You got your offer accepted, congrats! Now what? If you were lucky enough to get an offer accepted with a home inspection contingency you are in the minority of home buyers on the south shore - nice work! Up next the clock starts ticking and you have to line up an inspection in order to check out the property an ensure there are no major issues that you do't want to take on.
What exactly is an inspection? A lot of buyers get confused by what a home inspection will tell them, and what the inspector will do. Generally it is an overview by a qualified inspector looking at the major mechanicals, roof, windows, fireplaces, plumbing, HVAC, etc. You can get additional tests like radon and mold as well. Inspectors are not going to move furniture or look at pools etc.
Do I have to get a home inspection?
No, they are totally optional and you may decide to waive your inspection in order to get your offer accepted in a multiple offer situation. Nobody is required to get an inspection done but if you have the opportunity to - it is always in your best interest to do one just in case there is something major you didn't see. I find a lot of seasoned buyers, investors, contractors etc. waive inspections because they already know what they are looking at but if you are a first time buyer with limited housing knowledge it is highly recommended you get an inspection.
Who do I hire to do this inspection?
Certified home inspectors are the people to hire, I can always provide a list of people I have worked with who are quality inspectors but the choice is yours who you hire. This is really your timeframe before signing P&S to get people in who you want to look at the property to ensure there are no major issues. Sometimes people have family members who are contractors etc. come and look at the property too to gauge and give a second opinion.
Who pays for your inspection?
In states like California I have had friends who were provided inspection reports from sellers, but here in MA, the buyer pays for their own inspection. This actually makes sense if you think about it because you want to hire someone who is working in your best interest and looking out for you, not the seller. So you as the buyer would pay the 3rd party inspector to come out and do the inspection for you.
Should I be at inspection?
Yes, it is great for a buyer to be at the inspection so you can ask questions and see first hand what the inspector is pointing out. If you can't attend, no problem - I will be there on your behalf and ensure you get a fully detailed write up from the inspector including photos.
How long does it take?
Usually it depends on the home’s size and condition, generally it is two to three hours. I've had them vary, multi families always take longer and condos that are small generally happen more quickly.
What do you see a lot in inspections, what comes up often?
I have been in hundreds of inspections, I would say generally the most common items that come up are, electrical upgrades needed, new roof, old windows, asbestos wrapped pipes (it's New England, it's part of the drill), sometimes there are some under supported beams and attics that don't have proper ventilation or insulation, leaking sinks. There are just a lot of common things that come up, most of which I can point out to you on a walk through before you even put an offer in.
What is an AS- IS sale?
This basically means the seller isn't willing to negotiate on repair items. It is generally used when a home is older and has some repairs needed, they are preemptively saying "Hey, we get our house has some issues, we aren't interested in negotiating about it." which is fair. Many times there isn't anything major wrong it's just that the seller doesn't feel like going back and forth on small stuff. Just because something is listed AS-IS doesn't mean it has a major issue.
Reach out any time with questions! I am here to be a resource for you.
