Saturday, 5 November 2011

Home Inspections – Indispensable Key to Successful Real Estate Deals

Due to the unfortunately redundant reports of fraudulent real estate transactions, a noticeably large population of home buyers has lost faith in purchasing properties. As a result of the scarcity of buyers, most home sellers have been enforced to settle on purchase offers way below than what they have projected their profits should be. In order to free both real estate participants from apprehensions and disadvantageous outcome, a home inspection can put back the healthy status of buying and selling real estate properties.

Asking for a home inspection may sometimes be a daunting task for some home buyers. In some cases, home buyers are embarrassed to ask the homeowner to have an inspection because of the fear they might offend the seller. First of all, it is your right to be informed of the real status of the property you are venturing into. Conducting due diligence is paramount to being assured that the new place is sound investment. This is not at all about you discounting the abilities of the homeowner in taking care of his property. In addition, it is also one way to prepare you of future expenses. The inspection report is most likely to contain details about aspects of the home that needs repairs, whether minimal or major. In case you really adore the property and still purchase the property despite its damages, you can then outline which areas require immediate attention.

Inspection reports are beneficial for the home seller as well. This essential procedure can be included in the property details. This is your initial assurance to the buyer that your property is of excellent status, which can enable immediate moving in. Take this simple step as an additional marketing strategy to easily sell your home. You could even be freed from dealing with irate and meticulous buyers who would go through every little detail of your home. On the other hand, if you have not done the inspection yet and the buyer requests to have one, be willing to accommodate such appeal. However, prior to the inspection, clarify of your limits as to what your obligations are. For example, you can both negotiate on who will shoulder the inspection fees or decide whether you will split it. You can also set your boundaries about repairs or replacements you could pay for.

For both parties, it is important that the evaluation process is accompanied by a professional inspector. To get services from a licensed inspector is just as indispensable. Remember to ask for certifications and portfolio of past inspection jobs. Also, note that in some cases, two to three inspections have to be implemented. The need to individualize evaluation for different aspects of the property may arise. During the checking, your presence is vital as well. Although he may have the expertise, your scrutiny has another level of cautiousness. Your direct involvement with the property makes you more aware of what things are out of place or otherwise. Here are some areas that necessitate primary attention:

  1. Flooring and roofing – look out for creaks and uneven elevation
  2. Sewer and drainage system – check out the accommodation level
  3. Water supply – test out the water source and sanitation level
  4. Wiring and plumbing – examine electrical boxes, pipework and connections
  5. Walls, ceiling and insulation – analyze the quality of the materials

Home inspection indirectly has the aim to once again assure the buyers they are investing into sound investments and the sellers can have better buyer offers. Once the process is underway, either as the buyer or seller, do not cheat your way into formulating imaginary repairs just to get your desired price. When the truth is out in the open, things will backfire. Your home may stay stagnant in the market for the longest time or you would not own a home at all.

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