Inspection is a mandatory fact finding process that everyone has to conduct before buying a house. It has great significance because the success of your investment depends on it. That’s why you must make the process very seriously. You would have to render the services of a professional to carry out an inspection. An inspector is a licensed authority that leads the investigation to find the facts about a certain property. Don’t leave finding a good inspector to chance but do some real effort to track down a competent professional. The following tips can be used to carry out a general home inspection before buying a house.
1. Learn a few things about the inspector
Before you rush to see the final report, it would be better you focus on hiring a capable inspector. The quality of inspection depends on the knowledge and expertise of the inspector. That’s why finding a few things about the inspector isn’t a bad idea. You can try to find out about his past experiences and the orientation of his previous inspections. If he had previously dealt with only commercial properties, then he might not be the ideal choice because a residential inspector has a different mindset. Don’t worry if he isn’t the right choice because there are many domestic inspection companies that you can choose from.
2. Cheaper isn’t always better
Every one love inexpensive services but the fact is cheaper isn’t always better, especially when you are about to invest your life saving into a property. You can find countless ads about different inspection services but what really matters is how much fee they are asking from you. Usually, an experienced inspector would cost you more as compared to an amateur or someone with little experience. Some might consider it a formality, but just imagine that if the facts reported in the assessment report are quite different from reality. The crux is, saving money matters but not where the trade-offs are huge.
3. Attending inspection has future-benefits
Previously people were less concerned about the money they are investing, but time has changed and so should the old habits. Like not accompanying the inspector on a visit. The inspector is a neutral entity that has no emotional attachment to anything when he’s at work. He can’t explain in the report that the house has an interesting interior or how ravishing the swimming pool looks. These are the facts that you must see together with the inspector. The biggest advantage of attending the inspection is that you can easily relate the report with the visual facts. So, find some time if you can and be there in time.
4. It isn’t a pass or fail test
When you think about the property inspection probably the first thing that comes to your mind is the pass or fail of inspection, but it’s way beyond that. The property inspection is a fact-based analysis and then it is based on the criteria you choose whether to invest in a certain property or not. A property might fail the test of luxury but can still be beneficial due to its geological location. It all depends on your business plan or future planning about a certain property. That’s why don’t point out too many negatives, instead, use them as a tool to crack down a better deal.
5. Don’t hesitate to question
When you are accompanying the inspector, make sure you take advantage of his presence and do some questioning. If you see a particular structure with prominent issues, don’t hesitate to question until you are satisfied. For example, you probably find in the report that a house has a severe mold infestation but probably the reason for it would not be mentioned in the report. Since you’d be living in that house it is your right to know why it happened in the first place. Above all, is there a chance that it would come back? The questioning at the spot can help you understand the facts a lot better than simply reading the final report.
6. Compare the visual and documented facts
The real work begins when you have the final report in hand and have to make a final decision. You’d find only facts in the report but you must use your experience to compare the facts. This would help you understand the actual state of the building. You might have seen only a certain type of defect but the report not only state the present condition but also tries to predict the future as well. You compare the visual facts with the documented facts to make a good decision.
7. Be neutral
When you set your mind to invest in real estate, then you must be ready to visit several properties before reaching your final decision. A house can be beautiful or hideous based on the current appearance, but what truly matters is your objective behind the investment. No, matter what your intentions are you have to be neutral till the very end and make a fact-based decision. The emotions can cloud your judgment
8. Use the report to negotiate
The most predictable use of an inspection report is to make a buying or no-buying decision. What you don’t realize that it is an extremely powerful document that can be effectively used to negotiate and crack a good deal. The report holds the facts and you can exploit these facts to reduce the price of the property by making a counter offer. If you are not a good negotiator, then you must hire someone that is good at it.
Buying a property requires a huge amount of money and arranging that money can be very troubling if you don’t own it. Therefore, the investment is to be of suitable value and you mustn’t ignore the facts stated in the report by your inspector. You might want to plan another visit to verify the problems pointed out in the report. Make sure your agent accompanies you so you can have a closer look at the property before finalizing your choice.
