Home Inspections... Are they worth it??
What is a home inspection?
A home inspection is a report which outlines the condition of a property. A third party (home inspector) goes to the home and inspects the property for defects. A home inspection will reveal any issues, including the roof, electrical, plumbing, HVAC, foundation, etc. A home inspection may uncover defects that the homeowner could not pick up on by just viewing the property.
Who is responsible for obtaining the home inspection?
In most cases, the buyer is responsible for obtaining and paying for the home inspection. Your Realtor may provide recommendations; however, the buyer is encouraged to research home inspectors so that there is no bias. The buyer also has to pay the home inspector up front. This cost is not rolled into your loan or paid at closing,
When is the home inspection ordered?
In Georgia, the buyer orders the home inspection once the seller has accepted the offer. The buyer has a set time called the "due diligence" period, for which they can inspect the property and neighborhood for acceptability.
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How can a buyer use the home inspection as leverage?
A buyer can use the findings in the home inspection to negotiate with the seller to have items repaired or replaced upfront. A buyer should identify the top defects that they would like the seller to address and have their Realtor negotiate the repairs on their behalf. The buyer can also ask the seller for a reduction in sales price to cover the repairs or a credit towards the closing cost. The home inspection and negotiation of repairs must be done during the due diligence period. The concerns must also be addressed in writing and approved to be repaired by the seller within that period.
Are you thinking of buying soon?
If you are considering buying a home soon, a home inspection is definitely something to consider. Allow me to help you navigate the process. When you are ready, I am here. Let's work together to get you in the home that best fits your needs. Start by signing up as a premiere client and start searching homes and neighborhoods using my website. If you have a house and want to know the value of your property, click here to download your instant comparable report.