All of the time and effort you put into finding a home has finally paid off and you're under contract! Now, it's time to get the home inspected. Here are a few suggestions to keep in mind before, during and after the inspection.
Have Realistic Expectations
Know going into inspection day, every house will have a list of items that need to be repaired. The list may seem overwhelming at first and visions of cash flying out of the window will abound. Relax...it's probably not as bad as it sounds. Many items found during the inspection are easy and inexpensive things to repair.
While an inspection is thorough, it is not possible for an inspector to find every issue as they are not able to see behind walls or under floors. Also, they can not predict the future...they make informed estimations on the remaining useful life of an item but there are certainly no guarantee's.
Inspection Day
Set aside 2-3 hours to complete the inspection depending on the size of the house. During this time, the inspector will take detailed notes along with photographs of their findings as they go. When the inspection is complete, the inspector will prepare a formal report for you to review.
Whether you attend the inspection or not is entirely up to you. Some people want to be there the whole time and others do not. I would recommend at least coming by when the inspection is complete so that the inspector can review their findings with you and show you items of concern while you are both at the property.
Report Review & Contract Re-Negotiation
Start by reviewing the major items like the roof, air conditioner, foundation, etc. If there are serious problems noted about these items, you may need to have a specialist come out to see the issue in person and provide you with a cost estimate to repair.
Once you have determined what it will cost to make all of the repairs, talk to your real estate agent to discuss how to best present your findings to the seller. Keep in mind, just because you estimate there are $2,000 in repairs, doesn't necessarily mean that the seller will drop the price by that much. Be realistic with your "ask" and provide as much support for your request as you can. You may need to pick and choose which items you want repaired or how much of a credit you're going to ask for. This is especially important when there were multiple offers on the house or there is a back-up offer in place.
The bottom line is to be flexible and understand nothing is perfect, especially a house. Even brand new construction can have defects that need correcting before you close.
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Brent Burns is a REALTOR® with the Carpenter | Kessel Team. Brent serves clients in Indialantic, Melbourne Beach, Indian Harbour Beach, Satellite Beach and surrounding communities.