Once a contract has been accepted, schedule a home inspection IMMEDIATELY. The home inspection is the Buyers one true way to assess whether or not the home meets expectations in terms of condition (roof, furnace, plumbing, mechanicals, evidence of termite or water damages, etc.). If the inspection is not favorable, this is the Buyers opportunity to either present to the Seller any unfavorable, unexpected or unacceptable conditions that were discovered and (hopefully) initiate a negotiation OR (in the worst case scenario) for the Buyer to terminate the contract and move on.
One important note about home inspections…ALL homes have defects. Home inspectors are usually good about noting deficiencies that are alarming vs pointing out items that are matters of future preventative maintenance. A good home inspector will educate a Buyer and offer advice on how a particular deficiency should be considered.
Ideally, the inspection should occur within the next 2-3 days, however, during the busy summer months, inspectors may be booked out up to a week or more in advance. It’s important that the home inspection occur quickly as it often takes the inspector 1-2 days to write the report after the inspection. Once the report is written we still need some time to review the report and ask the seller for any credits or repairs before the contingency review period ends, which is typically 10 business days after offer acceptance.
Plan to attend the inspection which will take approximately 2 hours for a condo and 3 hours for a single family home. Inspectors usually only work Mon – Fri and may not work evenings or weekends so you will probably need to arrange to be off work for the inspection. Wear comfortable clothes which can get dirty as the inspector may want to show you something in the basement, crawlspace, on the roof, etc.
Once the inspection is scheduled, let us know so we are aware of the timing and we’ll also make sure that the Seller’s Realtor has been property notified.