Home Inspection Reports and What they Reveal
Last week, some of my buyers had their home inspections on the new home they are purchasing in Spring Hill, Florida. Some of my sellers just signed a contract and are awaiting to hear when the inspections will be scheduled.
Both, buyers and sellers sometimes get a little apprehensive about home inspections and the potential findings. To ease people's minds, one of the home inspectors recently shared a few observations with me:
His advice: most of all relax. Many of the findings of the inspection will be minor imperfections, maintenance recommendations, or comments on life expectancies of the home's components and systems. Certainly, this is nice to know about.
On the other hand, some issues do matter more and he categorized them as follows:
1. Major defects such as structural failure.
2. Things that will lead to major defects, for example plumbing leaks..
3. Things that may impede the buyer's ability to finance, legally occupy or insure the home.
4. Safety hazards, such as an exposed, live buss bar at the electric panel.
This is great advice. Naturally, anything in these categories should be addressed. Often a serious problem can be corrected inexpensively to protect both life and property. A little will go a long way!
Most sellers are not aware of problems and are often surprised to learn of defects that are uncovered during an inspection. Depending on the contract, sellers may or may not be obligated to make repairs. And if they do, not everything that is mentioned in the report may be required to be repaired. Often it is also to the sellers advantage to know of any defects especially if they are of such a nature that they could lead to greater problems. It is important for buyers and sellers to know that no home is perfect.
I usually prepare buyers and sellers that home inspectors are striving to do a thorough job and most likely will find something that may need attention even in a very well maintained home. It is their job after all and buyers want to know.
Today's home inspection was not any different. Some minor issues were identified by the home inspector that will not become deal breakers.
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