10 Things a Buyer Needs Know About Home Inspections

Whether you’re in the process of buying your first home or your tenth investment property, home inspections can seem overwhelming. After all, there are many aspects of the property to consider, especially for the luxury market. An inspection can get rid of any gnawing worry that there could be something truly wrong with your dream home. Here are the top 10 things a buyer needs to know about home inspections:
1) Inspections are Optional
Although it’s true, inspections are optional to the buyer, I believe they are important because they allow buyers a chance to negotiate with the seller to cover the cost of some repairs.
2) Buyers are responsible for inspection costs
In reality, inspectors work for you, the buyer, not the seller.
3) Home inspectors must be certified
Make sure you are working with a certified home inspector. You can easily check out the Yelp reviews of the top home inspectors in Santa Barbara, but a better way to ensure you choose the right inspector is to ask your Realtor for a referral. I have my favorites!
4) What inspections cover
The American Society of Home Inspectors lists everything a qualified inspector will check.
5) What inspections don’t cover
There are some items that are not included on the list, including roof or chimney repairs, but you can have those checked by a local professional prior to signing the sales agreement.
6) You can attend inspections
In fact, it is recommended that the homebuyer or his or her representative attend inspections to ask questions on the spot.
7) Request an inspection report
By working with a Realtor, the Seller will automatically receive this report, but you can request one for yourself or your representative as well.
8) Repairs are negotiable
Your Realtor will use the report in negotiations.
9) You can simply walk away
As long as you don’t sign off on the inspection, you can walk away from the purchase should the report turn up something catastrophic like toxic mold, or severe structural damage, or if you and the seller cannot negotiate positive terms to move forward with the sale.
10) Keep paperwork for all repairs
Mortgage and title companies will ask for these documents at settlement.
If you are planning on buying a luxury property in Montecito or any of the surrounding areas, I personally know the best home inspectors that will steer you in the right direction. Let’s discuss your real estate needs and find you the home of your dreams! Please give me a call at 805.886.9378 or email me at Cristal@montecito-estate.com.