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August
24
24
What Sellers and Buyers Need to Know About Home Inspections
A home inspection is an important step when you're buying or selling a home, so it pays to know what an inspection entails and exactly what kind of information it reveals.
Our REALTORS® explain the following points buyers and sellers need to know about home inspections for Richmond homes for sale.
- How a Home Inspection Works
A home inspection isn't mandatory, but it's usually a good idea to have one performed. The homebuyer usually pays for the inspection, which calls for a third-party professional inspector to closely examine and evaluate many aspects of the property. If you'd like to look at the home when the inspector does, there's a lot you may be able to learn.
Sometimes a home seller will pay for an inspection to reassure potential buyers that their property doesn't have any major issues. The areas covered by an inspection usually include the foundation and basement, interior plumbing systems, interior electrical systems, heating, and cooling systems, and more. After the inspection, a report will be generated for you to examine. - How to Choose a Qualified Home Inspector
If you need help finding a home inspector, your REALTOR® can often suggest someone who has the proper credentials and experience. He or she should have certifications from groups such as the National Association of Certified Home Inspectors (NASH) and the American Society of Home Inspectors (ASHI). That way, you'll know they meet ongoing professional standards.
In addition, they should carry an insurance policy that protects you in case they're injured on the property you own. Experience in the local area is also a plus. That way, the inspector knows about local pest issues, soil conditions, and more. - What an Inspection Can't Do
While an inspection provides a great deal of information, it can't predict the future or give you a guarantee of how long a system will last. Instead, it can let you know about the age of important systems and provide a snapshot of their condition at the present time. A system that was working properly when it was inspected could develop problems.
And some areas of the property – such as inside the walls or septic tanks – may not be a part of a standard inspection. If that's the case and you'd like to have these areas inspected, your REALTOR® may be able to suggest someone who can do this more specialized job. - What Happens After the Inspection
After the inspection is completed, the buyer will be given a report detailing any problems. At this point, the buyer may decide to move onto another home or may choose to negotiate with the seller to either make some repairs or to lower the price to compensate for the cost of fixing the issues that were found.
If the seller has ordered the inspection and it reveals any serious issues, he or she might choose to make the repairs, since potential buyers may not want to deal with the hassle and time involved with significant repairs even if the home price is reduced accordingly.
Contact us to learn more about home inspections and how they can benefit buyers as well as sellers. And whether you're buying or selling a home in the Richmond area, our experience and knowledge of the local area can help make your transaction proceed smoothly.
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