Why Are Home Inspections Important?
Why are quigley home inspections Important? They are an integral part of due diligence, and they are often a bargaining chip in the real estate market. They offer a thorough assessment of the home’s condition and can even be used to negotiate a discount for the purchase. In addition to evaluating the condition of the house, inspectors are also an important tool in negotiating a discount or requesting a discount from the seller. Read on to learn more about the importance of Home Inspections.
Home inspections are a part of the due diligence period
As part of the due diligence period, buyers should conduct thorough research about the house and make certain they are comfortable with it before signing a contract. Usually, this period lasts two weeks, but parameters vary from state to state. It can begin at the signing of a contract or at escrow. If this period is short, it’s worth pushing for a longer one. This is especially true for first-time buyers.
They can be used to negotiate a discount
During a seller’s market, negotiating repairs can be very aggressive. The seller will be reluctant to do repairs that would negatively impact the home’s value. A buyer’s market on the other hand gives the buyer more leverage. The seller is not sure if there are other buyers behind the offer. The seller can’t even tell how many others are behind the offer, so he/she feels uncertain and afraid to lose the deal.
They provide a detailed assessment of the home’s condition
During the inspection, the home inspector looks for seven major issues that can affect a house’s sale and function. These issues can be costly to repair and pose a safety or function threat. The most common issue is water. Water stains in the house can indicate a variety of problems, from plumbing issues to roof leaks. Inspections also check the land surrounding the house for any issues with drainage and grading.
They look for signs of damage and defects
A home inspector will look for cracks and other signs of structural failure. Some cracks are serious, while others are purely cosmetic. Cracks on concrete slabs, for example, may indicate that the foundation has settled. The inspector will note any signs of structural failure, including the presence of rot or mildew. Cracks may also be caused by water damage. A home inspection can help identify any problem before it causes significant damage.
They check every accessible GFCI to make sure it’s operating properly
If a house is built before the National Electrical Code was adopted, you’ll want to hire a home inspector to perform an inspection. An inspector’s primary goal is to determine whether a house has all the safety features it should have. That includes checking the condition of electrical receptacles. A home inspector should also test all accessible GFCIs in the home, and they should have a GFCI 3-prong tester to perform the test. A properly functioning GFCI can save your life!
They can lead to back out of the deal
If you’re buying a home, you’ve probably thought about getting a home inspection done. Unfortunately, the results can be disappointing. While you’re under no obligation to buy a home with flaws, a poor inspection can be a deal-breaker. Although you may not lose money on a home inspection, you may have trouble finding a similar house in your price range. You’ll have to gauge your willingness to negotiate with the seller.