A home inspection is a standard part of many real estate contracts, and buyers can have the right to walk away from a sale within an agreed time frame based on the findings.
Home Inspection Colorado Springs CO looks at a home’s exterior and interior, including crawl spaces and basements. Homebuyers can tag along with their inspectors to learn more about the process.
A home inspection report is usually provided after the inspection and may be in a narrative or checklist format. It should be easy to read and understand.
The report will include the inspector’s observations of the structure’s condition and its components. It will note any systems that are not functioning as they should, such as a leaky roof or inadequate air circulation. In addition to noting major issues, the report will provide recommendations for the future of the home. For example, if the roof has a significant number of missing or damaged shingles, it is recommended that the buyer replace them.
It is important to note that the inspection does not guarantee that the home will pass a building code inspection. While the inspector can comment on the adequacy of a building’s construction and standards at the time it was built, confirmation of compliance with current building codes is not the goal of a general home inspection.
During the home inspection, the inspector will examine the structure’s exterior, interior walls and ceilings, floors, windows, doors and cabinets; the roof; attic; and crawl space. The inspector will also check the condition of stairways, railings and decks. The inspector will also look at the electrical system and plumbing; observe sewage, sewer and water lines; and test a fire alarm and carbon monoxide detectors.
It is critical that you have the home’s utilities turned on and that you follow the inspector’s advice for preparing for the inspection. The home should be free of pets and children, as the inspector will need to walk through the attic and crawl spaces.
Some things that are not part of a standard home inspection can be inspected with specialized equipment. For example, a thermal imaging camera can be used to check for moisture-related problems in the attic and crawl space. Other specialized inspections can include a radon test and testing for lead paint, asbestos and mold.
It is important to work with a real estate agent who has experience in working with clients on inspection results and negotiations. It is virtually impossible for a home to come back completely clean from an inspection, so having the right strategy in place can help you and your client move forward with confidence.
The seller is bound by law to disclose any issues that could negatively affect the value of the property. A seller’s disclosure statement can be included in the listing agreement or it may be required by state, local or federal laws. It is usually a form that lists problems that the inspector found during his examination of the home and states whether or not they are considered significant.
Sellers are also required to provide information about the house’s history. This includes any repairs made and their cost, as well as the existence of hazardous materials, such as asbestos or lead paint. Some states have specific requirements, such as requiring sellers to disclose known problems related to radon gas or lead-based paint.
If the seller has a home warranty plan, they can transfer coverage to the buyer upon closing. This could cover the cost of a new roof, water heater or furnace and give buyers peace of mind that any problems discovered after they move in will be covered by the policy.
Having the inspection report can help the seller avoid any unpleasant surprises or disputes with the buyer over problems that were not disclosed. It can also help the seller decide what to do about issues that come up after a home inspection.
If there are problems that need to be addressed, the report can serve as a checklist for contractors who are hired to make repairs. This can save the seller money by allowing them to shop around for competitive estimates. It can also prevent the seller from rushing to make repairs to meet a contract deadline.
A home inspection can alert the seller to any immediate safety issues found before agents and buyers tour their home. It can also prevent 11th-hour re-negotiations that often occur when problems are uncovered during the buyer’s inspection.
If a seller disagrees with the conclusions in a previous home inspection report, they can either attach a note or write an update to the report. However, if they discard the report and refuse to disclose any problems, they could face legal liability in the event that an unidentified problem surfaces in the future.
Homebuyers often make their offer on a new property “contingent on inspections” because it’s a small price to pay for peace of mind. A home inspector provides a professional review of the property’s most significant components (such as the roof, structure, and air conditioning/furnace) before the buyer closes on the house.
A home inspection should not be confused with a home appraisal, which is an evaluation of a property’s current market value. While both of these are important steps in the home-buying process, they focus on different things. A home inspection focuses on the home’s condition, while an appraisal focuses on the market value.
Typically, the buyer pays for the home inspection and may require the seller to pay for a pest inspection as well. Upon completion, the buyer receives a written report that describes the condition of the property. It will also include recommendations for any repairs that should be made. The seller will then be given a chance to make the necessary repairs or to reduce the sales price, depending on the findings of the home inspection report.
It’s a good idea for the homebuyer to be present during the inspection. This will give them the opportunity to ask questions, observe the home inspector, and become familiar with the property. During the inspection, the homebuyer will have a better understanding of the property they’re about to purchase and will be able to negotiate more effectively with the seller.
If the home inspector discovers serious issues that would cost a lot of money to repair, the homebuyer can use the information in the home inspection report as leverage to lower the sales price or request repairs from the seller. However, the homebuyer should be aware that if they waive their right to a home inspection contingency, they also waive any other opportunities for renegotiation or cancellation of the sale contract based on the results of the home inspection.
It’s important for buyers to find a certified home inspector who is licensed by their state and is insured. This will help ensure the inspector follows a set of standards that protect the buyer, and also helps to avoid any potential problems that could arise from an inexperienced or unlicensed home inspector. If possible, buyers should also choose a home inspector who participates in the InterNACHI Buy-Back Guarantee.
The inspector’s report should provide the basis for negotiations between the buyer and seller. However, it is important to understand that the inspector cannot make the home perfect or compel the seller to make any repairs. The inspector’s job is to identify significant issues that should be addressed and to recommend further evaluation by specialists, if needed. In general, buyers should try to negotiate only those items that require major expense and are not a result of normal wear and tear.
Home inspections typically take a few hours and require access to many parts of the house, including the roof, attic, garage, basement and electrical service panel. Decluttering and allowing easy access can help speed the process up. Make sure all utilities are on and that any appliances are in working order. Also, have your HVAC system cleaned and a radon test performed.
During the inspection, you should ask the inspector about his or her qualifications and education. It is also a good idea to ask for references and previous clients. In addition, you can also find out if the inspector is licensed by your state. You can do this by contacting your real estate agent or checking with local licensing authorities.
While you should be present during the home inspection, it is best to allow the inspector to work freely without interruptions. Having a clear picture of what the property looks like is critical to making an accurate assessment. However, if you feel uncomfortable with the inspector, ask your real estate agent to be present as well and act on your behalf.
The home inspection is your one opportunity to get a comprehensive look at the overall condition of a potential new home. It can reveal problems you might not have noticed and make you more confident in your decision to purchase the house. If significant problems arise, you can use the findings as leverage to negotiate a lower price or to walk away from the transaction altogether. However, if the problems are not too severe, you might be able to have them repaired by the sellers after the sale.