Check out our educational videos on youtube: Inspections [Video]
It’s easy to get swept up in the excitement of buying a
home. Once you’ve had an offer accepted on your dream house, you’ll probably be
anxious to move in. However, before you make a significant financial
commitment, it’s best to know exactly what you’re buying.
When you hire a home inspector, you get a professional,
in-depth examination of the property’s structures and systems. It’s a
worthwhile investment that can save you money in the long run, either by
warning you away from a bad purchase or by providing a list of deficiencies you
can use to negotiate with the sellers.
The inspector’s report will also list minor repairs that,
if made, will help to maintain your home over the long term. Additionally, a
good inspector can often predict the standard life expectancy of your roof,
HVAC, and other big-ticket items so you can start planning for their eventual
replacement.
However, many buyers make mistakes during the inspection
process that cost them time and money and lead to unnecessary stress. Avoid
these eight common buyer blunders to minimize your risk, protect your
investment, and give yourself peace of mind and confidence in your new home
purchase.
MISTAKE 1: Skip Your
Own Inspection
Many buyers rely on their home inspector to point out
issues with the property. However, by conducting your own visual assessment
before you submit an offer, you can factor expected expenses into the offer
price. Or, if you suspect major problems, you may choose to move on to a
different property altogether.
Examine the walls and ceilings. Are there suspicious
cracks, which could point to a foundation issue? Any discoloration? Yellow
spots can indicate water damage, while black spots are typically mold. If
there’s a basement, look for powdery white deposits along the walls and slab,
which can result from water seepage.
To assess the plumbing, start by turning on a bathroom
sink or tub, then flushing the toilet. Check for a drop in water pressure or a
gurgling sound coming from the pipes. You can also try running the water in
sinks and tubs for several minutes to test for drainage issues. Peak underneath
sinks to spot signs of leaks or drain pipes that go into the floor instead of
the wall.
Look for fogged or drafty windows, which may need
replacing. Examine the roof for signs of cupped, curled, or cracked shingles.
Check siding, decks, and other wooden structures for evidence of rot.
Overall, does the home appear to be well maintained?
Unless it’s a highly-competitive seller’s market, consider the overall
condition of the property BEFORE you submit an offer. Work with your real
estate agent to factor in repairs and updates you know you’ll need to make when
you determine your offer price.
MISTAKE 2: Hire the
Cheapest Inspector
We all love to save money, but not all inspectors are
created equal. Before you hire one, do a little research. You may
even want to start shopping for an inspector before you complete your home
search. Inspection periods are typically short, so it never hurts to be
prepared.
You can start by asking around for recommendations. Check
with friends and family members, as well as your real estate agent. Then
contact at least two or three inspectors so you can compare not only price but
also levels of experience and service.
Ask about their background, years of experience, and the
number of inspections they have completed. Verify their certifications and
credentials, and make sure they carry the proper insurance.
Find out what is (and what isn’t) covered in the
inspection and if they utilize the latest technology. Ask to see a sample
report so you can compare the style and level of detail provided. Finally, make
sure you feel confident in the inspector’s abilities and comfortable asking
him/her questions.
MISTAKE 3: Miss Attending
the Inspection
Make every effort to be on-site during the inspection.
Buyers who aren’t present during their inspection miss out on a great
opportunity to gather valuable information about their new home.
If can attend the inspection, don’t spend all your time
picking out paint colors or chatting with your new neighbors. Instead, use your
time there to shadow the inspector. It’s the perfect chance to find out where
everything is located, ask questions, and see first-hand what repairs and
updates may be needed.
Of course, if you do choose to tag along with your
inspector, exercise good judgment. Don’t get in the way, become a distraction,
or do anything to jeopardize your (or the inspector’s) safety.
If you can’t make it to the inspection, ask if you can
schedule a time to meet in person or speak by phone to go over the report in
detail. It will give you an opportunity to ask questions or request
clarification about issues in the report you don’t fully understand.
