Hire A Real Estate Inspector
What is a real estate inspector? Well a real estate inspector is a professional who will examine the property and make a report about its condition. It will include the structural soundness, compliance with local housing codes as well as the condition and age of working systems. The inspector can also be asked to assess the presence of pests such as termites, and environmental hazards such as asbestos or radon. Sellers sometimes also hires inspectors before they put their homes up for sale. Many states also require sellers to disclose problems with their homes upfront or they will face legal action later. It is a really good idea to ask the sellers if they have filled out a disclosure statement or if they have an inspection report for you to read as well.
Ask your friends and real estate agent for recommendations of a good real estate inspector. You might want to hire an architect, a contractor or an engineer who is bonded, licensed and insured. And who also belongs to a home-inspection trade organization. Some of the inspectors will offer an estimated cost for the replacing or repairing of the defects in the home so be sure to ask if these estimates are included in the fee. Also ask how the inspector will present the results to you. It is usual to have a face-to-face meeting plus a written report of the findings. An inspection contingency in your purchase offer may require the seller to make repairs within a certain amount of time. Or allow you to cancel the deal if an inspector finds problems. The two parties will often collect estimates for repairs and work out concessions, such as cash credits.
When all the terms and conditions of the purchase agreement have been met then you can proceed with the details of the closing. You may also a final walk-through inspection just before closing the deal to make sure all the repairs have been made and that the house is in the same condition as before the negotiations began.
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