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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  April 5, 2011  |   Home Inspections Can Spur Haggles Over Price
More buyers are using home inspection reports as leverage to get a price cut or get sellers to pay for extra repairs, says Harris Gross of Engineers for Home Inspection in Cherry Hill, N.J.

“The result depends on the financial position of the seller and the comfort zone of the buyer,” says Noelle M. Barbone, manager of Weichert REALTORS® in Media, Pa. “We are a coupon-clipping society,” with buyers trying to save every penny they can, she adds.

But home inspectors caution that home inspections are not intended to note every tiny defect and they aren't there to "pass or fail a house." Instead, the home inspectors job is to describe the overall condition of the home and indicate which components and systems may need repair or replacement, according to the American Society of Home Inspectors.

A home inspector’s standard report will cover the condition of the following:
  • Heating system;
  • Central air-conditioning system (temperature permitting);
  • Interior plumbing and electrical systems;
  • Roof, attic, and visible insulation;
  • Walls, ceilings, floors, windows, and doors;
  • Foundation, basement, and structural components.

Some larger home inspection companies may offer even additional reports, such as for termite inspection and radon testing.

Buyers should accompany home inspectors during the inspection of the house and take a notebook or voice recorder and camera to use as future reference, suggests Weichert REALTORS® agent Diane Williams.

Source: “Home Inspections an Essential Tool for Buyers,” RISMedia (April 4, 2011)


Read more:
House Sleuthing: Help buyers make an informed choice about inspections.



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