CONGRATULATIONS!!! Your offer was accepted! You’re probably celebrating the news that I just gave you on the phone in your own way—popping the bubbly, jumping up and down and yelling out WOO HOO!!! Now after you’ve let out that wonderful supply of joy and energy; we will need to sit down and start the processes that will get you those keys in the end. And the very first step it to line up your inspectors so you can give that beautiful house a clean bill of health.
Inspection: Getting a home inspected may seem like a daunting task – especially for those first time homebuyers. But don’t fret, that’s where I come in. If you’ve prepped yourself on the home purchase process through Reality TV (ah like who hasn’t recently), then you may have a great idea of what happens. Well I hate to break it to you, Reality TV and reality aren’t related. First, the fabulous no issue home and it’s brother the major money pit home generally don’t exist as much as you see it on TV. Let’s take a walk down the escrow lane with our first stop- the Inspection period. Here 3 KEY POINTS that you need to understand about the Inspection period and inspections.
Point #1: Buyers can waive their right to an inspection but I would strongly advise to get at least a home inspection (unless your loan type requires a termite/pest in addition).
A few years back, I had a seller was sadly unable to afford their home because of unemployment and due to the fact that the home wasn’t able to sell because of latent issues they discovered after they closed. They purchased the home and waived their inspections. Years later as they tried to sell issues surfaced that they were not aware of when they purchased the home. Unfortunately, the bill was extremely high and created an big hurdle in selling the home for what they had wanted.
Point#2: Home inspectors do provide a great service to all buyers. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof (tiles, possible roof leaks, etc.), plumbing, electrical components(outlets, etc.), appliances, heating & air conditioning systems, ventilation, windows, the fireplace & chimney, the foundation and so much more!
A well-qualified home inspector needs time to ensure they’ve thoroughly looked at the home before and then document any potential items for further review. Buyers should allow the inspector to do their work free of questions and conversations until the end. Inspectors should block out time at the end of the inspection to go over their findings.
Point#3: Once the Buyer receives a review of the home inspector findings an inspection report is generated so you and I (as your Realtor) go over to determine what you would like to request the Seller to repair or replace.
Now, Sellers’ have the right to decline any repair requests. Generally, Seller’s will agree to reasonable repairs. A key thing to do as a Buyer when requesting is to determine what is needed, wanted and important to have (for safety reasons or as part of a loan requirement). A Realtor’s help to guide you through those decisions is a tool that any buyer should take stock in.
Completing the series of required steps while in escrow in the most informed and efficient way will greatly decrease the stress and anxiety of the home buy process. Through the years of experience in Real Estate sales, I’ve come to understand that coordinating, managing and overseeing the process for my Clients creates wonderful experience. Who doesn’t want that good feeling when the keys are finally yours?