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Should You Skip the Home Inspection for a Better Deal?

Written by Posted On Monday, 22 June 2015 18:28

 

 

 

If you want to know how much your house will sell for in South Florida, Broward County go to Home Value or call Irene Medina.Realtor at 954-439-4851. 

When real estate markets are moving quickly, sellers sometimes become uncompromising. Why make concessions if your home is leading the neighborhood’s Ms. Popularity contest? This may lead buyers, caught in the frenzy of a bidding war, to become reckless, yielding one of the most important aspects of the purchase process: the home inspection.

 

What an Inspection Won’t Do

Let’s face it: We don’t buy homes frequently, so the process can be a bit confusing. The home inspection is one of the most commonly misunderstood processes in the real estate transaction.

Just as a home appraisal won’t tell you that the heater is about to go kaput, a home inspection won’t tell you what the home is worth. These are two different processes, initiated by two different parties. The appraisal is bank-ordered. The lender uses the appraisal to ensure that the home is worth what you’ve promised to pay for it.

While a large home inspector training institute likes to claim that the inspection is “all-encompassing,” it is far from that. That’s not to diminish the value of the process – it is extremely important. But it can’t tell you, for instance, what might be growing or breeding behind the walls or if there is a dangerous radon level in the home.

The home inspection is also not a guarantee that the home will be in the same condition when you take possession as it was when the inspection was performed.

The typical investigation by a home inspector is a visual one. He or she will look at the home’s roof, structure and major systems, such as plumbing, electrical, HVAC and ventilation. If an inspector can’t see an area for whatever reason – access is blocked by the owner’s belongings or it’s locked – she can’t investigate it and therefore won’t include it in the report.

 

What a Home Inspection Provides

Since a home is such a huge investment, it only makes sense to be concerned about its condition. A home inspection may just save you thousands of dollars. More than anything else, a home inspection by a licensed professional provides peace of mind.

The inspector will run the heating and cooling system and investigate the water heater. While in most cases an inspector doesn’t have access to the heat exchanger in the furnace, he can tell you the condition of the filter. He has no way of knowing the condition of the wiring behind the walls, but he can test the system for shorts.

The best home inspectors will recommend further inspection by an appropriate contractor. For instance, if he feels there may be a structural problem, he may recommend that you contact an engineer. If he notices evidence of wood-destroying pests, he may recommend that you have the home looked at by a pest inspector.

 

Should You Waive the Inspection Contingency?

In a multiple-offer situation, a buyer who waives the inspection contingency is most likely going to prevail. What seller wouldn’t relish the thought of a quicker close and fewer headaches, not to mention saving a ton of money if something happens to be wrong with the house?

But, by the same token, cash-strapped buyers need to know if the house they are about to buy has bad wiring, a leaky roof, a heating system on its last legs or anything else that may cost thousands of dollars to repair.

Buying a home without having it professionally inspected is the same as buying it as-is. If you’ve ever purchased a used car from a private party, you understand that you may be buying someone else’s headaches. Even knowing that, the feeling that you may end up on the side of the road with a broken-down car is hard to shake.

Transfer that feeling to what will probably be the largest investment you make in your lifetime, and it’s easy to understand why the home inspection has become a routine and vital part of the home-purchase process.

 

Make it Easy on the Inspector

As a buyer, you have no control over whether or not the seller will clear access to the areas of the home that the inspector needs to see. Ask your agent to add an addendum to the purchase agreement requesting that the seller provide the following:

Clear access to the attic – Inspectors are not allowed to touch or move personal items. If she can’t get to the attic access without moving things out of the way, the attic won’t be inspected.

An empty dishwasher – Home inspectors run through each cycle but will not do so unless the appliance is empty.

Access to the electric panel – Ask the seller to move boxes or anything else that may be blocking the electric panel.

Clear access to the furnace and water heater.

Plumbing – The water service should be left on. If it is turned off at the main, the inspector will need written permission to turn it on.

A home inspector can’t possibly tell you everything that might be wrong with the home you’re about to purchase, but you will be reassured that the major systems are in good working order. And that peace-of-mind is something you should never compromise on.

 

Irene Medina and The Medina Real Estate Group have vast experience in marketing of properties extensively worldwide via the internet. They sell their listings in record time and for top dollar and sometimes for above market and appraised value. You can read their reviews at Recommentations.

For Your FREE Home Value go to: Home Value

If you need to Short Sale your home, please go to www.FlShortSaleServices.com for information on short sales and to calculate if you have Equity in your home now or still need to short sale. We have a proven track record of approved short sales and deficiency waivers.

If you are a buyer looking to buy a home, we pride ourselves in making sure we listen to what your dream home consists of. It is all about you and your future home. We put you first! To search the MLS go to www.TheMedinaRealEstateGroup.com.

 

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Irene Medina / Realtor
This email address is being protected from spambots. You need JavaScript enabled to view it. / 954-439-4851

The Medina Real Estate Group
www.TheMedinaRealEstateGroup.com

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Irene Medina, PA

Standing by YOU Every Step of the Way!"

My core values are to educate others, have fun every day, respect the environment, and treat customers like family.

My passion for EDUCATION and SUSTAINABLE LIVING are what make me stand out from the rest. I am a mentor and coach to other Realtors, a trusted real estate advisor to my customers, and I hold the National Association of Realtors Green Designation which qualifies me to educate and advise others on sustainable living issues. My relationships with green vendors and my expert knowledge on sustainable living issues enable me to help my customers achieve their green goals.

I have fifteen years of experience working as a Realtor in South Florida. I have guided my customers through rising and falling markets and I have sold all sorts of homes, from large estate homes to beachfront condominiums.

I am the founder and leader of The Medina Real Estate Group, a team of real estate agents who value honesty and transparency and have a passion for education and sustainable living. My team's primary goal is to exceed customer expectations every time by putting customers first, listening to their needs, and keeping them well-informed from contract to closing.

My team works hard, but we also have fun and we want our customers and the Realtors we mentor to have fun as well. We implement superior negotiation skills and leverage technology to guarantee that our customers will buy or sell their home quickly and for the best possible price. We are by our customers' side every step of the way, from contract to closing, and we treat our customers like family to make their transactions easy and stress-free.

Our passion for education and for the environment ensure that our customers are well-informed and receive the expert advice needed to help them achieve their sustainable living goals.

Remember that I am committed to "Standing by YOU Every Step of the Way!”

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