Why is it a good idea to get a professional home inspection done before purchasing a home? In Lake Elsinore, a professional home inspection can cost anywhere between $250 to $650 (depending on the size and characteristic of the homes). A standard purchase contract is contingent upon the buyer’s home inspection, which means if a buyer finds any significant defect through a home inspection, he can back out of the purchase contract without being penalized and or losing his earnest money deposit. Usually, a buyer has 17 days to complete the home inspection and remove the inspection contingency. These 17 days are when a Buyer needs to do all the due diligence and the seller needs to have the home available for the Buyer to conduct all inspections desired by the Buyer. Some of these inspections are paid and provided by the Seller and some are paid and provided by the Buyer. Usually, the Buyer pays and schedules for a professional home inspection.
- Visual inspections don’t reveal hidden defects
Visual inspections by buyers are not enough to reveal any hidden damages or defects in a property. Home inspectors are board-certified and are trained to inspect areas of safety concerns, any major/minor defects, and areas of on-going maintenance. Thus, the buyer needs to conduct a professional home inspection. A few hundred dollars now may save a buyer thousands of dollars and hassle in the future.
Following is a list of items/areas generally included in the inspection:
Interior: Plumbing, electrical, appliances, bathrooms and other ‘wet’ areas, heating and cooling systems, furnace/water heater
Exterior: Roof, walls, gutters, foundation, grading system, and garage.
2. A further detailed inspection may be needed
If a major defect is found during a home inspection, you have an option to get an expert to inspect/repair it. Home inspectors usually can’t identify all the problems and details, but they do a visual analysis of damages and recommend further inspections by experts in that area. For example, a home inspector will note cracked tiles/shingles on the roof but will recommend a specialized roof inspector to confirm major roof issues (caving in roofs, major leakage issues, etc.). Then the buyer will make the decision of hiring a roof inspector for further evaluation.
Home inspectors usually provide buyers with the home inspection report within 24-72 hours of the inspection. The report may seem lengthy, but it’s a very good idea to sit down and go over the report carefully. Try to sort out minor issues, which may not need to be repaired, from major issues which will require immediate attention and may cost a lot of money.
3. It will help you know which repair items to ask from the seller
As a buyer, you can always request the seller to repair/replace or credit you for the damaged items. The sellers usually accept to repair the damages, if not then they at least credit some money to the buyers at closing. If the defect is really big and not replaceable, or if there are some major structural issues, a buyer has a right to cancel the purchase contract in a timely manner, without any penalties.
4. Peace of mind
We recommend buyers to get a professional home inspection done even when purchasing a brand new builder home! It is likely for brand new homes to have plumbing and electrical defects. It is also important to have a Realtor® represent you even if you are purchasing a brand new builder home directly from the builder. We, at Legacy Homes Realty, will be glad to register you with a builder in Lake Elsinore and surrounding areas/cities.
If you’re thinking of selling your home and are not sure when is the right time to sell your home then feel free to check out our other blog posts “WHEN IS THE BEST TIME TO SELL HOME IN LAKE ELSINORE, CA, IN 2021?” If you want to know how much your Lake Elsinore home is worth then Click Here or fill out your address below and click find my value.