It may seem tempting to just simply skip this step and wing the home selection process based entirely on instincts, but getting an inspection is actually worth every second of your time. It may seem like it may require some patience and effort (I’d be lying if I said it didn’t) to do but this part of the home-buying process actually works for your best interest. Just follow the steps prepared below and keep them as guide to help you succeed in your home buying endeavor.
Choosing the Inspector
The initial step to a classic inspector selection is getting recommendations from friends, family or even co-workers. Your agent can also suggest recommendations or if you prefer to carry out this step on your own; you can use the internet for reference! HomeAdvisor has a great list of dependable inspectors but be wary of experience and reviews as testimonies will weigh heavier than the service free. Purchasing a home in Denver is one of the biggest expenses you can make and being too frugal may lead to regrets in the end.
Add-On Inspection Services
Next is to decide whether you’d like to avail of add-on inspection services like radon, mold, and sewer-scoping. The inspector you chose to do the job will be a great help in regards to the decision-making. A good web reference is EPA for its dependable information about mold and radon. Newer homes may not require sewer scoping as much as older homes. Areas like the cellar and basement also require radon inspection more than areas like the garden and kitchen. And if you happen to catch a mushy scent don’t just shrug it off, this could be a sign of water damage and may require a mold or air-quality inspection.
Schedule the Inspection
After going under contract have the inspection scheduled immediately. Pick 3 timeslots to avoid going back and forth with the inspector regarding the schedule and have him confirm which he would prefer. Remember to add the confirmed schedule to your calendar or set a reminder on your phone.
Attend the Inspection
Be present throughout the whole inspection but let the inspector do his job in peace. He works to your advantage but don’t forget to do your homework as well. Read up on what you should know about home inspections prior to the actual inspection. Certain concerns like maintenance on roof and common areas may be HOA’s responsibility. The condition of the home indicates which parts of home requires the most attention. You shouldn’t worry too much about cosmetic concerns like worn out paint, caulk; rare but this may result in the seller completely turning down your offer.
Read the Inspection Report
Since you are the prospective buyer of the house, it’s best that you review the inspection report thoroughly. Rule of thumb is that most sellers are more likely to address problems that are seen as health and safety hazards. If the seller wishes to sell the home as it is, decide whether you still want to pursue the purchase or not. The renovation costs could end up being your worst nightmare. But if you think about your decision thoroughly, you can end up happy with making the investment!
Submit Inspection Objection
You should then make a list of the problems that you want to be addressed by the seller. Send it to your agent so he can prepare it as part of the inspection objection. You don’t have to agree with your agent but listening to his opinion can help you make your final decision. Stick with the deadlines as stated in the Contract to Buy and Sell before actually submitting the objection. You also get higher chances of saving on appraisal fees if the inspection is done quicker.
Sign the Inspection Resolution
The final step will have the inspection resolution sent to you by the seller. Check if all the negotiated items you requested for are in it. Inform your agent immediately if you don’t agree with the proposal. Both the Notice to Terminate and Earnest Money Release will be supplied by your agent. Make sure to send the necessary papers in a timely manner to avoid jeopardizing your hard-earned money.
Note: Don’t let your ego overrule your decision-making. Most items listed in an inspection objection are postponed maintenance activities. If you feel like a home in Denver could be perfect for you, then be flexible with your demands. A less likable home in a good location is way better than a great home in an undesirable location. When it comes to the home-buying trade, the only thing that protects investments is location, location, location!
If you happen to feel confused, unsure or just need help, call this number 720 5151051 to reach Rajanikanth Maddhi. He’s open to helping you out with your real estate concerns here in Denver.
What if you love the house so much and it only requires a few tweaks? Would you ever consider buying it even if the seller refuses to agree with your repair demands?