Have you ever seen something online, thought the product looked amazing, clicked on the purchase button, to find out when it arrives, it is nothing like you thought? You then realize there is a “NO RETURN POLICY” and the buyers remorse sets in. Your money at this point is gone. This can be the same when you purchase a home. The online pictures are beautiful, the seller disclosures are perfect, the walk through looked amazing, and the decision to write the offer begins.
As part of this offer, the decision will be made whether to have the home inspected. This is a huge decision for both first time buyers and final home buyers. The home is usually the largest financial investment one will make in their life. As a real estate professional, I encourage all my clients to get the home professionally inspected to secure this investment. The inspection seems like common sense, but it is not.
Some buyers have friends and family that have purchased homes and are “AMAETUR INSPECTORS” or contractors. They claim to be able to review the home and help make a good decision based on their own experiences. The problem here is they are not professionals. If something is missed and found later, who do you go to? Do you go to family and friends and say “THIS IS YOUR RESPONSIBILITY” …. Ahhh that will not be good for family and friend get togethers later.
Other reasons people choose to not get the home inspected is the cost. A typical home inspection ranges between $300 to $600 (more if the home is larger, has a well and septic, pool, or other specialty amenity that needs to be inspected). To the potential buyer they saved money on the purchase of a home that can be used for closing. The problem arises when they move into the home and the first night, no heat, or no air conditioning. This problem could cost the new owner thousands of dollars to fix. An inspector would check these items and then report back and allow for the buyer to back out of the deal or have their Realtor negotiate credit or lower purchase price.
By using a professional and well-respected home inspection company (make sure they are reputable), you will have someone looking out for your best interests. The inspector does not care if the deal goes forward or falls apart, they are about the condition of the home and everything inside and outside. These home inspection professionals will look at all the mechanical systems (heat, air, electrical, and plumbing), the foundation, the roof, the attic, the crawl spaces, windows, the siding or brick, sidewalks, patios, porches, driveway, and much more. They even look for things like mold.
Once the inspector is done looking at the home, they will walk the potential buyer and their Realtor through the home and point out things good and bad. They will then write up a report on each area of the home. This digital report (or paper, which is rare), will be reviewed by the potential buyer and their Realtor to see if there is anything that should be addressed and whether to move on with the deal or walk away. This is the point where a Realtor can negotiate credits or reduction of purchase price as well.
Homes that have been lived in will have wear and tear. You can negotiate for just about anything from the inspection, but the focus is more on the high-priced items, the mechanicals, the roof, and foundation. Your Realtor should be able to guide you as to what they feel would be good to negotiate with after the inspection. Realtors have been through these deals many times and based on what is in the reports, will suggest what they can do in terms of negotiation. You will at times need to get quotes as a back up to requesting credits or reduction of purchase price. If quotes are needed, make sure your “INSPECTION PERIOD” is not close to expiring. If you need to, have Realtor extend your inspection period for enough time to get all the quotes needed.
In the end, an inspector is your eyes into the home. They have the tools and the experience to let you know the quality of the home in which you are wanting to buy. Even new construction homes should be inspected. A home has many moving pieces and hidden places. You want to make sure everything is as you expect it, to enjoy the excitement of the home you are purchasing.
Ask your Realtor for home inspector referrals. They have people they see on a regular basis who are good and know who not to use. This is a good start, along with the internet to find the right company to work with.
GET YOUR HOME INSPECTED!!! A Few hundred dollars is always better than a few thousand in repairs later!!!
If you have any questions about real estate or would like to buy or sell a home, Investment property, or commercial property in Michigan, please e-mail us at email@example.com or call 248-294-7850.
Scott Fader and Gary Brincat
Mitten Realty Group, LLC
Mitten Realty Group is a veteran owned company located in Michigan. Scott Fader and Gary Brincat are two of Michigan’s multi-million-dollar top producers. They have been working in real estate as brokers, Realtors, investors, property managers and real estate company owners for over 20 years. Together they would like to share their experiences, knowledge, success and failures to help buyers, sellers, Realtors, brokers and anyone else in the real estate and business, so that together we can grow as a community.