Seven Ways to Use a Home Inspection Report

Reblogger Gene Riemenschneider
Real Estate Broker/Owner with Home Point Real Estate DRE # 01492725

Good thoughts you should read from another great blogger.

Original content by Jim Bushart

In random order, I present to you seven different ways in which a home inspection report can be used by parties to a real estate transaction for advantage and benefit.

1.  Buyers can consider the reported conditions of the home's systems to determine their ability to afford to maintain the property.  A home with a 12 year old water heater, an 18 year old furnace and a 25 year old composite shingled roof is going to need some costly investments in the near future.

2.  Buyers can sometimes use information regarding undisclosed defects to negotiate the seller's action to repair the defect(s) or adjust the asking price for the home.

3.  Sellers can obtain a home inspection and use the report to disclose known defects to potential buyers.

4.  Sellers can obtain a home inspection and use the report to identify and correct significant defects that could interfere with a buyer's desire to submit a contract to buy the property.

5.  Buyers can use the inspection report as a "punch list" or "to do list" for maintaining the property after purchase.

6.  Buyers/Sellers can use the report to communicate to contractors the nature of the defect(s) to obtain estimates for repair or to arrange for repairs or replacements.

7.  Buyers can sometimes use the inspection report as a means to withdraw from the contracted agreement to purchase the home when certain types of undisclosed defects are reported.

Buyers and sellers should consider obtaining inspection reports only from professional full-time home inspectors.  Inspection reports generated by builders or contractors are often used by them as marketing tools and a means to generate business for maintenance and repairs and do not always represent the actual conditions of the property.

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the sunglasses to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the sunglasses to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
451,717
Jeana Cowie
RE/MAX Real Estate Limited - Paramus, NJ
Broker Associate, ABR, CRS, GRI, SRES

Gene,

Home inspections are so important to buyers & sellers. Excellent post!!

Jeana Cowie, Broker Associate, Re/Max Real Estate Ltd., Bergen County, NJ

Nov 01, 2009 10:18 AM #1
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the envelope to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
1,259,055

Gene Riemenschneider

Turning Houses into Homes
What can I help you with?
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tree to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information