HOME INSPECTIONS: Now that you have a home picked out and you have successfully negotiated an offer that both you and the sellers can agree upon you start the purchasing process. Your lender will receive a copy of the contract. In our state the Title company will pull your title report to check the home you wish to purchase and make sure the title is clean. Your lender will begin to ask for additional documentation from you depending on what the underwriter is requesting. The sellers will provide you their sellers disclosures and you will work on getting your due diligence(s) taken care of. This includes (if the home has an HOA) all the HOA information, if you want a survey possibly the survey, any information regarding the well and /or septic system. If you are building there are additional due diligence steps you need to take I will cover at another time. If you are purchasing an existing home the one step you have probably already thought of or heard of is the home inspection. *the due diligence period may also include additional items like verifying zoning, rents etc this is just a general idea of what this step might include*
Home Inspections, Yes you should get one! Whether you are purchasing an existing home or a new construction home a home inspection is always a good idea in my opinion. You have the option in Utah. You can do your own inspection, you can have your uncle who is a plumber inspect the plumbing and your cousin the electrician look at the wiring for example or you can hire a licensed home inspector for all or part of it.
When it comes to Selecting an Inspector here are a few items to consider/ask:
1. Ask what their inspection covers. Can you see an example of a previous report? make sure you like the style of how they will be reporting issues to you and that they are covering all the areas you want covered.
2. Do you offer additional testing i.e. meth, mold, radon, stucco for example. If you do what are your procedures for the testing and cost.
3. When should I expect results from the inspection? What do you charge. How long does it take?
4. What if an issue is found.... do you have contractors/contacts that you would suggest to bid out the repairs or repair the items.
5. Will you meet with me at the house to go over what you have found? Do you break the findings down by urgent/safety hazards and to-do's/fyi type of list?
6. Are you licensed? What type of training have you received? Do you participate in continuing ed classes/education?
A home inspection is a very informational part of purchasing your home. This step can tell you if there are hidden items that you are not able to "see" by walking thru the home. A home inspection may seem like a lot of money upfront but you are paying an expert to come into the home you are potentially purchasing to help you determine the true condition of the home.
What if you didn't have an inspection and moved in to only find out later that the home tested positive for Meth?
What about another silent killer like
Radon?
Mold?
Issues with wiring, plumbing, tree roots in your pipes, stucco, roof are all issues that can result in a lot of money out of your pocket. Wouldn't you like to go into purchasing your home with all of this or at least as much knowledge as you can get upfront? Inspections in our area run around 350$ depending on the size of the home. Additional test like meth, mold, stucco, radon do cost more but again isn't it worth it? At least consider the pro's and con's of each test even in new construction just because its new doesn't mean it was done correctly! I have had buyers of new construction complete home inspections to find items like radon and electrical. One even found that garbage was inside their walls with the insulation. You just never know.
An inspection is one of those items that you should budget for when preparing to purchase a home. Take the report and results and review them with your inspector, Realtor and other professionals. There are items you may want to ask the seller to remedy. There are other items that you will put on a to-do list down the road. No home is perfect whether its new or old. An inspection will help you know whether the condition of the home is something you are able to handle financially or if it is a deal breaker.
Be wise, don't skip this important step!
For help purchasing your next home call me
Kim Boekholder
801-580-5624
Comments(1)