Buying a new home is exciting and scary which is why you want to make sure everything in the house is up to code, safe, and won’t need costly repairs a month after moving in. Home inspections are a crucial step in the home-buying process that offers you peace of mind and visibility into any potential problems.
With our home inspection checklist, you can be completely prepared and learn everything you need to know about inspections.
A home inspection is a non-invasive visual inspection of a home’s physical structure and its systems. They occur when a seller accepts an offer from a potential buyer. If nothing drastic appears and everyone is in agreement, a purchase order is signed and the house is now in escrow.
However, if you do find an issue, you can negotiate with the seller for a lower price or to have the issue fixed before closing. You can even decide to cancel the deal if the problem is too big or you can’t come to an agreement with the seller for a lower price.
The home buyer is the one who usually fronts the cost for a home inspection because it’s a service that protects them from the undue burden of moving into a home with lots of problems. The average cost of a home inspection can range from $300 to $450. The gap in price stems from different factors such as the location, age, and size of the home.
Although that may seem like a large sum upfront, it could save you an even bigger expense down the road. Noticing a problem with the roof during the inspection would save you around $11,000 in roof repairs or replacement!
After finding a home inspector you trust, they’ll head to the house in question and search every part of the structure. Even though you’re not the one doing the actual inspection, it’s good to know what they’re looking for so you can ask the appropriate questions and better understand the extent of the damage.
All of the information that the home inspector collects is written up in a home inspection report. In addition to this report, the home’s seller will draft a seller’s disclosure statement. This statement, along with the report, will help the potential buyer get the whole picture of what they’re buying.
The seller’s disclosure statement outlines all the details or problems with the house that the seller knows about, potentially identified during preconstruction, that otherwise might not be obvious. Requirements for this document depend on local, state, or federal laws. It’s beneficial for sellers to draft an accurate statement because it can protect them from being sued by the buyers after the sale is complete.
Our technology makes it easy to assess the damage. Homeowners can use the HOVER app on their smartphone to take photos of their property. HOVER then uses those pictures to provide inspectors or insurance adjusters with highly accurate and detailed measurements and information. With the app’s precise property calculations, they’ll have exactly what they need to process claims and write reports almost instantly.