If you're putting your home up on the market, you might be wondering if a home inspection in Concord, NC, would reveal any common issues that need to be addressed. After all, most buyers won't commit to buying a property until it's been thoroughly inspected by a home inspector—and be assured, if there are issues, this expert will identify them!
A home inspection is one of the final stages before closing on a new home. This procedure allows purchasers to see behind the hood of their potential house and determine what repairs, extensive and minor, are required to make it safe and pleasant. Some faults discovered during a house inspection will not be apparent during a showing, which is why it's vital to pay extra attention to structural difficulties, health hazards, and other potential solutions and consider them into your total cost.
Some repairs, such as lead contamination or mold, may be required before the sale can be completed. Others, such as a malfunctioning appliance or an inefficient air conditioner, maybe less so. Here's how to determine which repairs are required following a house inspection, who is liable for repairs, and how to request repairs following a home inspection.
There is no such thing as a necessary fix or a legally required fix following a home inspection. Mold and chemical pollution, roof damage, and plumbing difficulties can all be discovered during inspection. This means that some repairs are required to make a home habitable, while others are "good to have" but do not have to be completed before the buyer moves in.
In general, buyers should propose repairs to the property that address health problems or severe structural risks. These may include the following:
Cosmetic repairs for wear and tear aren't required or the seller's obligation. There are a few more factors to consider when deciding which adjustments are "necessary" to complete a transaction and which are optional. Some states, like Florida, have "as-is" contracts that absolve the seller of any obligation to make repairs. This would mean the buyer accepts the property in its current state but reserves the right to back out if the inspection reveals too many flaws.
There's also a distinction between repairs requested by a buyer and those required by a lender or insurance provider to underwrite a mortgage or homeowner's policy. If the bank is not satiated with the results of an inspection and the planned repairs, you may be denied financing or insurance. Certain repairs may be "necessary" for a buyer to receive a loan and close on the house in this situation.
If the homeowner refuses to make repairs, the most drastic measure a buyer can take is to walk away from the transaction. This is not always easy, especially if you're in love with the house, but if you can't agree on how to make the property safe and habitable at the right price, it's time to move on.
However, the prospect of repairs should be discussed from the beginning. You can make your offer contingent on the home inspection results if you're a buyer. This provides you additional negotiating power with the homeowner or the option to walk away if necessary. You can also arrange a lower purchase price to account for the cost of repairs or a cash allowance, so the homeowner doesn't have to manage the repairs but still pays a portion of the bill.
Here at One and Done Home Inspections, we'd be happy to assist you if you're ready to list your house or want more information on what repairs from a home inspection in Concord, NC, could be required to get it ready to sell. Call us today!