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home inspection

General

How To Negotiate The Cost Of Repairs After A Home Inspection

There’s nothing like it. “It” being the feeling that you have when after finding the perfect house, making an offer that the seller agrees to and in your mind believing that you’re just weeks away from moving into your new home.

Except there’s a (potential) catch. Before you are able to officially declare the house as your own, a professional home inspection must take place. Although that takes a bit more time, honestly, that works in your favor because if the repair list amendment cites that the house has things like plumbing and electrical issues, that the roof needs to be replaced or that there is a problem with the heat and air unit, this means that you need to go back to the drawing board with the seller to renegotiate a new price.

If you’re curious about how to go about doing just that, we have provided a few things that you should keep in mind as it relates to the seller and also to you as the potential buyer:

May 31, 2013

General

The Costs of Buying And Selling A Home

When you consider the costs of buying and selling a home, it’s a good idea to wait to buy a house until you are sure that you will live there for at least 3 years if not longer. The reason is that the cost to buy and sell a home can be quite high and you will be unlikely to recoup all of your expenses if you only live in your home for a short time.

Some of the expenses you will incur include:

Appraisal fees – Your lender may want you to get your home appraised in order to have an independent assessment of your home’s value. This can cost from $150 to more than $300.

Inspection fees – It’s always a good idea to have a qualified home inspector inspect the home before you commit to making the big purchase. A good inspector will help you to identify problems with plumbing, electrical, the roof, the foundation, and much more. This will help to ensure that you are buying a home that is in good shape. Inspectors vary in price. We paid about $350 for our home inspector when we bought our home. It was worthwhile because it bought us peace of mind.

March 17, 2010

General

Choose A Qualified Home Inspector Before Buying A Home

I watched part of Holmes Inspection on TV the other day and it was about this young woman’s experience in buying her first home. She bought a 20 year-old townhouse and had a home inspector give her the go-ahead to make the purchase. Within a week of taking possession of her new home, she noticed that something in her bathroom was causing water to leak through her kitchen ceiling. She hired a plumber to resolve the issue, but all the plumber did was make a large hole in her kitchen ceiling and then he told her he couldn’t find the leak so he wouldn’t be able to do anything. Nice!

So, when Holmes and his crew came to take a look at the situation, they were able to discover where the leak began. Unfortunately, the more work they did on the house, the more problems they discovered. The home had been recently renovated, so even a home inspector could not have possibly caught every problem since some of the issues were covered up. Nevertheless, the home inspector wasn’t thorough enough and should have seen some red flags that would have indicated possible issues with the home.

When purchasing a home, in order to save money and frustration in the long run, it’s good to make sure you find a credible home inspector. Also, be wary when purchasing an older home with recent renovations as the new laminate flooring or a fresh coat of paint could be covering up some nasty household problems.

Make sure to ask lots of questions about the house and find out as much as you can from the previous owners. Also, don’t be afraid to ask questions of the home inspector. Make sure they check the electrical and plumbing. The key is not to become emotionally attached to the house because if you do, you may end up buying a home against your better judgment.

Buying your first home can be really exciting. Do your due diligence and get a home inspection before committing to a home purchase. Make sure your home inspector is reputable and highly experienced. Buying a home is a huge investment; Make sure it’s a wise investment that you won’t regret.

October 8, 2009