Your Home Inspection is Complete. Now What?

Your Home Inspection is Now Complete. Now What?

Now that your home inspection is complete, what’s in store for you next? That’s a very good question to ask especially if it’s your very first time buying or selling a home. You’ll want to know how long it takes before you hear the results. You’ll also want to know the next steps to take after passing or failing.

Advice for Sellers

Here are a few things for you to consider if you’re the seller:

  • There’s a good chance that even the newest home will have flaws. It’s best to know upfront what types of issues you’ll be dealing with so you can remedy them and get your home sold.
  • It’s best to be upfront about what’s wrong with the house. A disclosure agreement allows buyers to know exactly what they can expect where repairs are concerned. People do not like to be caught by surprise and if a home inspector is going to notice a flaw, it’s better to be the one to tell the buyer about it. This will keep them interested in the home and prevent you from looking like someone with something to hide.
  • The buyer will want to negotiate if there are problems to be found. They’ll either ask you to come down on the asking price of the house or pay to fix the issues before agreeing to purchase the property. In either case, you’re going to be out some money but it’s far better to have a house sold rather than deal with two properties and one that stays empty.

Advice for Buyers

Here are a few things for you to consider if you’re the buyer:

  • There is no such thing as a perfect home. A home inspection will provide you with peace of mind.  Even new homes should go under inspection. A home is an investment that will cost you a mint. Spend extra to insure that your property doesn’t need expensive repairs like a new roof or foundation.
  • Even if a buyer has had an inspection, you should schedule your own. It’s well worth the price to have the home inspected when you can be present to do a walkthrough with the inspector.
  • A problem with a home gives you wiggle room. If the seller was reluctant to come down on the price prior to an inspection, they’ll have little choice once they get the results from the home inspector. They want to sell the home and will be more willing to negotiate once they’ve learned there’s a problem with the property.
  • Plan on paying for upgrades. You can count on the seller to pay for repairs but foot the cost of upgrades. Despite needing a new refrigerator or stove, if the home has one, it’s not necessarily a necessity unless the appliance is clearly in need of repair or replacement.

Buying a home is exciting and a home inspection doesn’t have to be daunting. If you know what to expect in regards to a timeframe for the inspector to have the results back to you, you’ll not fill yourself with worry over whether or not your home is up to par. You’ll know when to expect the results and the appropriate steps to take after.

It doesn’t matter if you’re the buyer or the seller, a home inspection is a necessity in either case. After the home inspector has walked through the home and delivered his report, you can move forward with the buying or selling process accordingly. After all, problems only get bigger with time and it’s best to find out right away what repairs and upgrades are needed before signing any contracts.

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