A home inspection is an excellent source of information about the property you're considering purchasing as well as how to maintain it. It can also prevent jeopardizing your well-being or the need for costly repairs since you will be able to recognize red flags during the inspection.
If you are including an inspection clause in your purchase agreement and the seller accepts your proposal, here is what will happen next:
1. Choosing your home inspector
Your buyer's agent can supply a listing of inspectors they trust completely, but you have complete control over who you hire and are not restricted to the list provided by your agent. You should indeed contact as well as schedule the inspection regardless of who you choose.
2. Working under a lot of pressure
The normal inspection contingency clause provides you 10 days from the contract's start date to inspect the property. In a competitive market, buyers may reduce this time frame up to 5 to 7 days. Whatever the case may be, you must act fast to accomplish the inspection.
3. The need for more than one inspector is possible
If you want a radon inspection, for instance, that should be arranged at the same times as the home inspection. Radon is not a huge problem in the Chattanooga area. Be sure to use a radon expert rather than a home inspector who "can test for radon."
You will also have a termite inspector inspect the property during the inspection period.
It is conceivable that your home inspection uncovers issues such as the existence of mold or potential structural issues that require further inspections. Try to finish all inspections inside that inspection period. However, in instances like this, your buyer's representative can guide you with your alternatives (potentially asking for more time to inspect other items).
4. Maximize the benefits of your inspection
Inspectors must cover a long list of details during the average inspection period. It takes about two to three hours for each. During the inspection, several inspectors encourage buyers to ask questions. Ask your inspector with regards to how they prefer working, for the greater outcomes. Also, keep your thoughts and feedback focused on particular aspects of the home inspection.
5. Prepare for the inspection with the help of your buyer's representative
Don't be surprised if your inspector calls out countless details and recommends minor repairs and improvements, because all homes require regular maintenance. If the inspection revealed no major flaws, you can feel confident in moving forward with the sale. If you have serious issues, you should consult your buyer's agent about your alternatives, which include asking for repairs or closing credits, or even canceling the deal.
Your choices are based on the severity of the problems and it all boils down to how much you want to purchase the property.
Call Nathan Walldorf to guide you through buying a home. 423-544-7700