Even in the best of circumstances, home buying or selling is stressful, and some of the biggest potential deal-breakers lurk in the time right before the sale closes. Home buying stress can be easily avoided, however, with the following five home buying tips.
Home Buying Tip #1 – Home Inspection Results
Todays home purchase contracts typically include a home inspection contingency clause, which allows the buyers to choose and hire a home inspector to thoroughly evaluate the property. Once the contract has been signed, the home inspection usually happens quickly. Arriving with the buyer, the home inspector will go through the entire property for a thorough two- to three-hour evaluation of a homes structural and mechanical condition. Home inspectors may also do tests for , check for wood-destroying insects or perform other services requested by the buyer.
Findings can range from minor issues calling for low-cost repairs to major toxic troubles like the presence of underground oil tanks, , asbestos, termite infestations, rodent overruns, and lots of dangerous lead paint. Depending on the severity of the findings (which, by the way, are only reported to the hiring party), there is either a new round of home buying negotiation accommodating the price and execution of repairs, or an abrupt halt to the home buying proceedings due to costly and dangerous problems.
Here’s a home buying tip to help sellers avoid potential these hassles: before you list your home, have the home inspection done. That way, you’ll be fully acquainted with possible issues and have the opportunity to correct them or, as several states require, will be prepared to make a complete and honest disclosure that will reduce your liability as well as surprises during the buyer’s inspection. Thus, lower unnecessary anxiety and allowing a smoother transaction.
To find a local, qualified home inspector and more home buying tips for home inspections, visit the American Society of Home Inspector where you can also get acquainted with the home inspection process via a virtual home inspection.
Tom Kraeutler is the Host, Founder and Chief Home Improvement Evangelist of The Money Pit. He is a hands-on home improvement broadcast journalist and the kind of guy homeowners want to call at midnight when their basement floods. He first earned his home improvement stripes as a professional home inspector, amassing over 20 years experience learning how houses are put together, and how they fall apart!
