Maui Homes Guide - Chapter 7 - Home Inspections
Anthony Freda
I am a Devoted Dad, an Active Supporter-Volunteer with the Maui Humane Society, and a Committed Pursuer of Lifelong Learning: Hospitality Leadership CHA?| Association Management CMCA?, AMS? | Real Estate RSPS?
A home inspection provides the chance to discover and uncover more about the house before purchasing it. Use findings to negotiate the offer price, prepare for anticipated expenses down the road, or even walk away from the deal altogether.
The Importance Of Home Inspections
Finding a home does not mean that your investigative tasks are complete. Although many states do not require inspections, your lender may require, at minimum, a pest inspection to be conducted before your mortgage is approved. If insects such as termites are found, the current homeowner will need to consider the problem before that home is sold.
I believe that completing a full home inspection is worth the initial cost as the potential for long-term savings is high.
A thorough home inspection will include checking the following:
When drawing up the initial offer for the purchase, include a statement that allows you to withdraw your bid if any repairs identified by the inspector remain or if a price adjustment has not been made. You should still be able to cancel the offer without having such a clause in the contract, but you may owe commission fees to the agent.
An inspection will offer peace of mind before signing the final documents, whether buying a new or used home.
How To Find A Home Inspector
There are several places you can turn for finding a home inspector:
Many home inspectors are freelance operators and may only work during a limited schedule. They are often working or retired contractors, builders, electricians, and plumbers whose training gives them a good understanding of what to look for and where to look.?
When you have a shortlist of inspectors, give them a call and ask the following questions:
1.????How long have you been inspecting homes?
2.????What do you look for during your inspections?
3.????How much do you charge?
4.????What days and times are you available?
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5.????Do you offer septic system inspections?
6.????What type of license do you have?
7.????What kind of report should I expect?
A thorough home inspection should take an inspector three hours to complete, depending on the home's size. You decide to be present or not for the inspection.
Besides asking the inspector's questions, be sure to ask your lender what inspection details and documents they require, allowing you and the inspector to keep the process streamlined and efficient.
Once the inspection is complete and the report generated, the homeowner makes the needed repairs or lowers the price to satisfy the buyer and continue the transaction.?
If repairs are minor and carry minimal costs, they will typically choose to make the repairs. If you would like to absorb the repairs' price, you can certainly keep the process moving forward. Whatever the final decision, have the report presented in writing to ensure that all parties agree and no misunderstandings arise.
What To Expect From A Home Inspection
A home inspection can unearth many problems you or your agent did not notice when visiting the property and sets a plan in place to bring the home up to the desired level. Typical findings include:
The Final Walkthrough
On closing day, you should have a final walkthrough completed. These "last looks" ensure that all expected repairs were complete to your satisfaction and that no new damage or concerns have arisen. Some buyers skip this step, but I encourage that they or their Realtor makes an effort to ensure a truly positive outcome.
Anthony Freda | RS-74661?
Aloha Group Maui | Keller Williams Realty Maui?
MauiHomesGuide.com | 808-990-2961