The process of purchasing a home includes specific steps and details that you want to complete to make sure your purchase is protected and you get the most out of your money. Along with evaluating property values and shopping for the right mortgage loan, be sure you include a professional inspection in your purchase process. Here are some tips to help you make the most out of your home purchase process with a professional inspection.
Write the Purchase Offer
When you have found a home that you want to purchase, you will write up a purchase contract to offer a specific price for the home and include other details within the purchase. Some details may include a certain time frame for the seller to move out after closing on the purchase or specific appliances in the sale that are normally not included, such as the fridge, washer, or dryer.
However, in your purchase contract, it is important that you write in a contingency to arrange for a home inspection within a period of time after the contract's acceptance by the seller. This deadline allows you to hire a home inspector to go through the home from top to bottom and look at the outside as well and determine if there are any issues, problems, or needed repairs in the home.
A professional home inspection will usually take several hours to complete and will include a final report with photos and examples of any issues the inspector has found. When you receive the report, you can review it and decide if you want to adjust your purchase offer to include allowances to make specific repairs to the home or you can also request the seller to repair items before you close on the home's sale. And as another option and as protection for your position in the contract, you can walk away from the home purchase if you find problems in the home that you are unable or unwilling to take on. With this contingency, you can walk away and still get back the deposit you have put down toward the home's purchase.
Check Into Plumbing Inspection
A home inspection includes a major overall inspection of the home and its systems, including the electrical, interior plumbing, HVAC, foundation, and roof. But, keep in mind the inspection will not usually include an interior inspection of the home's plumbing line connecting the home to the city sewer line. Therefore, you can hire a professional plumber to inspect the plumbing line visually to look for any problems relating to age, compression, or interior damage. Repairs to a plumbing main can cost a few thousand dollars, and if the home's line is experiencing failure, you should find out before you close on the sale.