Home Inspections and Home Warranties Buying a new home can be stressful. Between pulling finances together, searching for and viewing homes, packing, cleaning and everything else involved, you
Home Inspections and Home Warranties
Dated: July 1 2020
Home Inspections and Home Warranties
Buying a new home can be stressful. Between pulling finances together, searching for and viewing homes, packing, cleaning and everything else involved, you can really put a lot of time into the process. But imagine finally getting into your new home and realizing you have a list of repairs to do that you weren’t prepared for? That is why home inspections and home warranties can really save you some time and money by addressing the problems before you move in and oftentimes, the seller will repair the items at their expense!
The first step is to hire the right inspector. There are many out there, and most are excellent at their jobs. Hiring based on a recommendation is always the way to go. Whether it is a real estate professional or a friend or family member recommendation, go with someone who has proven themselves to be fair, accurate and precise. Also, certain properties are unique and there may be special items that require a deeper level of inspection like a pool, certain non-standard household equipment like elevators, sprinkler systems, etc. Not every home inspector is experienced with these items, so you and your Realtor should identify those items to potential inspectors to ensure they are prepared.
See our list of qualified and proven home inspectors HERE.
It’s also important to understand that not every possible problem will be identified by a residential home inspector. They have limited ability to really inspect everything. Certain items may require additional professional advice, like that of a certified HVAC technician, electrician, plumber or other qualified professionals like structural engineers. It’s vital for you and your Realtor to inspect the home as well and identify items that may be overlooked during the inspection. Most inspectors don’t mind you tagging along during their inspection.
Once you have a copy of the report, you and your Realtor can sit down and go over the important items, call in for backup with certain items if necessary and identify the list of items you’d like the seller to repair. This is a negotiable process, so understand that not all sellers are eager to fork over money for repairs, however your Realtor can help navigate this process and if done so professionally, most major items can be satisfied on both sides. It’s kinda what we do!
So, now that you’ve closed and you own the home, what about all the repairs that might come up? What about the old water heater or HVAC unit? What if the water line breaks? What if the oven stops working all of a sudden? These items are most easily addressed in a home warranty. Most buyer’s agents request a home warranty be paid by the seller for one year after closing. It’s a standard in our offers and most sellers have no problem accommodating that request. It’s an easy and inexpensive way to give the buyer some comfort about the older appliances and problems that arise over time. Home warranties are also not “one size fits all”. Different homes require different coverages and most policies have many different add-ons that may or may not be of benefit. It’s important to review a couple different options before choosing a home warranty company.
Check out or list of preferred home warranty companies HERE.
When all is said and done, you will not (most likely) identify every problem with a home during your inspection period. Hiring the right people for the job will definitely increase your chances of covering all possibilities, and making sure you’re protected afterward is the icing on the cake!
For more information about this process or any other real estate related questions, please CONTACT US at any time. We look forward to hearing from you!
Prior to his real estate career, Geoff spent nearly 25 years in the retail Grocery industry, most recently as a Store Manager with Publix Supermarkets, Inc. His ability to manage diverse people, syste....
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