Whether you’re buying a new home or selling your existing one, a thorough home inspection is a prerequisite to every residential real estate transaction. The findings of a home inspection provide a concise view of a home’s condition and reveal certain issues or problems that must be addressed before closing the sale. As a home buyer you want to know exactly what it is value of the house you’re purchasing. Otherwise, it could be devastating to find out that you have costly structural problems or need a new A/C unit.
Issues the Seller Needs To Be Aware Of
However, as a home seller, nothing is worse than having to put your home back on the market because your property didn’t pass the home inspection and the deal cancelled at the last minute. Having a home inspection performed before someone makes an offer will enable you to make any necessary repairs before finding a buyer. Thus, what causes a home inspection fail? Here are some of the more common reasons:
- Electrical system issues such as electrical panels that are improperly wired, frayed wiring, or wiring that isn’t up to code
- HVAC system problems such as improper installation and not being up to code
- Mold which if left untreated can be pose a dangerous health risk, especially for those individuals suffering with asthma and other respiratory issues
- Plumbing issues such as leaky pipes that have caused water damage or shower pan leakage
- Problems with the foundation settling, structural components deteriorating, termites, and other related issues
- Problems with the roof such as its age or a leaky roof
- Termites and other pests that have damaged structural components
In some areas of Florida, home insurance companies require that you have a 4-point home inspection performed before they sell you a policy. It’s referred to as this because it examines the 4 major home systems, namely the electrical, HVAC, plumbing, and roof systems. Be sure to check if you live in an area where this is required.
It is about evaluation of the home’s value
It’s important to understand that you don’t really pass or fail a home inspection. The report that the inspector generates after completing the inspection relates to the current condition of the home. In some cases, a buyer may decide to proceed with the sale even if the home fails the inspection. However, the lender may decide to back out regardless of the buyer’s intentions. Thus, it can be tricky sometimes. However to actually know the drawbacks and the areas that need repair is a must for both the seller and the buyer. To learn more about home inspections, contact Florida Inspections Unlimited at 305-910-1171 or visit our website by clicking here.