What Happens After The Home Inspection Is Over?
When buying a home, it goes without question to hire a home inspector, right? But, after the inspection is over, what should you expect? Hint: This may also determine the quality and integrity of the home inspector you hired.
Before you hire a home inspector, be prepared with knowing what to expect after it’s all over.
A top-quality home inspector should offer to do a walk-through of the home after the inspection is over, with your presence. This allows you to understand any big problems the inspector may want to point out and/or an overview of the whole inspection.
Thoroughly Review Your Report
After your walk-through, you have a few days to thoroughly review your inspection report. Your report will hold crucial information concerning the structural components, foundation, roof, plumbing system, electrical system, and mechanical systems. Your home inspection report should also contain a list of repairs and potential health and safety issues however, not all are critical.
They must all be documented under the home inspector’s standards of practice. Items like fried light bulbs and dead batteries in smoke detectors are required to call out but are not critical. Use common sense and your best judgment when reviewing the list of repairs in your home inspection report.
Review Your Report With Your Real Estate Agent
Reviewing your report with your agent is also a key step to your home purchase. If you seek to have repairs done, they will write a repair addendum and submit it to the sellers’ agent for review. Make sure to request reasonable repairs, making safety and health concern repairs a top priority.
The seller can make the repairs requested, they can also negotiate the requests or even refuse to make the repairs. This is not super common however, sellers are within their right to do so. If this happens, buyers can exit the purchase contract and get refunded their earnest deposit.
Time For Appraisal
The next step, as long as you’re satisfied with the negotiations, it’s time to get your appraisal. This step is totally different from the home inspection. The appraiser is actually ordered by your lender and depending on your credit and loan type, it will allow your lender to determine the current market value of the home you wish to purchase. As long as your home appraises you’ll then be on your way to sweet victory, closing day!
Did I Hear Closing Day?
Prepare yourself for closing day and the following days and weeks to come after purchasing a new home.
Prepare for homeowners insurance – If you already carry insurance on your vehicles, get a quote from them, but also prepare yourself with additional quotes. Have this ready before closing day.
How will you move in? Do you have a lot of stuff? How will you haul it? Be prepared with moving companies, switching your bills over (water/sewer, power, gas, internet, etc), or taking time off work if needed for your move.
The process leading up to homeownership can be fun and rewarding when you’re prepared. When it comes to your new home, you only want the best. Rogue Inspection Services is dedicated to exceeding your expectations. We provide industry-leading inspections so that you can make an informed buying decision. Check us out today!