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What you need to know about a home

Home inspections are a vital aspect of the home buying process.  Although some homes may appear virtually flawless, it's highly recommended that you still obtain applicable inspections that can inform you of the home's true condition.

There are various inspections a home buyer can have performed on the home they are interested on buying.

Which inspections to order can depend on various factors, such as the Buyer's concerns, type of property, age of property, geographical area, condition of the home, lender requirements and a variety of other available inspections.

Home Inspections

Who Pays For The Inspection(s)?
The party responsible for paying the inspection(s) is negotiable.  With foreclosures, HUD homes, short sales and similar property types, the Seller generally sell the home as-is, but give the Buyer an opportunity to conduct inspections at their own expense and for their knowledge only.

Termite Inspection Home Buyer's using a VA loan cannot pay for their own termite inspection.

In this case, an exception can some times be made by the Seller, even with distressed properties.

What If The Inspection Report Recommends Repairs?
On the contract with some Sellers, a repair allowance can be negotiated for possible required or preferred repairs.  On some transactions such as foreclosures, HUD homes and short sales, the repairs may be left to the Buyer to decide if they're a break for them and if they desire a repair, it will be at the their expense.  Lender required repairs may be taken into consideration by the Seller at their discretion.

Some repairs cannot be made prior to closing, as with HUD homes.  HUD can require that any repair be made outside of closing at the expense of the Buyer.  Required repairs and costs on HUD homes can be found on the escrow repair documents attached to the listing.  Buyer's can opt to have these repair costs rolled into the home loan.

Interested In Learning More About Home Inspections?
There are more variables regarding home inspections that can be covered on this page.  We can help break down what inspections you should consider, the costs and what to expect. 
Contact us with any questions and concerns that you may have.

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