Photo by Derick Moreno | 239Listing.com
You’re finally moving. You’re making the cross country move. You’ve been away from your hometown for years living in a Denver apartment, but now you’re ready to purchase that beautiful home in Southwest Florida, — the one right along the water. The home with the huge fireplace, the rooftop deck, the swimming pool and even a master suite the size of your old place. You’re so close to becoming a homeowner. But there are a few things you must take care of before signing and finalizing the deal.
Buying a home is a major step in life. Other than the money you put into your new home, it is basically a decision that stays with you for a huge part of your life. You might raise a family in this new home. This home is the place where your kids will grow up and where you’ll spend your retired days. But whatever the scenario, your home must be inspected to make sure that you’re not taking any risks or causing any harm to family members.
The final home inspection is your chance to avoid a huge amount of problems before you make a big purchase. And at the least, you can use the inspection as a negotiation tool. But here are a few reasons you need to get that inspection completed first.
You may have finally beautiful recovered from years of a bad credit score and now you’re ready to make your first home purchase. If so, you are likely going to want to save every penny you can. The home inspection can help you avoid out-of-pocket repairs down the road by identifying problems before you purchase. This way, you can ask the seller to fix the issues before you move in.
You don’t ever own your home until the money exchanges hands, or should we say bank accounts. You might have put in an offer on the home prior to an inspection, but that doesn’t mean you signed a contract or have actually become the owner of the home. And this is a good thing.
Home inspections will reveal all of the flaws that you may have expected. After you have your inspection, make sure you have all of the notes prepared by the professional and bring these materials to the table with your seller. Have an open conversation about the price of the repairs and see if you can bring down the purchase price of the home because of the issues. You never know, so you might as well ask, right?
Just remember, be considerate of the seller and his or her goals and objectives. If you expect every inch of an old home to feel like new construction, then you might not have a great deal of success in negotiation for repairs.
Not only can you use an inspection as a negotiation for a lower price, but you can also use the inspection as a means to garner a few seller repairs prior to your move in. It’s commonplace for buyers to put clauses in their contract that require the seller to make update and changes deemed necessary from the inspection. If the seller isn’t willing to make these changes and adjustments, then you can likely find a way for the seller to remove the costs from the total purchase price — saving you even more money upfront.
A solid understanding about the condition and overall quality of your home will give you unlimited power in negotiations for repairs made by the seller.
A home inspection can detect safety issues like radon, carbon monoxide, and mold, which all homes should be tested for. Make sure that your home-buying contract states that should such hazards be detected; you have the option to cancel the offer to buy.