While getting a home inspection is not typically required when buying a house, it is a good idea to do. A home inspection will help you gain a better understanding about the condition of the house you are preparing to purchase, and the information the inspection reveals is something you could use during your negotiations with the seller of the house. Here are several things to know about home inspections and how to use one to help you negotiate for a lower price on the home.
You should be present during the home inspection
You have the option to be at the home inspection or not. If you choose not to be present, you will receive a written report from the inspector that contains his or her findings. While this can help you understand the condition of a home's components, it may not offer as many details as being present during the inspection would.
If you are there during the inspection, the inspector will have the opportunity to show you things he or she sees. This can help you grasp a better idea about the problems a home may have, and this can help you know how to negotiate on the house if you still want to buy it after the inspection is complete.
You can add up the costs of repairing things in the home
Once the inspection is finished, you will know exactly what work the house currently needs and what work it will need in the near future. When you have this information, you can call contractors for quotes so you can find out exactly how much money you will have to invest in making these repairs. Finding this out can be a good tool for negotiating, as you will have a good reason to offer a lower price on the home.
You can add contingencies to the purchase offer
If you do not want to offer a lower price on the home but really want to buy it, the other option you have is to add contingencies to the purchase offer that ask the seller to fix the things the inspector found during the inspection. For example, if the roof is in good condition except for the fact that it is missing some shingles, you could ask the homeowner to replace the missing shingles. You can ask a homeowner to fix anything that may be broken or in need of repair, and you will have to do this by adding contingencies to the offer. If the owner agrees to your offer, he or she will be responsible to take care of all these things before closing.
Getting a home inspection is not only a good idea to protect yourself, but it can also offer a good way to negotiate on price or contingencies. If you are ready to buy a house and need assistance, contact a real estate company today.
