Real Estate Home Inspections
As we have fully transitioned to a traditional real estate market we have seen many changes in regard to the interpretation of how home and termite inspection reports are utilized. A trend that we have began to notices that more and more homes seem to be having inspections completed before the property is listed. As far as the Residential Purchase Agreement allows, there is no right or wrong way to approach inspections and disclosing the information provided in them. From the perspective of the inspection company the most important thing to remember prior to having an inspection complete is that all area of the home are made accessible, for example, all inspection companies will require that there be adequate space around the garage foundation wall to allow inspection (please keep this in mind if you are in the process of moving- don’t fill the garage to the sides and top with boxes- the inspector will need to see that area to provide a thorough inspection).
Having home and termite inspections prior to listing a property can be beneficial to a homeowner for many reasons, one reason being that they can have an unbiased opinion on the condition of their property and utilize that information when deciding on a price that they would like to market the home at. Having the inspections done before hand can also allow for shorter contingency periods which could lead to an expedited Close of Escrow.
Traditionally in the Sacramento area home and termite inspections have happened following an offer being accepted. It is common to see an inspection contingency period ranging from 7-14 days, this contingency period allows for buyers to have inspectors of their hiring evaluate the property and provide opinions that ultimately allow the buyer to make a decision on completing the purchase pending the physical state of the property.
These inspections will typically prompt a Request for Repairs if there are imperfections. The Request for Repairs can potentially become an additional negotiation piece when the inspections are performed after the two parties enter into contract.
As stated before there is not a “right” or “wrong” way to approach when to have inspections completed- however it is important to understand that you have options when it comes to home and termite inspections.