What to Expect from a Home Inspection
A home inspection is a requirement of real estate transactions. Professional home inspectors examine properties and identify problems a potential buyer should consider. It is possible to visit a home inspection if you are a prospective buyer. In either case, you'll receive a report of the inspection's findings.
It can be devastating to buy a home in Albuquerque only to find that it has structural problems that aren't fixable or are extremely expensive to fix after you buy the home. An inspection can help you avoid that potential disaster. Before buying a home, make sure the property has been inspected. Any major problem you discover can be discussed with the seller.
Although the two are sometimes confused, an inspection is not the same as an appraisal. An appraisal estimates the value of your property. Appraisals do not identify specific problems, but mortgage companies normally require them. Inspections are not required, but they are important.
Buyers and sellers must also conduct inspections. An inspection by a buyer occurs after you've made an offer, but before closing. Depending on what you find, you might need to renegotiate. A seller's inspection occurs before a home is listed for sale. Sellers might choose to do this to ensure their home is in a good condition before putting it on the market.
What Do Inspectors Look For?
Home inspections cannot cover everything, and there are certain parts of a house that may require an additional inspection.
A home inspection involves assessing the mechanical systems and structural integrity of a home. Windows, doors, ceilings, and walls are all assessed. Inspectors take a close look at major appliances, check the heating and air system, and examine the plumbing and electrical systems. Inspections aren't there to determine if you're getting a good deal.
Inspectors aren't interested in cosmetic issues unless they are also safety concerns.
The Report
You may see that an inspector completes a report using a checklist, or they may include paragraphs outlining problems. Any inspection is likely to uncover some issues unless the house is brand new.
How Does an Inspection Affect the Sale of a Home?
Buyers and sellers may renegotiate or end a potential deal if an inspection reveals potential issues.
In the event that a potential buyer walks away due to the inspection, you will have to put your home back on the market. An under contract or pending home that returns to the MLS can be a red flag for some buyers.
Potential buyers might demand that the seller make necessary repairs as part of renegotiation. The seller may also issue a credit so the buyer can make the repairs by themselves.
Before agreeing to anything, a seller may hire their own experts to determine what the inspector found. Inspectors can make mistakes.
Hiring an Inspector
You should hire a good inspector when buying a home in Albuquerque. Choose an inspector who is certified by an organization such as the American Society of Home Inspectors or the International Association of Certified Home Inspectors. To become a member of these organizations, you must pass exams, complete continuing education, and follow an ethics code.
Also, you might consider interviewing an inspector, who can share more information about their experiences. There are inspectors with specific expertise. A historic home inspector, for example, may be more appropriate for a home in an area such as Albuquerque.
Also, you can ask for references from past clients.
Last but not least, expect to pay anywhere from $300 to upwards of $500 for an inspection. This is typically paid upon completion of the service, and is not included in your closing costs.
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If you plan to buy or sell a home in Albuquerque, the home inspection is a crucial part of the process. A good home inspection will assess the condition of the home, letting you know what problems need to be addressed before the home is sold, and what potential issues may arise later on down the road.
