by: Tanner Konrady and Rob Warwick (Realtor with Seacoast Realty)
Is it worth the money? That is the most dreaded question when asking about the price of a home inspection in a real estate purchase. More times than not we, as realtors and home building professionals, get asked this question. It is not for our benefit that we suggest or require a home inspection. Real Estate agents and builders, alike, want the future homeowner to be fully aware and know what the buyer is purchasing.
The point of the home inspection is to check on structural, plumbing, electrical, roof, and other issues that are in the home. It is for the buyer’s best interest to hire a home inspector. You must be able to make an informed decision on the purchase, it’s a huge investment and for most it’s their most valuable asset. The inspector will inspect the home and within the report make recommendations or comments on the life expectancy or repairs needed. Many times they will reference to have a general contractor or professional verify and quote the issues they find. They will not give out numbers on the repair items due to differences in licensing and expertise between inspectors and general contractors. They are there to simply find and state the facts, along with condition of the home.
Once the inspector has finalized the report, he will send it to the buyer and the buyers agent. With this information you have a few options, even after you are under contract. The three options you have are to purchase the home as is, ask for repairs or ask for credit. The first option happens very rarely, unless the home is well taken care of and/or the repairs are very minimal. Asking for the seller to do some of the repairs is always an option. Once the seller has done the negotiated repairs, I would always suggest a re inspection on those items. The last option of credit is usually the best and most common in a home purchase. The reason being, the sellers repairs might not live up to the buyers standards and the buyer can use the money for closing cost or repairs. What I always suggest is option three, we can have our contractor perform the work and still charge the seller for the repairs. Another benefit of having the seller pay for the repairs is the work will get done, due to paying the contractor at closing and we control his schedule. If you take closing cost the repairs will likely not get done!
Always use a knowledgeable Real Estate agent who works the market and has a great home inspector. This will be important once your ready to purchase a home!