By Lisa Garasaud
Inspections have become a stumbling block to the real estate transaction.
The seller is selling the house “as is”, and he is not interested in doing any repairs. Quite frankly, they think the house is nearly perfect.
The buyer wants the house they buy to be perfect, and they have an eagle eye that hones in on the slightest imperfection. They are very nervous and skittish. Especially, first time home buyers. This feeling is understandable due to the fact that the purchase of a home represents probably the largest financial transaction that they will make in their lives. With that said, you must be realistic. No home is ever going to be perfect. Not even a new construction will meet a perfect expectation.
Before putting in an offer on a house, remember you are making the offer based on the property’s apparent current condition. For example, if you can see that there are broken windows, then that is not something you should ask for during inspections. This is something you could easily see with the naked eye. You should take that into consideration when negotiating the purchase price. However, if after the video pipe inspection you find out there are broken pipes under the slab then that is something that you never would have seen with the naked eye. That would be a legit problem to ask that it be repaired.
Let’s look at the inspection process:
First, be sure to read the purchase agreement before you sign. The “Inspection and Due Diligence Period” includes more than just the actual inspections. This period is also the time that you need to verify school districts, homeowner’s and flood insurance quotes, get an elevation certificate, verify zoning, check the sex offender lists, crime stats, verification of square footage, and to review subdivision restrictive covenants.
The buyer hires and pays for all inspections, so you want to have inspectors that work for you not the seller.
Now, we get to the actual inspections. They are best done by professionals specifically licensed in their field of expertise. The home inspector does the overall general inspection of the house, and the pest inspector checks for wood destroying insects. The plumbing inspector runs a video camera through the sewer lines under the slab to check and see if there are any breaks in the pipes. The HVAC inspector does a through check of the A/C and heating system. If the home inspector finds any issues, they may recommend additional inspections or testing. All of the inspections must be non- damaging to the home.
One last note, the fact that a functioning major component may be at the end of its useful life does not become something that must be replaced with a brand new component. This may be the time to explore a home warranty. If you really think about it, everything in the house is going to wear out at some point.
Welcome to home ownership!
Now, a word to the seller. You need to be realistic. If a major problem is discovered, it’s in your best interest to try and work with the current buyers that want your house. You are going to have to disclose the new found defect to any new buyers, and the process will start all over again. You want to sell your house, and you have a buyer that wants to buy your house, so now it is time to remain calm.
Knowing all of this, do you really want to go through this whole home buying process without a licensed real estate agent on your side? The best news is a buyer’s agent is FREE to the buyer. The seller has already agreed to pay the buyer’s agent when they signed the listing agreement.
The Garsaud Group of Keller Williams is a mother/daughter team. Lisa Garsaud has over 14 years of experience helping buyers, sellers, investors and builders. Courtney Garsaud Olivia is the Director of Operations, and she will make sure all of your transactions go smoothly. Our clients get the benefit of two full time licensed realtors®.