Home Inspection Red Flags
Posted on: Tuesday January 02, 2018
At Nexera Law, we recommend buyers conduct a thorough home inspection by a qualified professional before closing on their new home. This is not only a great form of insurance, as it will help ensure that there are no obvious issues in the property, it is also an opportunity to for check out all the utilities and familiarize yourself with your purchase.
A home inspection is a non-invasive examination of the condition of a home. Home inspections can be conducted by professionals who have training in such inspections or by the potential buyer themselves. Professional home inspectors deliver detailed reports on their findings. The goal of a home inspection is to uncover all issues and potential problems in a home so that the buyer can make an informed decision on their real estate purchase.
What to look for in your home inspection:
- Mold, mildew or any moisture in the home
- Plumbing problems like leaks and water pressure
- The condition of the roof and chimney
- Adequate electrical wiring, confirming sufficient breakers and code
- Heating and cooling systems
- The home’s structure and foundation
- Working appliances
- Smoke detectors and carbon monoxide detectors
What do you do if you notice broken utilities?
If you discover any issues, it is important to know that you have options. This can sometimes depend on the conditions of your purchase agreement. If you are unhappy with the result of the inspection, you can consult your realtor or a lawyer to discuss possible courses of action. Many clients decide to accept the deal regardless of the results of the home inspection – this is common practice when minor details are brought to light in home inspections and when the real estate marketing is competitive. It may be possible to agree on holdbacks or credits between the buyer and the seller if more substantial defects are noticed and large repairs are needed. We recommend working closely with your realtor and/or a real estate lawyer through this process. An experienced real estate lawyer can explain all your options in detail and help you make informed decisions on your legal course of action. You can read more about what happens when deals don’t close here.
* Please note that this article is not a substitute for legal advice and is provided for general information purposes only. Nexera does not warrant or guarantee the quality, accuracy or completeness of any information provided in this article. Click here to contact a Nexera representative to discuss your unique situation today.