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Even though you may be eager to secure your dream home, signing documents too soon can lead to unnecessary headaches and costs. Knowing all your options before signing any documents is a must, especially when it involves an inspection. Here are the essential facts to help you make the inspection process easy.
What are the Rules?
Although inspections can be done at your own expense, it’s a smart idea to get one before you buy a home. This will prevent you from becoming blinded by hidden costs after you settle in.
One exception to this rule is if your home maintenance is covered under an association (i.e. condo life). You should always check with the bank to confirm that they require an inspection. You should choose a time and date that works for you and then go to the Home inspection in St. Paul MN. Ask your inspector any questions.
What is the cost?
Home Advisor estimates that the average American home inspection costs $338. They can range from $279 to $399, with some as low as $200 and others as high as $500.
What is covered?
Inspectors typically inspect the foundation and basement, electrical and plumbing systems, heating and cooling systems and windows.
You may need to contact other professionals if you are looking for someone to inspect the walls, roofs, chimneys, wells, sheds or structures outside of the main house. Before they inspect your house, it’s important to ask the inspector about what they have covered.
Where can I find an inspector?
We recommend that you find an inspection company with professional affiliations. National Academy of Building Inspection Engineers (NABIE) and National Society of Professional Engineers (NSPE) are the only ones that accept Licensed Professional Engineers. To find a Home Inspector in your area, use resources such as the American Society of Home Inspectors’ (ASHI) search engine.
What happens after an inspection?
After the inspection is complete, here’s what your inspector should tell.
- What repairs are needed?
- They should be done immediately
- How much it might cost
- Hidden risks or damage that could be caused by current events
- There are other options for repairing or replacing an item
He also said that you should expect the following:
- Written report detailing the details of your project that goes beyond a checklist
- A P.E. Licensed Seal on the report
After the inspection, you can negotiate who will handle the repairs. The site explains that there are three possible outcomes to these negotiations. “The seller can do the repairs before settlement. The seller can credit you with money or they can be your responsibility.”
Buyers can usually walk out of a home if the repairs are too costly. However, they must sign a binding contract before they can do so. Keep the invoices for all repairs so that you can settle the matter and get the deed.
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