What is an inspection?
Inspection is an evaluation of housing in aspects that often go unnoticed in the eyes of an ordinary person.
For example, an inspector will evaluate from the installation of electricity, to the pipes, roof conditions and walls, both interior and exterior. Once made, a report is given to the buyers about the conditions of the house. The report includes photographs with findings and recommendations from the expert.
If you want to do it, it is important that you hire a professional qualified for it. Most states are certified and licensed, so make sure you have the professional credentials required by the city where you are buying the home.
Although as a buyer you have the right to make an inspection, only if you have included it in the contract, you can use those results to cancel the purchase and obtain a refund of your deposit, if you have given one at the time of making the offer. But beware, for that you must establish it at the time of signing the contract.
If that is your wish, make sure there is a clause stating that the purchase is subject to inspection, or that as a buyer you will be entitled to an inspection once the offer is accepted and that if you are not satisfied with the results, you can cancel without penalty. So you avoid buying a house that requires major repairs in which you will have to invest, or that is not safe to live.
What is the inspection report?
According to the American Society of Home Inspectors, the inspector’s report will cover the standard housing condition of the heating system; Central air conditioning system (temperature permissible); System of internal sanitary installations and electrical system; The exterior roof, attic and visible insulation; Walls, interior ceilings, floors, windows and doors; The foundation, the basement and the structural components.
The property to be inspected must have water and electricity. That way the necessary tests will be done and it will be determined which areas need fixing. Although it is not a requirement that you are present at the inspection, it is advisable.
It is usual that you receive the inspection report in just a couple of days after the inspection. It is usually emailed, but you may require a paper copy. It is important that you clarify any doubts that you have about the report and that, if necessary, look for more information.
The inspector will indicate the damages that the property has, but will not give you quotes for the necessary improvements. That is, it will tell you if the air conditioner is damaged, but not how much it costs a new one accurately. Also, it will check the ceiling and tell you if you need repairs or need to change, but to know how much it will cost you should consult an expert that field.
To be taken into account
Once you have the results of the inspection, evaluate the expenses that you will have to make if you buy. Do not forget that in the current market the price of houses has dropped considerably, and one of the reasons for this is because many have been vandalized or need improvement.
If you recommend buying new carpet or put the floor, cabinets in the kitchen or buy new equipment for the bathroom but you are buying a house at a very attractive price, add to the selling price expenses. In many cases you will see that the purchase is worth it.
If necessary improvements are costly and added to the selling price buying out of your budget or not seems a good deal, ask the seller to pay for them. It could be that he is willing to negotiate, pay for improvements or lower the price. Otherwise cancel the purchase if necessary, always protecting you in case the contract states that there is no penalty and you had right of inspection.