Section 10 Home Inspection
Well, it might now be eleven. But for the longest time, the Colorado Contract to Buy and Sell Real Estate has had a section addressing what happens when home inspection reveals problems. Buyers, not the Seller, are in the driver’s seat to determine how to handle such issues.
My clients have the opportunity to request repairs, compensation, a combination therein or even to terminate the contract if the issue is serious enough, in the buyer’s sole subjective opinion!
Why Get Home Inspection?
This will be an opportunity for the buyer to better understand the property. A thorough, professional investigation of the property can turn up hidden issues that might not be visible to the eye. Today’s home inspector generally follows a checklist, takes a lot of photographs and provides a digital copy of the report promptly to the home buyer. Consider it a great opportunity to get the operating instructions to your new abode.
When To Negotiate After Home Inspection
The buyer might object to anything in the review. Or, in a market dominated by tight inventory object to nothing. Clients are well advised to carefully pick their battles. What was a big deal during the Great Recession is frequently a Nothing-Burger in today’s seller dominated housing market.
Still, use some scrutiny in reviewing your report. Structural issues, expensive systems in need of replacement, such as the HVAC components, water issues and more can be serious red flags. If the seller is unwilling to remedy an issue, your best option may indeed be to walk away and find a home with less issues.
Don’t Wait For Contract To Determine When Home Inspection Reveals Problems
Many clients will do a pre-inspection as part of the purchasing process. During the walk through of a home you like, there are plenty of small things to keep an eye on. For instance you can:
- Check the water pressure of faucets and watch how water drains from sinks
- Look at the roof, are there noticeable missing shingles? Is the siding freshly painted?
- Inside, do you see lots of cracking? Try the windows, do they open easily (if not, a possible warning sign)
- Do you feel there are sufficient outlets in each room?
Of course, your inspection expert will check all of this out for you. But, why not take a look as part of your process for determining if you like the house in the first place?
How Home Inspection Works
Generally once you are under contract, your qualified inspection sleuth visits the property. Home buyers are welcome, even encouraged, to attend the inspection. The home inspector will then check/test/review most every component of the house.
In good weather, an inspector will be up on the roof. They’ll look for indications issues. There is moisture testing (optional), checking of electric outlets and running of the appliances. An inspector will follow a checklist to dig into the nooks and crannies of the house and tell you all about your future investment.
Then you get a report. Frequently in full color, with plenty of photographs highlighting concerns. That report might lead to negotiations with the seller or merely be a roadmap for you to improve your new home!