What Questions should Home Buyers ask After a Home Inspection?
So, you found a house, made an offer, got it accepted, gave your deposit, and you are now in your conditional period. Congratulations for coming to this point!
Here’s where sh*t gets real!
Your Home Inspector will spend time looking around the house (expect 1-3 hrs depending on size of home), inspecting rooms (including attic and accessible areas), taking photos, then they will explain to you their findings as they walk you around the interior and exterior of the home to show you what’s what.
Let me warn you… You will have a list of defects.
No home is perfect!
Don’t be nervous though…
Most of the issues on home inspections are minor (think loose taps, no hand rails etc), and can usually be negotiated (even if that means the Seller fixing it before closing day)
You should ask your Inspector (and Realtor), what they think the minor items are.
More Importantly, ask them what the Major issues are, and how they can be remediated.
This could be anything from removing vermiculite insulation, bringing wiring up to code.
In the Inspection Report that your Home Inspector will provide you (within 24 hrs), it will have photos of the home, with all defective items outlined, those in need of repair, and those entering the last stages of their life span.
Defective items aren’t necessarily ones that don’t pass building code. It could be a cracked window. It means the function or fixture is broken and should be replaced.
These items could be negotiable.
I say could be negotiable depending on the offer status (if you were in multiple offers or there is pressure from a Buyers market, the Seller may not be willing to give you a discount for the defects if they have Buyers lined up)
Keep in mind that your General Home Inspector likely doesn’t specialize in inspecting fireplaces, or fixing roofs or certifying water wells. You may want to ask a professional roofer, electrician etc to inspect specific areas of concern.
Ask if you should hire another professional/specialist to take a closer look.
Keep in mind that your inspector can’t tell you to take a certain amount off of the purchase price. That is ultimately up to you, with your Realtor and Inspectors advice, to come up with a strategy to present to the Seller.
After your home inspection, discuss with your Realtor if you will be going back to the Seller and asking them for:
Lower the purchase price
Fix the items before closing date
Usually the Buyer or Seller will have a To-Do List after the Home Inspection.
Until your conditions are up, you can walk away from the deal and get your deposit back.
This is your opportunity to really make sure this is the home for you