Home Inspections
Inspections of a home and its surrounding property are extremely important safeguards that a diligent agent will emphasize and the buyer should carefully consider.
Often, a buyer makes an offer to purchase a home knowing only what appears on the surface. Inspections by various professionals will inform the buyer of potential problems that exist with a property.
The terms of the purchase agreement provide that if an inspection reveals a problem, the buyer can walk away from the purchase unless the seller corrects the problem. The actual situation usually involves a negotiation with the seller either correcting the problem or a price adjustment. This phase of a real estate transaction introduces negotiable issues; the buyer must have a realtor on their side that doesn't have any split loyalties during this critical period.
With a newly-finished home, the warranty of a reputable and solvent builder will cover most potential problems with the building. The buyers should feel free to have any inspections they deem necessary.
With an existing home, the buyer should have a full pre-home inspection, the results of which may warrant further inspections. Again, an agent who is representing only the buyer can provide objective advice; an Exclusive Buyer's Agent is not trying to sell that particular home.
Some items inspections will address include:
- Pest inspection (termites, dry rot)
- Building and systems
- Plumbing and electrical
- Roof
- Swimming pool/spa
- Septic system
- Well
- Foundation
The buyer's agent should consult with the client to determine which of the inspections are appropriate in each circumstance.
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