An increase in sales means that the property inspection industry is also growing. The inspection takes place after the seller accepts an offer from the buyer.
It is one of the most important milestones in the buying process. The buyer can walk away from an offer if they are not satisfied with the results of the inspection.
Therefore, going into this process you should learn what you should and should not ask for after an inspection. Explore topics like a home inspection checklist and the most important repairs.
What to Ask for After a Home Inspection?
Not all identified issues are equal. The vast majority of existing homes have normal wear and tear.
The key for buyers is to identify showstoppers. These are major issues that need repair before a sale can proceed.
Structural issues most certainly fall in this category. No buyer should move forward on a house with foundational issues.
Consider that the home’s main support beam has dry rot due to water damage or termites. To purchase this home, you should require it to be fixed and follow up with an engineering analysis to ensure it is done correctly.
Now, let’s review a home inspection checklist to see what other major issues need repair. The presence of termites or any wood-consuming insect needs addressing. Also, any evidence of wild animals is a major concern.
Any structural issues with the home including the foundation and roof are serious. Evidence of water damage or plumbing defects needs repair.
Mold, lead paint, and high levels of radon are on the home inspection checklist. Electrical issues that pose a legitimate safety concern also warrant repair.
What to Avoid Asking For?
Most of the issues we described above pose an overall safety risk or could escalate to costly repairs. Minor issues that fall outside this category do not need to be repaired before a home transaction.
In general, anything under $100 can be overlooked. You should also avoid asking to repair standard wear and tear.
This includes minor wall defects, loose railings, and small cracks in the basement. Failed light switches or electrical sockets are a relatively minor issue. You should not stress out about cosmetic or paint issues.
Many complain if windows or storm doors are foggy. However, you can resolve this issue with a bead of caulk or cheap weatherproofing materials.
Besides the roof and water draining system, most exterior issues can be addressed later. This includes observable issues with landscaping or a shed.
A Recap of Important Issues During a Home Inspection
The real estate market is highly competitive right now. Inventory is low and many buyers are putting in offers higher than the asking price.
In a seller’s market, you need to be careful with repair requests. It is imperative to request repairs only on major items. Otherwise, you run the risk of losing the house altogether.
If you want advice on the home inspection process, contact us today for expert real estate advice.