Home inspection is a vital part of real estate transactions, and it can surprise both buyers and sellers. If you’re considering buying or selling a home, use these ten facts to help you understand the inspection process better. At Fortune Realty, we work hard to ensure our clients have a clear path to their home-buying or selling goals. With that in mind, here are some unexpected home inspection facts that can help you along the way.
1. Home Inspections Aren’t Just for Buyers
While it’s standard practice for buyers to schedule home inspections, sellers can benefit too. A pre-listing inspection allows sellers to identify and address issues before putting the home on the market. This proactive approach can speed up the sale process and potentially increase the home’s value.
2. Newly Built Homes Need Inspections Too
Don’t assume that a brand-new home is free of defects. Construction errors, incomplete installations, or code violations can occur even in new builds. An independent inspection ensures that everything is up to standard before you move in.
3. Condos and Townhouses Require Inspections
It’s a common misconception that inspections are unnecessary for condos or townhouses. These properties can have issues with plumbing, electrical systems, or structural components that aren’t immediately visible. An inspection will also review common areas and shared systems that could impact your living experience.
4. You Can Attend the Inspection
Being present during the inspection offers a firsthand look at the home’s condition. You’ll have the opportunity to ask the inspector questions and gain valuable insights that you might miss from just reading the report.
5. Not All Inspectors Are Alike
Home inspectors come with varying levels of experience and certifications. It’s crucial to hire a licensed and insured professional who adheres to industry standards. Check for memberships in professional organizations like the American Society of Home Inspectors (ASHI) for added credibility.
6. Home Inspections Are Visual, Not Invasive
Inspectors evaluate the home’s condition based on visible and accessible areas. They won’t tear down walls or dig into plumbing. For more in-depth analysis, specialized inspections (like mold or pest inspections) may be necessary.
7. An Inspection Isn’t a Pass or Fail Test
A home inspection doesn’t label a property as “pass” or “fail.” Instead, it provides a detailed report of the home’s condition. This information helps buyers make informed decisions and negotiate repairs or price adjustments with the seller.
8. Environmental Hazards Are Part of the Inspection
Inspectors look for signs of environmental hazards like mold, radon, asbestos, and lead paint. Identifying these issues early can protect your health and save you from costly remediation down the line.
Definition: Remediation
9. Home Inspections Can Save You Money
Spending a few hundred dollars on a home inspection can save thousands in future repairs. Identifying issues before closing allows you to negotiate repairs or lower the purchase price, offsetting potential expenses after you move in.
10. Sellers Can Use Inspection Reports as a Marketing Tool
For sellers, providing a recent home inspection report to potential buyers can build trust and transparency. It shows that you’re upfront about the property’s condition, which can expedite the selling process and potentially attract higher offers.
Final Thoughts
A successful real estate transaction requires something more than a mere formality; it needs home inspections that reveal what’s really going on beneath the surface. If you’re on either end of the buying/selling equation, it’s beneficial to understand these surprising facts about home inspections and what they can mean for your negotiation power. At Fortune Realty, we have your best interests at heart. Contact us to put our experienced professionals to work for you.
