All homebuyers are prone to overlook major problems during the buying process only to be surprised by them once they have already paid for the property. You can consider hiring a professional home inspector even before signing any contract to avoid any regrets and stress after buying a property.
However, you aren't required to conduct an official home inspection until after signing the initial contract, so it's a good idea to learn as much as possible about the condition of the home by having an honest discussion with the seller, and even performing your own 'mini' inspection where you can check for basic structural defects or potential problems.
Most sellers will be open to having you inspect the home well before signing any type of contract, and this gives you some leverage when you are negotiating the final price. Barron's 'Smart Consumer's Guide to Home Buying' encourages all prospective homebuyers to prepare a checklist and note any problems and areas of concern as early as possible. The authors of the book explain that, "If you are thinking about buying a house that will need renovation or upgrading, the more value will be derived from your mini-inspection."
Create a checklist that you will use in your home inspection. This will help you in taking notes of the general condition and appearance of the house. Below are important issues to include in your notes:
The age of the house - You should know exactly when the house was built. Find out if there are any renovations or upgrades done and when these took place. Ask if blueprints, architect or engineer plans are available.
Check the foundation for potential problems - are there any large cracks or noticeable water problems around the home or in the basement? Ask about flooding issues and weather-related problems that have taken their toll on the home in different seasons.
Inspect the house's interior for flaws - Walls should be even and free of cracks. Check if you can manipulate the doors with ease. All water entry areas should function properly and keep an eye out for mold and mildew infestations. Take a note of noticeable cracks and corrosions. You might also want to take a snapshot of problems that really stand out.
Check the exterior for defects and potential problems - do all of the windows and doors have adequate insulation? Do they open and close fluidly? Make sure all of the siding, windows and doors are free of cracks and any noticeable wear and tear.
Examine the heating and air conditioning system - Query the seller about the average cost of operating these systems in a month. You may need to have a new system in place if the old air conditioning system is already inefficient.
Look at all your notes and create a written report about the condition of the house you just inspected. You may also consider using a digital camera or camcorder to take pictures and videos for a more detailed review in the future. This additional effort may give you an advantage over the seller come negotiation time.
However, you aren't required to conduct an official home inspection until after signing the initial contract, so it's a good idea to learn as much as possible about the condition of the home by having an honest discussion with the seller, and even performing your own 'mini' inspection where you can check for basic structural defects or potential problems.
Most sellers will be open to having you inspect the home well before signing any type of contract, and this gives you some leverage when you are negotiating the final price. Barron's 'Smart Consumer's Guide to Home Buying' encourages all prospective homebuyers to prepare a checklist and note any problems and areas of concern as early as possible. The authors of the book explain that, "If you are thinking about buying a house that will need renovation or upgrading, the more value will be derived from your mini-inspection."
Create a checklist that you will use in your home inspection. This will help you in taking notes of the general condition and appearance of the house. Below are important issues to include in your notes:
The age of the house - You should know exactly when the house was built. Find out if there are any renovations or upgrades done and when these took place. Ask if blueprints, architect or engineer plans are available.
Check the foundation for potential problems - are there any large cracks or noticeable water problems around the home or in the basement? Ask about flooding issues and weather-related problems that have taken their toll on the home in different seasons.
Inspect the house's interior for flaws - Walls should be even and free of cracks. Check if you can manipulate the doors with ease. All water entry areas should function properly and keep an eye out for mold and mildew infestations. Take a note of noticeable cracks and corrosions. You might also want to take a snapshot of problems that really stand out.
Check the exterior for defects and potential problems - do all of the windows and doors have adequate insulation? Do they open and close fluidly? Make sure all of the siding, windows and doors are free of cracks and any noticeable wear and tear.
Examine the heating and air conditioning system - Query the seller about the average cost of operating these systems in a month. You may need to have a new system in place if the old air conditioning system is already inefficient.
Look at all your notes and create a written report about the condition of the house you just inspected. You may also consider using a digital camera or camcorder to take pictures and videos for a more detailed review in the future. This additional effort may give you an advantage over the seller come negotiation time.
About the Author:
Alexandria P. Anderson is a licensed Minnesota Realtor that offers homes for sale in Eden Prairie to people who want to purchase Eden Prairie realty and other properties in the Twin Cities of Minneapolis and St. Paul, MN.
No comments:
Post a Comment