If you’re buying a home, there’s a good chance you’ll have to go through a home inspection. This is a process where a professional comes in and looks at the condition of the property. They will check for things like mold, leaks, and structural damage. We are here to discuss what the home inspector is looking for and what is included in a home inspection report.
The home inspector will inspect the property from top to bottom. They will look at the roof, windows, doors, and eaves. They will also check for any signs of water damage or leaks. The inspector will also check the foundation, framing, and insulation of the home. In addition, they will test all of the electrical wiring and appliances. They will also check the plumbing and HVAC system.
The home inspection report will list all of the problems that were found during the inspection. It is important to note that this is not a repair list. The inspector will not fix any of the problems that they find. It is up to the buyer to hire a contractor to fix the problems.
The home inspection is a very important part of the buying process. It is the best way to find out if there are any major repairs that need to be done on the property. It is also a good way to get an idea of how much it will cost to fix these problems.
The most common time to get an inspection is during the preliminary inspection or contingency period. This is usually the time between when you make an offer and close on the property.
What happens if there are major items on the inspection report?
In the event that there are major items on the inspection report, you will have a few options. You can ask for repairs to be done by the seller, renegotiate the price of your offer if necessary or walk away from it completely if you feel like it’s too much work for what you want to spend.
If there are small items on the inspection report, you can usually have them fixed by the seller without any issue. It’s important to remember that these are not repairs, they are just small things that need to be taken care of.
While every transaction is different, here is what we would consider walking away from assuming the seller is unable or unwilling to remedy:
A non working HVAC System
The HVAC system is one of the most important parts of a home. It’s responsible for keeping us cool in the summer and warm in the winter. If you’re considering buying a home with an HVAC that doesn’t work, then there are some things you should consider first. The main reason to walk away from this type of property is because it will be very expensive to fix once you buy it.
The average cost to replace an AC unit can range anywhere from $3,000-$10,000 or more depending on how big the unit is and what type of AC unit you need. A typical furnace replacement costs about $4,500-$7,000 installed plus additional fees for gas piping installation and other related expenses such as duct cleaning etc.
Any significant foundational issues
If the home inspector finds any significant foundational issues, it’s best to at least consider walking away from the deal. This is because these problems are usually very expensive to fix. In some cases, it may not be possible to fix them at all.
For example, if the home has been flooded in the past and there is evidence of water damage, then it’s likely that the foundation has been compromised. This means that you will have to spend a lot of money on repairs in order to make the home safe to live in.
An aged roof that is in need of replacement
The average cost to replace a roof can range start from $5,000-$10,000 or more depending on the size of the roof and the type of roofing material that is used. A new roof can also increase your home’s value by about 10%.
Cracks or settling that has made it into the trusses or framing of the home
If the inspector finds any cracks or settling in the trusses or framing, it’s best too highly consider walking away from the deal. This is because it usually means that you will need to spend a lot of money on repairs in order to make the home safe to live in.
In some cases, it may not be possible to fix them at all.
These are just a few examples of things that you may want to consider walking away from if the seller is unable or unwilling to remedy. Always remember, every situation is different so it’s important to consult with your realtor or lawyer before making any decisions.
