Photo Home inspection by Nick Youngson CC BY-SA 3.0 Pix4free
Home inspections can cause anxiety for buyers, sellers, and real estate agents. Buyers spend a long time finding their ideal home. Much of this time will be in conjunction with their real estate agent. There has likely been tremendous thought put into specific elements, such as the kitchen layout or the location of bedrooms. The search can become tiresome, trudging from house to house. Once a buyer finds the perfect home, any frustration dissolves into pure excitement and relief. Unfortunately, finding a home is only the first step in the process. You will need to manage the mortgage process, appraisals, arrange for a title company, and the dreaded home inspection.
When you sell a home, there is tremendous stress to get everything in order. There is the listing process, the staging process, reviewing offers, and the home inspection. All of these must happen before you can walk into your Omaha title company to hand over the keys to your home.
Lenders may require home inspections depending on the type of loan. In addition, there are some types of loans that may require inspection issues to be resolved before closing. Fixing these issues could cause delays in the closing process. It is best to understand a bit about the home inspection process before you hire an inspector. This will limit any surprises when you receive the final report.
There will be no stone left unturned.
A home inspector’s job is to review every aspect of the home. Therefore it’s always best to address as many known issues as possible before listing your home for sale. Good inspectors pay particular attention to the details and not just the surface. It is common to receive a report over 50 pages long during an inspection. Some of this information will be extremely useful to buyers if they go forward with closing on the home. It will include an in-depth review of everything from the shape of the roof to any water concerns in the basement. Once they have completed this review inside the home, they will move outside to inspect any potential problems with grading or drainage. For buyers, the money spent on the inspection process will return its value to you many times over. Those selling a home may have to invest a bit more into the house before moving on.
Inspectors use technology to see what they cannot.
The use of technology has changed almost every industry. Home inspectors are not immune to this change. Technology like drones and small cameras gives inspectors access to the roof and things hiding in small spaces like the septic system. Sellers may not know about an issue with their private septic system and become devastated to learn there is a leak or other problem that may require correction before closing the deal. Correcting a septic system could cost thousands of dollars and require additional time during the closing process.
The closing could be delayed due to issues identified as safety concerns.
During the home inspection, the inspector will identify the good and the bad within the home. Any issue that needs attention will be listed with a corrective action plan. Inspectors may use colors to highlight the crucial points within the lengthy report. The color red often indicates a safety issue. Many lenders will not allow a mortgage to go forward when there are safety concerns. There are often small projects listed here that include things like a stove needing to be correctly attached to a wall or a staircase not having a railing. Missing smoke and carbon monoxide detectors are frequently listed as safety concerns. Buyers should work closely with their realtor and lender to convey any requests for correction to the seller. Sellers must be prepared to correct these things quickly and adequately not to risk having a buyer back out of the deal.
The home inspection process may feel daunting. Whether you are selling your home or buying a new one, this process is inevitable. The inspection report you receive will be lengthy and full of details about the house. Take your time and break it down into small sections focusing on any areas of concern, particularly any safety concerns. If it all seems like it is written in a language you don’t understand, have someone close to you with the proper knowledge translate it for you. You can address the issues and finally move on to closing day with your title company guiding you through the final steps.
Ready to get through the inspection process so you can buy or sell a home? Once you’ve gotten your report and are ready to move on to the next step, you’ll need partners like those at a title company. The expert resources at Trustworthy Title provide fast service for residential, commercial, and new construction properties. We pride ourselves on having the experience and knowledge required to keep our customers happy. Contact us today to get started.