The importance of a thorough home inspection cannot be understated. After identifying a suitable house in your mortgage pre-approval range, a certified home inspector helps identify major and minor defects that the average homebuyer may not notice.
Homebuyers play a larger role than selecting the company they wish to inspect their home. Given that you are about to make the largest financial investment of a lifetime, staying involved and asking pertinent questions is a smart decision that will pay dividends. Asking the right questions during the process helps solidify your understanding and position as the buyer. Focusing on the right questions enhances your knowledge about the process, property, and post-inspection implications.
Like any industry, there are varying degrees of professionalism and perspectives. Consider contacting a few home inspection companies and taking notes on how they respond to these preliminary questions.
Some professionals may have taken community college or vocational training courses to become inspectors, and others may have previously worked as carpenters, masons, or general contractors. Each background provides a unique perspective and hiring the best-suited person for your needs is essential.
Homebuyers do not necessarily need to stand back as passive observers during a home inspection. While it’s important not to distract or impede an inspector’s process, interjecting the following questions can improve your understanding of the home’s structural integrity.
A homebuyer generally gets one home inspection and the opportunity to learn about their potential property. Taking advantage of this learning opportunity and obtaining a comprehensive report is important to get one step closer to signing your mortgage paperwork and closing on the home of your dreams.
Home inspection reports are often highly detailed and provide degrees of defects. Distinguishing between significant structural deficiencies and cosmetic ones can prove confusing. After reviewing your home inspection report, consider asking for further explanation with the following questions.
Follow-up questions and clarifications are crucial to understanding whether the property is worth your offer and subsequent mortgage. A less-than-desirable home inspection report may require further negotiations.
First-time homebuyers are often taken back by home inspection findings. Unless you are purchasing new construction, most existing homes have a few items that require fixing. If the structural integrity appears compromised or the house involves asbestos, it may be prudent to walk away. However, fixable issues usually lead to post-inspection negotiations involving price reductions and deciding who will pay for repairs.
It’s generally worthwhile to ask the seller to make needed repairs before proceeding with the transaction. For example, a home with a private well may not produce good water quality results. Although not necessarily contaminated, a buyer may request a filtration system be installed and have drinking water retested.
If post-inspection discussions prove fruitless and you still want to move forward, lending options are available. Put together a renovation plan and gather quotes to review with your local lender and discuss borrowing options.
Asking pointed questions throughout the home-buying process allows potential homebuyers to make informed decisions. Rather than walk away from the home of your dreams because it needs some work, contact Middlesex Federal Savings today to find out what solutions are available for your situation.
After asking these key questions during your home inspection, take a few minutes to review our "Complete Home Buying Checklist: 10 Steps to Buying A House!" so you are prepared for the entire home buying process!
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This content is provided for general informational purposes only and does not constitute financial, investment, tax, legal, or accounting advice. Individual circumstances and current events are critical to sound investment planning; anyone wishing to act on this information should consult with a financial professional. The information contained in these articles was obtained from sources believed to be reliable and accurate at the time of publishing. We do not represent that it is accurate or complete, and it should not be relied upon as such. All opinions and estimates expressed in this article are as of publication date unless otherwise indicated, and are subject to change.