West Cobb Real Estate News!

By Dan Petersen

Petersen Partners/Prudential Georgia Realty

Should a buyer get a home inspection for a home
they are buying? Should a seller order a home inspection prior to putting the
property on the market? There are advantages for both.

Simply put, a home inspection is a visual
examination of both the physical structure and major systems of the entire home
including: walls, ceilings, floors, decks, exterior covering, the roof,
foundation, insulation and ventilation, plumbing, electrical, heating and air
conditioning. It is not an appraisal to validate the value of a home, nor a
pass/fail exam. A third-party inspector will give a report on the physical
condition and suggest repairs.

Buyers

For buyers, a home inspection clause in the written
offer that makes the purchase contingent upon the findings can provide peace of
mind. If a serious problem is found, it allows room to renegotiate the purchase
price or “opt-out” of buying the home altogether. However, this is usually
uncommon. Typically, the seller will already have told the buyer about any major
problems.

More often, inspections reveal less serious defects
that aren’t enough to warrant backing out of the transition. However, knowing
about these minor problems can prevent major disasters down the road. In
addition, if specified in the inspection clause, the cost of the repairs can be
at the seller’s expense.

Another advantage to having a home inspection is it
offers buyers an opportunity to become familiar with their new home and learn
about maintenance to help in its upkeep. Although not required, it’s recommended
that buyers be present during the inspection. This allows them to observe the
inspection; ask questions about the condition of the home; and receive an
objective opinion.

Sellers

For sellers, conducting a home inspection (or
pre-inspection) before listing their homes puts the control back into their
hands.

When the buyer inspection finds problems, it can
impede negotiations and cost the seller more in repairs. By having a
pre-inspection, the seller can help eliminate any surprise findings after an
offer has been made. The seller can make repairs before placing the home on the
market and possibly even increase the value of the home.

A pre-inspection can also serve as a great
marketing tool. Sellers are required by law to disclose any known defects in the
home. Having a pre-inspection report available for buyers tells them that the
seller has nothing to hide. It also gives them a clearer picture of the
condition of the home.

If there are major problems found during the
pre-inspection, it gives the seller an opportunity to disclose the condition
up-front, making it less likely for the buyer to pull out of the deal or try to
renegotiate the price.

Knowing the true condition of a home can bring
peace of mind to buyers and sellers; and be one less hurdle in the home buying
and selling process. Ask your real estate sales professional for a list of
certified independent home inspectors in your area.