The In’s and Out’s of Home Inspection in Boulder, Colorado
The home inspection is an integral part of the home buying process. After you have taken all the steps, gotten a loan, chosen a real estate agent, searched and found your new dream home, the home inspection is the opportunity where you really get down to the nuts and bolts (yes, pun intended!) of your new home. So why do we do one? And what happens when your inspector finds stuff that isn’t perfect? All your home inspection questions are answered right here! Let’s dive in!
Q. So first and foremost, what the heck is a home inspection?
A. The home inspection is part of the home buying process that usually happens shortly after the contract has been accepted by both the buyers and sellers. The buyers are responsible for hiring an independent home inspector who comes out to their potential new home and provides them with a detailed report regarding what issues the home has. These issues mostly have to do with the structural and safety components of the home- things like the foundation, roof, plumbing, electricity and wiring, heating and cooling components, and flooring. The home inspection takes place shortly after the contract is accepted because this is the most likely place the contract will fall through. Sometimes buyers think they want a home but then find out it has some issues they were unaware of and sometimes sellers will be unwilling to fix or compromise in this area.
Q. Ok, so what’s the point?
A. Buyers need a home inspection so they can move forward with the purchase of their new home confidently. By having an independent assessment of the home they are about to purchase, they get to move forward with their eyes wide open to current and future issues the home may have. Many times, the home inspection is a continuation of the contract negotiation process in that issues are found and the agreement between buyer and seller needs to be re-evaluated. For example, if the inspection sheds light on a roof issue a home has, the buyers can ask the seller to pay for repairs on the roof, can ask them to replace the roof, or ask them to lower the price they would pay for the home based on what repairs would cost. As you can imagine, these types of negotiations need to be handled delicately so both buyers and sellers can continue to move on through the contract process feeling confident and good about the deal.
Q. So who does these inspections? And can the buyers attend?
A. In the state of Colorado, home inspectors do not have to be certified. Buyers should make sure their home inspector is certified and licensed so they get the most thorough and detailed information. Many real estate agents have great inspectors they work with on a regular basis and are happy to make recommendations in this department. Since buyers are making one of the biggest financial decisions of their lives, we recommend seeking out professionals for this important step.
Buyers can attend home inspections and it is a great way to learn all the in’s and out’s of their new home.
Q. Last but not least, what happens when stuff comes up?
A. All houses have issues, even new ones. Buyers should carefully review the info given to them by the inspector and come up with a list of issues they would like the seller’s to address. Usually this list is focused on structural and safety issues. The smaller cosmetic issues are easier and less expensive to address at a later date. The Buyers and the Buyer’s agent work together to come up with the Inspection Objection. That form is sent over to the Sellers and then the Sellers can accept, can come up with a different solution, or can decline to do any of the work. Buyers and Sellers work together to come up with the Inspection Resolution. Once we have the Inspection Resolution, everyone knows what is going to be done before closing and the contract moves forward.
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