A fresh coat of paint or new carpeting may disguise serious flaws. That’s why you want to make sure a professional inspects your new home.
It’s important to have a qualified inspector completely inspect the home you are planning to buy. If you by-pass the inspection and later discover that your house needs repairs, you will ultimately spend more money in the long run.
A qualified professional home inspector surveys the foundation and structure, roof, exterior, major systems (electrical, heating, cooling and plumbing), and appliances that stay with the home.
Tour the house with the inspector, who will point out potential trouble areas, as well as what’s in good working order. If the inspection does uncover some flaws, a seller is often willing to make repairs, but it may depend on market conditions. Take notes as you tour. Get the inspection report in writing. This document will support or deny the repair contingency addendum to your agreement.
Home inspectors who primarily focus on structural integrity and working systems might not be qualified to conduct specialized inspections for radon, asbestos and lead paint – substances that in recent years have emerged as the most common environmental concerns for home buyers. Testing for these substances typically requires a specialist who will charge a fee beyond the basic cost of a general home inspection.
An inspection may take a few hours and cost a few hundred dollars, but it can save you time and headaches in the long run. Your real estate professional can recommend a professional inspector. We always recommend you get your own inspection with your own inspector.
As with any other inspection issue, the estimated expense of remedying a toxic substance situation may have already been factored into the home’s listing price. Other times, the outcome of an inspection might become a negotiating point.
There are two methods regarding inspections in the North Carolina offer to purchase.
- Method one gives the buyer the option to conduct various inspections within an agreed upon time frame after the offer is fully negotiated and agreed upon. After the completion of these inspections the buyer and seller negotiate repairs to be made, if necessary. Under this alternative the buyer may request repairs of mechanical and/or structural nature, as defined in the offer to purchase. The sellers then have the option to make the requested repairs, attempt to negotiate the repairs or decline to make the repairs. Should the seller decide not to make the repairs, or attempt to negotiate the repairs, the buyer has the option to accept the home as is, or not purchase the home and have their earnest money returned.
- Method two allows the buyer an option period during which time all inspections are to be completed. The time allowed and fee paid for this option are determined by the buyer and seller. At the end of this period the buyer decides to purchase or not purchase your home based on the results of the inspections. Should the buyer decide to purchase your home the transaction proceeds as normal and the option fee is deducted from the amount the buyer is required to bring to closing. Should the buyer decide not to purchase the home the seller retains the option fee. During the option period, the home will continue to be shown and marketed.
Reasons why every property should be inspected prior to purchase:
- Pre-owned houses: The older the house, the greater the likelihood you’ll find defects in its mechanical and structural systems. Know what you are buying.
- New Construction: Even a newly constructed, never-been-lived-in home may have problems the average home owner may not see. Having it thoroughly inspected is wise. Just because the building is new doesn’t guarantee everything is perfect. Find out what your builder warranty covers and for how long.
- Condo’s/Multi-family: You need an inspection before buying a condominium and/or any multi-family property. Don’t forget when you buy a condo, you’re also buying into the entire building or complex in which your condo is located. As a co-owner of the entire community, you may be assessed your proportional share of the cost for corrective work required in common areas, such as the roof, heating system, or foundation.
In summation all properties should be inspected. Inspect detached residences, attached residences, single-family dwellings, multifamily dwellings, condos, coops, townhouses, and anything else that has a foundation and a roof. Protect your investment by having it inspected.