How to best use your home inspection report- Six Great Uses
We have 6 ways to best utilize your home inspection report. I recommend taking advantage of the knowledge gained in your home inspection, and using the report for your maximum benefit.
1. Buyers should use the conditions reported, as well as the estimated ages of systems to determine their ability to afford the maintenance on the home. If several systems are at or near the end of their life expectancy, this must be considered. Projected systems that are costly can include heating, roofing, or plumbing systems.
2. Buyers can use conditions found, that were previously undisclosed, to request or compel the seller to make repairs or concession in price (either purchase price or perhaps a credit at closing).
3. Sellers should consider a “pre-listing inspection”. This inspection is identical to a buyers inspection. It can yield valuable information about the home you intend to sell. Deficiencies found can be corrected, or disclosed. Disclosing deficient or marginal items can avoid the secondary negotiation after the buyers inspection. This can help sellers correct significant items that may deter potential buys as well.
4. Buyers and Sellers can use the report as a maintenance list. This can create a punch list of items that require repair, either prior to or after purchase.
5. Buyers and Sellers can opt to share the report with their contractor who may be performing repairs on the home. The images and wording can help a home owner better communicate the deficient item or aid in determining the repair process to a contractor.
6. Buyers can withdraw from the sale if the deficiencies are too great or can not be negotiated. In RI a buyer can withdraw based on the result of the home inspection and receive the entire deposit back.
Buyers and sellers should consider obtaining inspection reports only from professional full-time home inspectors, a Certified Master Inspector, for example. A home inspector with an unbiased view of the property.
Inspection reports generated by builders or contractors are often used by them as marketing tools and a means to generate business for maintenance and repairs and do not always represent the actual conditions of the property.
Mike Auger, CMI