The Term “Home Inspection” Explained

The Term “Home Inspection” Explained

Don’t judge a book by it’s cover and don’t buy a house just because it looks good!

One of the most important steps you will take after your offer has been accepted is having an inspection done.

It is always wise to get a home inspection.

You will need to hire a home inspector and wait for the inspection report before you reeeally know about the home you’re trying to buy. 

Once the home goes under contract we have only 10 days to get the following done:

1) Hire an inspector (usually ranges from $300-$550 depending on the size and age of the house)

2) Make an appointment.

3) Receive the written report

4) Prepare, sign & submit an Inspection, Repair and Survey Addendum.

If we don’t complete these tasks within the 10 day period we lose our chance to ask for repairs, and we most certainly want to hold tight to that opportunity.

If there is anything the sellers did not disclose in their Sellers Property Disclosure, the inspector should find it.
The inspector is looking for any defects in the home that would make it “unlivable” or something that might take away from the integrity of the home. 

Once you get your inspection report, have your real estate agent go over it with you.

If there is something on there that will be more trouble than the home is worth, you can terminate the offer.

If there are some things that aren’t major, you can have your agent write down the task list needed to continue with the offer.

If the sellers don’t have time to make repairs it may be reasonable to suggest a credit of closing costs in lieu of making the repairs.  Then the buyer can have it done after closing.

Items on your inspection report are usually not cosmetic, so if there are any cosmetic fixes you are wanting made, those will fall back on you (the buyer).

If you’d like to discuss how to get to this point in the transaction in Northwest Arkansas, call me, Jill Bell.  I’d love to help you out!

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