Home Inspections - What To Expect

April 21, 2014 at 2:04 PM

Unless inspections are waived, buyers are entitled to have the subject property inspected by a licensed home inspector, usually within 7-10 calendar days of the conclusion of attorney review.

The home inspector is specifically looking at the structure and maintenance of the home, and will focus his or her attention on four major items:
 
-structural
-mechanical
 
- environmental
 
- safety
 
It is customary -- and advisable -- that the buyer(s) accompany the home inspector on his/her inspection of the home so that:
 

A) they can find out how systems in the home operate and any regular maintenance recommended.
 
and
 
B) they receive first hand information on anything that is not functioning correctly or items that require replacement or remediation.
 
Generally the initial home inspection, and the home inspector's recommendations, form the basis for any other recommended inspections such as, but not limited to, mold, asbestos, lead, in-ground oil tanks, chimney, in-ground pool, radon, electrical, plumbing, etc.
 
Defects are listed in a letter from the buyer's attorney to the seller's attorney, and negotiations ensue to either leave "as is" (especially for items of a cosmetic nature), remediate, or provide a credit at closing (the latter choice is less popular / possible now that mortgage rules are so much more stringent than they were.)  Often the real estate agents for the buyer and seller will get involved in negotiations or organize further inspections/estimates in order to facilitate a swifter conclusion.
 
Even if a home is listed "as is", generally a buyer reserves the right to complete a full inspection to determine the cost of repairs etc. and, while sellers listing an "as is" home will not negotiate per se, buyers still have the option of raising issues that are determined to be "deal breakers."  Much depends of course on whether or not the seller received multiple bids (this results in less leverage for the buyer) and the motivation of both parties to get to the closing table.
 
 

If you are a seller, buyer or investor seeking expert, professional guidance for all your residential real estate needs, then Lucy Thompson invites you to contact her without delay.  She offers all her clients a sophisticated service for selling and/or buying and she will help you achieve your real estate goals!

Your real estate dreams and needs are all about you and she will listen so that you receive the very best advice and options!  You owe it to yourself to hire the best agent and Lucy will prove, through hard work, energy, enthusiasm, motivation, comprehensive information and results that you will benefit from making the right decision in hiring her.   You can reach her at lucy@lucythompsonhomes.com.

The opinions expressed herein are the writer's alone, and do not reflect the opinions of TAPinto.net or anyone who works for TAPinto.net. TAPinto.net is not responsible for the accuracy of any of the information supplied by the writer.

TAP Into Another Town's News:

TAP Into Another Town's News:

Sign Up for E-News

Summit

Summit Police Blotter

December 5, 2016

11/15 - At 0905 hours a report was taken for a theft from a business. The incident occurred between 11/4 at 1500 hours and 11/9 at 0830 hours at a business on Beauvoir Avenue. The victim reported that two HP Chromebooks were taken; valued at approximately $500.00 each.

11/17 - Sandra M. Cruz-Huertas, 33, of Bound Brook was arrested and charged with theft by deception. Ms. Cruz-Huertas was ...

Video: Point View's Dietze Says Market 'Has Gotten Ahead of Itself'

December 8, 2016

Point View Wealth Management Founder, President, and Chief Investment Strategist, David Dietze, spoke live on BNN on investment strategies following recent record highs in the stock market:

bnn.ca

Point View Wealth Management, Inc. works with families in Summit and beyond, providing customized portfolio management services and comprehensive financial planning, to ...

Frosty Fun Holiday Camp at The Connection

The Connection is holding a Frosty Fun Holiday Camp this winter break for children ages 4 and up. The camp runs Tuesday, December 27 - Friday, December 30.  There are morning (9am-1pm) and afternoon (1pm-5pm) times as well as an all day (9am-5pm) option with early drop off and extended pick up times available.

Children will have fun with friends and reunite with their favorite summer camp ...

Beckerman’s Theory of Everything

Any armchair theoretical physicist knows that Stephen Hawking has pursued a lifelong quest to come up with a Theory of Everything. This all-encompassing theory would tie together general relativity (large scale and high mass galaxies, stars, etc), quantum theory (quantum mechanics, quarks, atoms, subatomic particles), and Newtonian physics (gravity on small bodies, gas laws, electromagnetism) to ...

To Be a Better Investor, Be More Rational!

Many posit the theory of rational man, who coolly and carefully calculates his self-interest in a logical manner. We all fall somewhat short of that ideal.  In the financial markets, irrationality can be costly. What are some of the common foibles, and what can we do to minimize their damage to our portfolios?

Don’t Make Decisions Based on What You Paid For an Investment

How ...

Ain't That Grand?

Meeting Specials at The Hilltop City's 'Town Hall' Heat Up as Weather Turns Cold

The Grand Summit Hotel in prestigious Summit has hosted meetings -- steps from the vibrant, yet quaint, downtown -- for more than 100 years -- our staff taking tremendous pride in carrying on a tradition that has been in place for decades.

At a time when many of the nation’s hotels have taken on a similar look and feel, The Grand Summit Hotel’s corporate clientele enjoys the ...

What's in a Name?

Sign here:   ________________________________

 

And here and here and here.  Initial these five boxes.  Then sign right here and over here stating that you understand that you are signing something you haven’t read.  And on the last page please sign and date this disclaimer stating that you are fully responsible for signing and dating this document even if you ...