What about the Home Inspection?
A brief explanation, or praise, for the home inspection.
In my short-tenure as a Real Estate Agent, something I have grown very familiar with through watching transaction after transaction at the brokerage, is the Home Inspection.
Largely, a mystery to many first time home buyers, the home inspections holds great significance, as the transaction moves along. By contract, if not changed, a buyer has 17 days to complete their inspection of the property, and if they deem all the findings satisfactory, typically the transaction moves forward with a full head of steam.
Within this 17, or many times shorter in our area, a buyer will pay for a professional home inspector, to find all material defects with a home, large or small. Generally after the home inspection, you will receive a report stating many of the issues that will be glossed over by buyers and sellers alike.
Though, there will be cases where items call for action to be taken, let’s say the roof needs replacing, or there is a sewer line that needs to be repairs, and things of the like. More times that I can count there were items that pulled a transaction to a halt, and further more to a negotiation. Selling prices get reduced, escrow timelines lengthen, and credits are given.
In most cases, all of these issues will be resolved with some sort of compromise, whether the work will be done during the escrow period or not, so if this is your first transaction, do not be afraid!
How much is too much?
I question that is often revisited between and agent and his or her clients, post-home inspection is, what can we ask for? Or, how much is too much? Often times, in each respective area, there are items that are typically asked for by buyers and many that are atypical.
I like to remind both buyers and sellers to try to step inside one another’s shoes, and see the situation from the other side to avoid some disagreement in terms. There is never a straight answer of what is too much to answer, as any suggestion would be dependent on any given situation and home.
In the end,
I will give thanks to the Home Inspector, as his findings may halt a deal, or toughen things up a bit, he keeps everyone accountable and aware. If you’re a seller, be prepared for a house to be nitpicked, and if you’re a buyer be prepared for a home not a be a perfect diamond in the rough.