Possibly with all the home improvement shows, the desire for a “perfect” home, many home buyers sometimes fail to understand used homes are not perfect. Home inspections are valuable because these reports can identify structural and safety issues from foundations to electrical panels. Additionally, potentially "not perfect" issues such as settling, older appliances to AC and heating units not working efficiently as newer ones.
In AZ, the purchase contract includes the submission by the sellers of a property disclosure statement (SPDS) within three (3) days after the residential contract acceptance. My sense is the reason for this is that this statement can be available when working with a home inspector.
When I work with home buyers who are financing the purchase of the residential property, my suggestion is to review the home inspection report specific to structural and safety issues (electrical and plumbing) and not to be “picky nitty” about some of the non-structural and non-safety issues. This is especially true if the buyers have made an offer that is more than 5% or more below market value.
By asking for small home repairs (usually aesthetic) such as repaint this room or replace the appliances because they are old but working, may only annoy the sellers and may cause the residential purchase contract to be cancelled if the sellers are not willing to make those requested home repairs and the buyers are insistent.
For cash buyers, again the recommendation is structural and/or safety. The home inspection report can become a check list for future repairs. When we purchased our home, we were advised the roof had 3 to 5 years life left. There were no roof leaks in the home. And the inspector was accurate in his assessment.
No home is perfect and that includes new construction homes. Buyers pay for a home inspection and expect a detailed report. Sometimes the home inspector goes beyond his or her knowledge and this creates problems for all parties involved in the transaction. I have witnessed this often with electrical issues. NOTE: Just as professional real estate agents should operate within their own field of competency so should home inspectors who are usually not licensed electricians, plumbers, etc.
First step is to review the home inspection report with the home inspector. Highlight any structural or safety issues. Next make sure your professional real estate agent receives a copy. NOTE: Read the reviews of the home inspector before hiring any home inspector. Communicate and collaborate with your professional real estate agent who may have additional knowledge as well.
Then review the Seller’s Property Disclosure Statement along with the home inspection report with your professional real estate agent who should have read the inspection report as well. Discuss and determine if any structural or safety concerns are present. Then depending upon the state, use the proper document to request those repairs by the sellers. Often the home repairs are requested to be performed by a licensed contractor.
Remember to be sensible in your repair request especially if you really want this home.
Leanne M Smith, The Grit and Gratitude Agent Who Goes the Extra Mile Because Life Begins Where the Pavement Ends.
Feature Photo Courtesy of Pixabay.com
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