You may be tempted to waive your home inspection in an effort to save on time and money; however, you may want to re-think that. Getting a home inspection is an important step in the home buying process that should not be overlooked. Even if the home was just built, you will still want to proceed with the inspection because something might have gone unnoticed. The home inspection should be included in your contract as a condition of closing.
An inspection should be arranged once you have a contract to purchase the home and is typically done 7 to 14 days after the contract has been accepted. The contract is generally made contingent on the home inspection. The home inspection will provide a detailed report on the physical condition of the house, such as roofing, plumbing, electrical, heating and cooling systems, insulation, windows, doors, and foundation. In addition, the inspector will also highlight things that may become an issue over time, for example, the roof might be in good condition now but may need to be replaced in a couple of years.
Once the inspection has been completed, your real estate agent can re-negotiate the contract, and request the seller to make the necessary repairs. The seller may agree to make all of the repairs, some of the repairs, offer credit, or say no.
When choosing your home inspector, take the time to interview two or three inspectors. Ask them about their credentials, licensing, and professional affiliations. You will also want to find out how many years they have been in the business, how many inspections they do a year, and if they have Errors and Omissions Insurance. The insurance can protect you should the inspector miss something in the inspection.
On the day of the scheduled inspection, it is important that you attend as well. If you are there the inspector can point out issues to you directly, and give you a clear picture. You will also have the opportunity to ask questions and get to know your future home.
The cost of a home inspection can range from $200 to $500, depending on the size of the house, location, and inspector. However, keep in mind that the inspection may help prevent unexpected problems from arising, and it can save you thousands in the long run.
If you are looking to buy or sell in Collin County, Texas, call The Fejeran Group today. We serve the North Dallas area and can help you reach your goals!