Home inspections are one of the most important steps in ANY real estate transaction. A home inspection will not only educate you as the buyer about your new house, it will also uncover any problems with the home for which you may receive compensation to correct!
Home inspections in the Southern Ocean Real Estate Market will typically cover items such as:
A home inspection takes place when a buyer hires an licensed home inspection company to inspect a property. The home inspector, who must undergo training and become licensed, will go though the house piece by piece to look for any unknown problems and at the same time educate you about the property you are looking to buy.
During the home inspection the inspector will explain how each system works and what problems, if any, exist.
There are a few options available to a buyer if problems are found with the house.
There is a provision in each and every real estate contract that grants the buyer to right to a home inspection and the right to cancel the contract if problems are uncovered and an agreement cannot be reached by the buyer and the seller. This is designed to protect the buyer from buying a house that has major issues.
The buyer can request the seller either credit an agreed amount of money to fix the problems after closing. In this case, a contractor or repair will come to the house, assess the problems and give a written estimate. The estimate is then given to the seller and either all or part of the repair bill will be credited to the buyer
The buyer can request that the seller fix the items prior to closing. If the seller agrees to fix the problems, it is advisable to have the inspector come back to the house prior to closing and re-inspect those items to make sure they were fixed correctly.
In all cases, a home inspection is well worth the investment. The cost of a Home Inspection in the Southern Ocean Real Estate Market is usually about $300-$400 for a single family home. You can also have a separate pest inspection (for termites, etc) which is usually about $100-$150.