After visiting house after house, you have found the perfect home for you and your family. You submit a great offer and the sellers accept. Congratulations! Now all that is left is signing the closing documents and getting the keys, right? No! There are several more steps in the process, one of which is the home inspection. But wait, inspections cost money so you think about not having one done. After all, you walked through the home and didn’t see anything wrong so why would you need to have someone else look at it. Thinking that way could be a costly mistake in the long run. You may not have noticed the furnace isn’t working, hot water heater is broken, the toilets are backing up, or the large amount of mold growing under the basement subfloor to name a few. Just to give you an idea of costs, mold mitigation and sewer repair can cost from $3000-$10,000 or more depending on the extent of the damage.
A home inspection will cost you anywhere from $300-$1000 depending on the size of the home and the scope of the inspection which can also include a sewer scope and a radon check (If you want more information on Radon please email me). A great Realtor and inspector will inform you of these choices and why you should have them completed. To many times I have talked to home buyers and sellers who say their real estate agent didn’t mention anything about a sewer scope or radon test which is unacceptable in my mind.
Your home inspection has specific dates to be completed by which are documented in the Colorado Contract to Buy and Sell Real Estate under Inspection Objection Deadline. You must have your inspection complete and any objections (repair/replace request) to the seller before that date passes. Your Realtor will ensure you stay on top of getting this done and should be able to recommend trusted inspectors.
Once the inspection is complete you will receive an extensive report of the items the inspector found. You and your Realtor will discuss the report and course of action. Anything we ask the seller to repair or replace is a renegotiation of the contract which could lead in cancellation of the contract.
Do yourself a favor and have an inspection done if you are buying a home. The benefits could save you thousands in the long run.
Tom Johnson, Realtor
For up to date info and tips “like” my page at: www.facebook.com/tomjohnsonrealtor