A home inspection can help your clients make sure the house they want gets a clean bill of health before closing. There are many things to look for when getting a home inspection, which is why having a checklist like this one is really important.
No matter what kind of house your client is looking at, a good home inspector should always check the same basic features. A home inspector can save your clients a lot of money by catching any big problems, but you should make sure they’re prepared for any bad news about their dream home.
So, what happens if the home inspection goes bad?
It’s simple. Your client can do two things: leave the home behind or renegotiate the price to cover the cost of fixing the issues.
If your client has fallen in love with a property and the home inspector finds a major problem, don’t be afraid to warn them against buying it. For example, if the home has a cracked foundation or structure, tell your clients that no matter how much they love the home, it probably isn’t worth the amount of money it would take to fix it.
Homebuyers should avoid buying a home that:
- Sits on a fault line
- Sits in a floodplain
- Has a severely cracked foundation
- Has a contaminated water supply
Nearly everything else is fixable, but at a cost. Ask your clients: Is fixing up this house the smartest financial move you can make?
Make sure your clients know the risks and possible expenses of any fixer-upper. In the end a home inspection helps both you and the buyer, so make sure your clients get one.
Rainers: How do you tell clients bad news about home inspections? Do they usually buy it anyway, or start looking for something else?
Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blog and CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.
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