Home Inspections: Don't Buy a Home Without One!
Many people are confused about the purpose of a home inspection.
People often view an inspection report as a mandatory repair list for
the seller.
The fact is, sellers are not required to
produce a flawless house. They have no such obligations by law or by
contract.
With a home inspection, most repairs are
subject to negotiations between the parties to a sale.
Typically, buyers will request that
various conditions be repaired before the close of escrow, and sellers
will usually acquiesce to some of these demands.
But with most building defects, sellers
make repairs as a matter of choice, not obligation: to foster good will
or to facilitate closing the deal.
Sellers maintain the right to refuse
repair demands, except where requirements are set forth by stat law,
local ordinance, or the real estate purchase contract.
Legal obligations include things like
smoke detectors in specified locations. Contracts usually stipulate that
fixtures be in working condition at the close of escrow, that windows
not be broken, and that there be no existing leaks in the roof or
plumbing.
Before making demands on the seller,
evaluate the inspection report for the big problems. Look for conditions
that compromise health or safety or involve actual leakage. Most sellers
will fix problems affecting sensitive areas such as the roof, fireplace,
gas fixtures or electrical wiring.
If the house is not brand new, it is
unreasonable to insist upon correction of all defects. You risk
alienating the seller and blowing the sale.
The purpose of a home inspection is to
know what you are buying before you buy it. If you can't re-negotiate
the contract to your satisfaction, you can disapprove the home
inspection and cancel the sale without penalty.
As always, having a knowledgeable, local
agent representing you is the best security.
P.S. If you have made it this far, I have a tip about home
inspections. After you have a home inspected, you can renegotiate the
deal. In a buyer's market, which we are entering, this is an invaluable
asset to have. |
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