MISTAKE 4: Skim Over
the Report
Inspection reports can be long and tedious, and it can be
tempting to skim over them. However, buyers who do this risk missing crucial
information.
Instead, you should read over the report carefully, so you
don’t miss anything significant. Now is the time to address any areas of
concern. You have a limited window of time to request repairs or negotiate the
selling price, so don’t squander it.
Your inspector may also flag some minor items that you
wouldn’t typically expect a seller to fix. However, ignoring these small issues
can sometimes lead to bigger problems down the road. Make sure you read
everything in the report so you can take future action if needed.
MISTAKE 5: Avoid
Asking Questions
Some buyers are too embarrassed to ask questions when
there’s something in the inspection report they don’t understand. Afraid they
might look foolish, they avoid asking questions and end up uninformed about
important issues that could impact their home purchase.
The reality is, questions are expected. You hired your
inspector for their professional expertise, so don’t be shy about tapping into
it. For example, you might ask:
●
Would you get this issue fixed in your own home?
●
How urgent is it?
●
What could happen if I don’t fix it?
●
Is this a simple issue I could fix myself?
●
What type of professional should I call?
●
Can you estimate how much it would cost to make this
repair?
●
How much longer would you expect this
system/structure/appliance to last?
●
What maintenance steps would you recommend?
Don’t bother asking your inspector if you should buy the
property, because he/she won’t be able to answer that question for you.
Instead, use the information provided to make an informed decision. A skilled
real estate agent can help you determine the best path.
MISTAKE 6: Expect a
Perfect Report
Some buyers get scared off by a lengthy inspection report.
But with around 1600 items on an inspector’s checklist, you shouldn’t be
surprised if yours uncover a large number of deficiencies. The key
is to understand which problems require simple fixes, and which ones will
require extensive (and costly) repairs.
Your real estate agent can help you decide if and how to
approach the sellers about making repairs or reducing the price. Whatever you
do, try to focus on the major issues identified in the inspector’s report, and
don’t expect the sellers to address every minor item on the list. They will be
more receptive if they perceive your requests to be reasonable.
MISTAKE 7: Forgo
Additional Testing
There are times when an agent or inspector will recommend
bringing in a specialist to evaluate a potential issue. For
example, they may suggest testing for mold or consulting with a roofing expert.
Some buyers get spooked by the possibility of a “red flag”
and decide to jump ship. Or, in their haste to close or desire to save money,
they choose to ignore the recommendation for additional testing altogether.
Don’t make these potentially costly mistakes. In some
cases, the specialist will offer a free evaluation that takes minimal time to
schedule. And if not, the small investment you make could provide you with
peace of mind or save you a fortune in future repairs.
MISTAKE 8: Skip
Re-inspection of Repairs
Most buyers request receipts to prove that repairs have
been correctly completed. However, it’s always prudent to go a step further and
have negotiated repairs re-evaluated by your inspector or another qualified
professional, even if there’s an additional charge.
While the majority of sellers are forthcoming, some will
try to save money by cutting corners, hiring unlicensed technicians, or doing
the work themselves. A re-inspection will help ensure the repairs are completed
properly now, so you aren’t paying to redo them later.
To avoid having to go back to the sellers, be specific
when requesting repairs. Identify the problem, how repairs should be completed,
who should complete the work, and how the repairs will be verified.
Some buyers prefer to avoid this step altogether by
completing the work themselves. They either request that the seller fund the
repairs or reduce the selling price accordingly. Whichever path you choose,
protect yourself and your investment by ensuring the work is done properly.
WE CAN HELP
A home inspection can reduce your risk and save you money
over the long-term. But to maximize its effectiveness, it must be done
properly. Avoid these eight common home inspection mistakes to safeguard your
investment.
While these are some of the most common missteps, there
are countless others that can trip up home buyers, cost them time and money,
and cause undue stress. Fortunately, we have the skills and experience to help
you avoid the potential pitfalls.
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