How to Prepare for an Inspection
For homeowners, it’s important to be aware of any issues your home may have prior to putting it on the market. Getting a pre-listing home inspection will ensure that you’re aware of any problems and can take care of them on your terms – or present them as-is and adjust your selling price proportionally. The alternative leaves you open to costly surprises and delays, and even potential deal-breakers once you’ve entered negotiations with the buyer.
For buyers, an inspection is vital to uncovering issues a home may have but are invisible to the untrained eye. Even if the inspection finds more problems than you’re comfortable with and you move on to a different home to start the process all over again, it’s money well spent. An inspection will give you the opportunity to ask the seller to make the repairs before you buy, or to back out of the contract. So be sure to ask for the “inspection contingency” when you begin to enter negotiations with the seller. This allows you to set a limit on the cost of repairs to the home. If the inspector estimates that repairs will cost more than the limit, the contract is voided. It is a good way to protect yourself from ending up with a home that requires repairs that you are unable or unwilling to pay for.
Before the inspector arrives, there are a few things you should know. There are no federal regulations governing inspectors. The laws are going to differ state by state. Therefore it’s important to interview your inspector or inspection company prior to hiring them. In Massachusetts all inspectors must be licensed and insured. Make sure your inspector is currently licensed. You can check licenses on the website maintained by the Commonwealth of Massachusetts Division of Professional Licensure. Credibility is a big issue in choosing the right inspector.
Here are some other suggestions for homeowners: