Buyer process Step 5
Your contract has been accepted, and now it's time to have the home inspected! Now what?
Your realtor will recommend a home inspector for you to use. The size of the property and or the complexity of the report can determine how expensive this can be. Typically it will be in the $300-$500 range. You can expect your report back to you within a day or two of the inspection.
While you can see for yourself many flaws in a house, the practiced eye of a professional inspector can probably spot more, especially in areas not accessible to the home buyer. Specific information could even reduce the price of the house if the seller will agree the price has not already been discounted for defects.
If no serious problems are found, inspection can pay off indirectly in assurance that you are making a soundful investment.
Should you be there for the inspection? You can if you like. I've found that being there allows the inspector to explain things to me. I've asked questions like how to change the air filters in the heating/cooling system, and the inspector has shown me where it was. Ask things like where's the water shut off for the house, where's the electrical box, etc. Don't ask them things like "How expensive will it be to repair that", though while he may give you a ballpark, when that professional comes in, he may find the problem much more extensive, or not that big of a deal making that ballpark not accurate. Knowledge is power, and the more knowledge you can obtain about your property, the better. But be sure to stay out of his way and let him do his work. Your inspector will give you time to ask questions.
What if there's a major problem? Your real estate agent should get the report from the inspector (as well as you'll get a copy) and you can go over with them the problems. Some minor problems would be easier if you just addressed, but if there's a major problem (think roofing, plumbing, etc), your agent may recommend asking the seller to repair them.
Your realtor will recommend a home inspector for you to use. The size of the property and or the complexity of the report can determine how expensive this can be. Typically it will be in the $300-$500 range. You can expect your report back to you within a day or two of the inspection.
While you can see for yourself many flaws in a house, the practiced eye of a professional inspector can probably spot more, especially in areas not accessible to the home buyer. Specific information could even reduce the price of the house if the seller will agree the price has not already been discounted for defects.
If no serious problems are found, inspection can pay off indirectly in assurance that you are making a soundful investment.
Should you be there for the inspection? You can if you like. I've found that being there allows the inspector to explain things to me. I've asked questions like how to change the air filters in the heating/cooling system, and the inspector has shown me where it was. Ask things like where's the water shut off for the house, where's the electrical box, etc. Don't ask them things like "How expensive will it be to repair that", though while he may give you a ballpark, when that professional comes in, he may find the problem much more extensive, or not that big of a deal making that ballpark not accurate. Knowledge is power, and the more knowledge you can obtain about your property, the better. But be sure to stay out of his way and let him do his work. Your inspector will give you time to ask questions.
What if there's a major problem? Your real estate agent should get the report from the inspector (as well as you'll get a copy) and you can go over with them the problems. Some minor problems would be easier if you just addressed, but if there's a major problem (think roofing, plumbing, etc), your agent may recommend asking the seller to repair them.
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