The best medicine for home inspection headaches
The inspection process when buying or selling a home is a source of extreme confusion to many people.
So, I want to help clear the air for you.
The average contract has 3 contingencies: Inspection, Appraisal and Financing.
Let’s focus on the Inspection contingency today.
And in Tennessee, most people agree to resolve the inspection contingency within 2 weeks of everyone signing the agreement.
The inspection contingency period is designed for any type of due diligence, and not just the general home inspections.
If you have concerns about any of these issues, the time to check it is during the home inspection. This is not a comprehensive list, but is presented to give you an idea of what you may want to consider.
- Structural inspections
- Condition of the roof, HVAC or other mechanical systems
- Environmental hazards like mold, radon and asbestos
- Square Footage of the home
- Investment potential
- Boundary lines and lot size
- Zoning and codes issues
- Utility connections like high speed internet, gas, water, sewer and septic
- Flood zones and flood insurance requirements
- School zoning
- Crime and safety issues
- Legal/Tax implications
Issues with items on this list (and other similar things) need to be answered during the inspection period. Once the inspection contingency is resolved, you cannot re-open it for one of these items.
For example, lets say that you work out of your home and need hi-speed internet. Then you need to verify that the service is available during the inspection period. If you find out later that the service is not available, then you cannot cancel the transaction because of it.
This is why we talk about these items with our clients before we make an offer and during the inspection period.
I ask them to review a list of items to consider both before and during the inspection period to jog their memory.
And if you have specific concerns we provide the sources for you to double-check and ensure your satisfaction.
No assumptions and no stone left unturned is part of our standard operating procedures.
If this is how you want to operate, then give us a call today. We’re looking forward to hearing from you.
The Daily Deal in Nashville is a four bedroom home in Hendersonville that could make a great investment for less than $160,000.