Inspect Before You Buy!
By Jamie Kimbrough
Broker Associate, CDPE, CRS, GRI, AHS:
When you make a contract offer on a home, you should always have an inspection contingency. You will have to pay for the inspection yourself, but it could keep you from buying a house that could costs you hundreds or even thousands down the road. For example, in Colorado, there is an Inspection Objection Deadline and an Inspection Resolution that should be adhered to when purchasing.
During the inspection, a qualified inspector will take an in-depth and impartial look at the property and included systems you are planning to buy. The inspector will look at readily accessible and exposed portions of the property, including roof, attic and crawl spaces, floors, windows, doors, basement and foundations, as well as heating & cooling systems, interior plumbing, electrical supplies and appliances for potential problems. Home inspections are not, however, designed to point out every small detail or latent defect. Most minor cosmetic flaws should be readily apparent to the buyer, without the aid of the inspector.
I always recommend that potential homeowner be present for the inspection. This allows them to observe and ask questions during the process. Being present helps the buyers have a better understanding of the home and its systems, where they are located and how to maintain them. There will be an in-depth written report submitted to the buyers after the inspection, and their presence could make the report easier to understand. The inspector is looking to see if there are any apparent problems, repairs needed, or risks of concealed damage, and if any findings should be further reviewed by specific experts. Here's a link to our handy inspection checklist.
Besides the "mechanical" inspection described above, prudent buyers may also consider having the following inspections or tests done within the inspection period (that period before the Inspection Objection Date):
- Lead Based Pain
- Radon Gas
The inspection process should not be confused with the appraisal. The Inspection is contractual and has to do with the physical wholeness of the property. The appraisal is only for risk assessment for the new loan or to determine the market value in the appraiser's opinion. The appraiser does not typically look for any inadequacies in the physical condition of the property itself.
Jamie can be reached by calling 303-688-2202
or email her at: firstname.lastname@example.org