HOME INSPECTIONS AND 4 THINGS TO NOTE! © 2014 Wayne D. Lewis, Sr.

Home inspections are an integral part of buying a home, and selling a home.  For the seller, it means discovering things that they may have either overlooked, or were unaware of, even as their near perfect home surrounded them every day for the past 5, 10 or so years.  Even the best home, despite its pristine appearance holds some very important challenges, that if not addressed, may result in a greater cost, whether the home sells or not.

Home inspectors are required to be licensed to conduct their work, and to advise of any safety concerns that are obviously visible.  Their paperwork often stipulates that their inspections are only to the extent that they are able to access under property, within the property or on top of the property.  So anything that a home inspector is not able to gain access to because it is blocked, covered, no utilities, or for the most part would require moving, or damaging the home, they are not able to reveal.  With that said, what do we know about the home inspection?

We know that for the buyer, it may mean an eye-opening experience.  If the buyer has not been prepared for an inspection report and what it could contain, the buyer may believe that the home should be torn down.  But that is hardly the case.  In many cases, the inspection may reveal a couple of minor code violations, an improperly installed door frame, a loose door knob, or a slight deviation in the foundation.  Any of these observations, as pointed out by the inspection, when lumped in with similar observations, say 30 of them, may suggest that the home is in terrible shape.  But for the buyer, it would be helpful to listen to the inspector when he/she gives his/her summary about the property.  Also, it would be helpful if the buyer would step away from the inspection report after first viewing it, so that they can get a better perspective of what the inspection report means.

While Home Inspectors are not all licensed in the areas of that which they point out as in need of attention, it is important that they note to the buyer that the area in question may require further inspection by a licensed or certified technician.  This caveat, for the benefit of the buyer and seller, proposes an additional set of eyes and a deeper technical perspective on the issue at hand.  Depending on the contractual agreement, the buyer, or the seller, may choose to have the matter taken care of to their satisfaction, before going forward.  Here are four ways a safety issue can be addressed by the buyer:

1. The buyer can decide not to buy the house and cancel the agreement;
2.  A technician can be called out by the buyer and determine the cost to repair or replace if necessary;
3. The buyer and seller can disregard the matter based on the technician’s assessment and move to close;
4. The buyer or seller can agree that the matter should be repaired or corrected, with certain conditions (those conditions would have to be worked out between the buyer and seller and their respective agents, with timelines and costs limitations set).

The above four approaches maybe determined individually based on a set of observations revealed by the Home Inspection, or what is revealed in the entire report.  No two responses by buyers are ever the same.  But here is something to be aware of:  if a buyer is aware of a problem before a purchase, and decides not to address it, or decides to repair the problem themselves, after the close, generally the matter relieves the seller of any further responsibility. 

Secondly, a technician being called out to address an observation revealed in a Home Inspection, maybe the choice of the buyer, and or the seller, or both, depending on what was revealed in the Home Inspection.  For example, a faulty gas line behind the stove, that would be something the sellers may want to repair themselves, especially if they are living in the home already. 

If an Inspection Report reveals that there are 2 or 3 piers in need of leveling, or appear to have termite damage, this may be an opportunity for the seller and the buyer to renegotiate the contract. Or, the buyer may accept the house in its present condition, and proceed to close.

For the buyer, as much as the seller, a Home Inspection may not produce a home’s best side, but not doing an inspection is a crapshoot that many, unfortunately, are willing to take.  

We can’t say exactly what may happen as a result of inspection, but the important thing is, that a buyer should not buy a home without a certified, licensed professional to give them a reasonable indication of the viability of a home.  There are always options after a home inspection, and while the four approaches above are not exhaustive, the most important thing to know, is that there are options, after a home inspection.

If you are looking for a speaker for any of your groups, please don’t hesitate to call me or email me to discuss New Orleans and the Home Buying process and how I can be of help to you, as you Make Your Best Offer.  Email: waynelewissoldit@gmail.com

Disclaimer:  Not an intent to solicit the business or clients of any agent or broker.  Information provided is deemed to be from reliable sources, but is not guaranteed.  No information should be determined to be legal advice, please consult an attorney or your Realtor regarding this subject matter.