Imagine a throat swab, accompanied by a nasal endoscopy, followed by a colonoscopy and you will get a good idea of what your poor house goes through during today’s home inspection phase of escrow.
When I first started my real estate career 20 years ago, physical inspections were much simpler.
The inspector arrived with his ladder, pencil, pad, and flashlight; spent about an hour determining if the house was sound (they usually were), and called it a day. Most reports were black and white, had no photos, and maxed out at 20 or 30 pages.
Today’s inspection reports could be used for step classes at 24-Hour Fitness.
They’re forensic, often topping 100+ pages, and feature more color-saturated photos than the September issue of Vogue Magazine. Home sellers would be wise to be sitting, Jameson Whiskey in one hand, smelling salts in the other when they receive their copy of the inspection report.
The inspections and resulting reports are often so distressing to homeowners that I now prepare them with the following advice:
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Unless you are selling an ‘as-is’ fixer, repair any dripping faucets, slow drains, windows that don’t open and shut properly, broken garbage disposal, etc. Small, easy fixes should be done before going on the market but definitely before inspections.
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Do not attend the inspection. Homeowners cannot help but feel invaded, sensitive and defensive during the inspection making their presence awkward for the buyers and their inspector. Go to the movies, visit with family or friends, spend some time at the beach, or read War and Peace, something time-consuming as inspections usually take three-five hours, with even condos and small houses taking two-three hours. The listing and buying agents or a member of their teams should attend inspections on behalf of their clients.
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Tools used by today’s inspectors can include electrical testers, moisture meters, infrared cameras, AFCI/GFCI testers, combustible gas detectors, radon and carbon monoxide monitors, microwave testers, mold testing kits, and so on.
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Surprisingly, not surprisingly, inspectors will find problems even with brand new construction homes.
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The inspection report is traditionally ready within 24-48 hours after the inspection. The buyers’ agent emails it to the listing agent who then forwards it to the home seller.
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The inspection report will be detailed, thorough, and usually easy to understand. Every problem found will have a photo and an explanation. Most inspectors summarize their findings at the conclusion of the report, which often becomes the basis for the “Request for Repairs.”
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Experienced agents on both sides will smartly guide their clients through Request for Repairs. Asking for upgrades or to repair or replace something that was obvious when the offer was written should be off the table. For example, if the carpet is worn, one does not ask for new carpet or a flooring credit because ostensibly the worn carpet was factored into the purchase price. However, if it is discovered the garbage disposal does not work, that should be fair game and agreeable to the seller.
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Oftentimes inspectors will recommend secondary inspections such as roof, plumbing, HVAC, foundation, sewer scope, and electrical.
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Customarily, sellers allow unfettered access for the inspections and buyers pay for inspections. The exceptions are termite and septic which are usually paid for by the sellers.
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The inspection period of escrow – by default the first 17 days of escrow though most agents shorten that time period – can cause the most angst for the sellers and buyers because no one wants to discover something very wrong with the house, a “deal killer.”
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If something major is discovered like mold infestation, foundation problems, corroded cast iron sewer pipes, HVAC system at the end of its life (inspectors love saying, “at the end of its life”), leaking roof, etc. the buyer, depending on the buyer’s desire for the property, could cancel escrow, negotiate for repairs and/or seller credit and/or price reduction or they could accept the findings and remove buyers’ physical contingencies.
While one could argue that today’s inspections are over the top, especially for older homes which are the norm in La Mesa, ultimately it is in the buyers’ best interest to know exactly what they are buying and the sellers’ best interest to be protected from future complaints from buyers who may accuse the sellers of hiding defects.
Crédito de la foto: Pixabay.com
– Reach Laura Lothian at: [email protected].
