When buying a house, if you get a mortgage, you should have an inspection done on the place. If you are buying with cash, you also should have it inspected. When getting the results, a lot of buyers or potential buyers don’t know how to proceed. This is a problem, and it can cost you time and money. Here are four tips for handling your inspection results.
First – Ask them to explain everything, in detail: If you are buying a home or looking at getting one, you should know what an important role an inspection plays. To understand it more, you need to ask questions and not be afraid to have the inspector explain things, in detail. If they are a professional, they will have no issue in working with you. Ideally, when looking at the inspection list and seeing what is wrong, you should get a rough estimate on how much time and money it will take to fix the problems. This can help you understand it more, and it can help you make a decision on how to proceed with the entire process. Remember, a home inspection can help you decide to walk away from a bad transaction.
Second – Look at the results, in person: When you read the results, it is one thing to read it on a piece of paper and get an idea, but it’s another to find out what actually is going on. To get a better idea, you should walk around the property and look at the areas where the inspector noted. For example, if there is damage to the chimney, you should look at it and think about how you can fix it. Other things may be aesthetic, and you won’t have to fix them right away, and some things may never bother you. So, if you look at it in person, you can decide on how you want to proceed.
Third – Decide what you want the seller to fix: Without a doubt, you should ask the seller to fix some of the issues. Of course, some of them may need to be fixed right away because the building may not pass code otherwise. But, some things may be minor, and it’s up to you to determine what is minor and what is major. When doing this, if the seller is unwilling, you should ask him or her to drop the price of the home. That way, you can save some money and either do it yourself or hire a professional.
Fourth – Know what is major and what is minor: Finally, when you are looking at the report, don’t get scared. If you are buying an older home (or even a new one) things will come up. Instead of balking at the transaction or getting scared, you should understand that things happen, and you can fix most problems. Coupled with the fact that you can adjust your offering price or ask the owner to fix the problems, and you can see why panicking is a waste of time and energy. Instead, simply look at the issues one by one and determine how you want to proceed with the transaction. Once you treat it as another part of the process, you can proceed without fear or trepidation, and you can understand why an inspection is important.
If you are buying a home, you must get it inspected. Don’t worry, when inspecting the place, if the inspector uncovers things, it’s just one more step in the buying process. By proceeding with caution, you can ensure that the entire transaction goes well, and you get what you want out of the experience.
If you have questions about your inspection results, please contact our Mortgage Advisors at (800) 927-6560 or click here to contact us online.