Use Your Inspection for ‘Credit Back’ at Closing and Future Maintenance

Wendy Weir
Published on June 29, 2015

Use Your Inspection for ‘Credit Back’ at Closing and Future Maintenance

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Many buyers assume that the home inspection is their opportunity to pick the home apart and find its flaws. While the inspection often results in a second round of negotiations, buyers should view the inspection as the introduction to their potential home. Here are four tips for getting the most from your home inspection.

Enlist a pro

It’s best to use a well-known, local inspector — preferably someone your agent refers. If your Uncle Bob is a contractor, it may seem like a good idea to bring him instead. But you need a licensed inspector who is familiar with the area, and different types of homes and systems. In many parts of the country – you need to check for Radon, Termites, Wells, Septic Systems… so be sure your Inspector can check ALL of these!!!

An impartial third party, the inspector should be a voice or reason, not an alarmist or overly optimistic. They are liable for inspecting to the best of their ability. Just REMEMBER – Inspectors can’t see behind walls or Paneling… watch for; cracks on the ceilings or walls near door or windows, water stains on ceilings or in the basement, a ‘musty’ smell, or a Strong Bleach smell – This is an attempt to possibly cover up MOLD which will return if not Professionally taken care of. Ceiling Water Damage – This is how you PROPERLY Remove Mold – With a Specialist !!! Blog - mold

Come prepared

Bring a list of your concerns and questions about the house. During the viewings, you probably had questions about some aspects of the construction. Write down your concerns.

If the seller provided property disclosures or you’ve received documents about the property from the local building department, bring them to the inspection. The inspector normally starts off with a discussion about what he seeks to accomplish, then asks what questions or concerns you have. Lay them out at the beginning so that the inspector can keep them in mind as he goes through the home.

Walk around with the inspector

Some inspectors prefer to work independently, but most will give you the opportunity to walk around with them. The Inspector I always used, had a ‘Team’ of at least 3 people.  They all had laptops. which when  they were finished – the Inspector – Immediately went over all the RED check marks with my client – and emailed them the report to look over later that evening. As often, there are ‘Issues – that need Immediate Attention’, these are written up in an Addendum, to have the item(s) repaired or replaced or a Dollar Value “credited to the Buyer’ for the Future – that’s ‘CASH BACK’. via Bigger Pockets. Items which were Flagged ‘Yellow’ were things to put on a ‘List’ for FUTURE REPAIRS. The Inspection is your BEST chance to learn about your home. You want to know and see firsthand where your water heater and electrical panel are. It’s easier to understand if you are there, in front of the inspector when he points something out, than to hear about it at the end. Jeffries Inspections LLC

As a homeowner, you will need to know all about your systems because there won’t be a landlord to call when something goes awry.

Use the inspection to compile a maintenance plan

Parts of the home often break down or fall apart because nobody properly maintained them. Changing the filter on the HVAC system, replacing old plumbing valves or monitoring leaks will help keep things working. Nobody wants a broken boiler in the middle of January, or their water heater to break mid-week. This is WHEN you pull out your Inspectors ‘List’.

I always recommend to Buyers to ask for a ‘HOME WARRENTY PLAN’ – from the Sellers – in the original Purchase Agreement. These things cover all Electrical, Plumbing, Heating, Roof, Foundation, Mechanicals, Appliances and much more… is there a Pool? Home Warranties SAVE you Time and Money!

The inspection is a great way to learn about your home and what it will need going forward. If the boiler is near the end of its life, find out what you need to do next winter to make sure it lasts the season. Make a financial plan to replace it in the future.

Home inspection is one of the biggest components of the real estate transaction. You should take it seriously, and come prepared to ask questions and learn about the home.

Wendy Weir Relocation – Real Estate Agent, Relocation Specialist, Birmingham, MI

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Use Your Inspection for ‘Credit Back’ at Closing and Future Maintenance
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