Though it’s an important step in the home-sale process, and one that can seem daunting to buyers and sellers alike, a home inspection is nothing to fear. For buyers, it can provide some peace of mind about the largest purchase you’ll likely ever make. For sellers, it’s another way to offer transparency about your home’s condition and show that you’re operating in good faith.
How does it work? Usually, the timing and obligations of a home inspection are specified in a contingency clause of the sales contract. The buyer chooses and pays for the inspector. Be sure the one you select is a licensed professional. Ask your Coldwell Banker® agent or check with the American Society of Home Inspectors (homeinspector.org) to find one in your area.
As a buyer, it’s important for you to attend the inspection, which typically takes several hours. This will enable you to learn about the proper upkeep of your new home and to have a complete understanding of any issues uncovered. Items that may seem like a big deal on the printed report could actually turn out to be quite minor when explained to you in person.
With the inspection report in hand, you can determine what, if any, repairs you would like the seller to make. The seller may agree to all the requested repairs or may counter-offer with a revised list. The contract will have established a framework for these negotiations, with closing being contingent on everyone coming to terms. Once an agreement has been reached and repairs made, it’s on to closing!
For more expert home buying or selling assistance, visit your local Coldwell Banker Residential Brokerage office or ColdwellBankerHomes.com.
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