3 May 2011

Know What You’re Buying

home inspectionA standard – but not mandatory – part of buying a home is scheduling a professional home inspection.

The idea behind a home inspection is to learn about the current condition of your home and the type of maintenance and repairs that you might wish to consider. Simply put, it’s a way to discover things that you may not discover on your own. For someone who has never owned a home, it’s a handy road map to understanding your new investment.

A home inspection is not intended to be a vehicle to facilitate a second negotiation on the property. While an inspection is helpful for discovering defects to major systems, it should not be used as buyer leverage to force the seller to make cosmetic improvements and minor repairs. However, an 18-year-old roof needs to be considered in the offer price.

The cost of a home inspection is based on square footage. Even if the seller has done a pre-inspection, it is still advisable for the buyer to schedule their own independent inspection. When you’re buying a home, there’s always room for a second opinion.

Something else that is important to consider is a survey of the property you are buying. Encroachments happen, and you need to know if your neighbor’s fence is over the lot line – before you close on the home. While it may not matter to you now, it could be an issue with the next buyer when it’s time for you to sell the home.

Allen Tate Companies
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