you given the current market conditions. Under competitive markets you may need to be a bit more flexible should you want to salvage the deal.