In the latest episode of Charlotte Today, Nancy Braun talks about why a buyer should never skip a home inspection.
It’s easy to get caught up in the excitement of buying a new home that some buyers tend to forget to make the important decision of having a home inspection conducted soon after they are under contract. However, a home inspection is a crucial part of the of the homebuying process that can save you a lot of time and money in the long run.
A home inspection is an all-encompassing examination of the condition of a home usually performed at the time of the sale. It is an inexpensive way to discover the overall condition of the property you are thinking of purchasing. Since a home is one of the most important purchases one will ever make, Nancy highlights the importance of ensuring that you are not buying a property in need of major repairs.
Most of the time, it's the buyer who pays for their own inspections, unless the seller’s paying for the buyer's closing costs. The typical cost can range anywhere from about $400 to about $1500, depending upon how many inspections you're gonna have.
Now, where and how do you find a qualified home inspector? Your Realtor® most likely maintains a list of home inspectors who are reputable. The inspector will look for problems with the property you're considering purchasing.
There are many different types of home inspection processes that you may want to conduct before the purchase of a home. Nancy recommends having termite and radon inspections.
The most important reason to have a home inspection before you buy is to really know what you’re buying. A home inspection is designed to keep people and property safe. The more you know, the fewer surprises there will be down the road.
If you have more questions about your home inspections or buying a home in Charlotte NC, get in touch with Nancy Braun at 704-997-3794. You can also start your home buying journey today.
Eugene Robinson: Buying a home is one of the largest investments you will make in your life that’s why you'll want to know everything possible about the condition of your home that you're purchasing.
Colleen Odegaard: Here to help us through the home inspection process is Nancy Braun with Showcase Realty. Nancy good morning, thank you for joining us today.
Nancy: Good morning.
Colleen Odegaard: Alright, you have insider inspection tips to really help buyers through the process. First, let's talk about this. Does the buyer or seller pay for the home inspection?
Nancy: Typically, the buyer will pay for the home inspection unless the seller's goint to do an inspection prior to listing their home, but normally it's the buyer will pay for their own inspections, unless the seller’s paying for the buyer's closing costs.
Eugene Robinson: So okay, what are the typical costs of doing an inspection?
Nancy: Well, they can range anywhere from about $400 to about $1500. Depends upon how many inspections you're gonna have. So, it also depends upon the home. So you could have a general home inspector do almost everything. You might have a pool, so maybe a pool inspection, you might have a radon inspection, you can have a termite inspection, structural engineer, roof inspection, furnace inspection, septic. Well, it could add up.
Colleen Odegaard: Why is it so critical for a home buyer to get a home inspection done before they go under contract?
Nancy: Well, that's the most expensive thing that you're going to buy probably in your lifetime, so you want to make sure that you know what the condition of the property is and during the inspection you're going to learn maintenance tips and you're going to learn how to take care of your home. And what specific things are specific for that home that you might need to keep an eye on.
Eugene Robinson: Okay, here it is, I'm looking for an inspector. What should I be looking for and what's going delineate who's a good inspector, and what's a bad inspector?
Nancy: Yeah, so, you know, inspectors are licensed and they have to pass exams, and most have affiliations with national organizations. Your realtor is probably going to be your best advisor on giving you a couple choices, on inspectors that they've used that they've liked, and they believe do a good job.
Colleen Odegaard: What are the most important inspections that should be covered. the most important things?
Nancy: The home inspection and in Charlotte, the termite inspection. I also really urge all my buyers to do a radon inspection, 'cause if you have radon in your house, you don't know it. It's an invisible gas, and it's deadly.
Eugene Robinson: Is there a different type inspection for doing a single home and then of a condo?
Nancy: It’s the same. It's usually a condo is a little less money, it's not as complicated 'cause usually the HOA takes care of the exterior so it's really more on the mechanicals and the inside, but the home inspector will, you know, do either.
Eugene Robinson: Should we be concerned about the inspection report that we get? Because sometimes that could be a little bit intimidating.
Nancy: It is intimidating, it's very thick. And we actually, when we sit down to work with a new buyer, we'll show them an example of what a home inspection looks like because they need to know what all the documents are going to be involved in the transaction, so we go through this enormous book and show them each. But the home inspection is full of a lot of detail, a lot of disclaimers, a lot of fluff, and maintenance tips. So you want to go to the summary page. Usually there's a page that just shows the items that are concerns that you need to address, but not be overwhelmed by the volume of it, because it's big for everyone
Colleen Odegaard: And that's where you can really help people through that process, because to your eye, it might be overwhelming, but you help us get to the important stuff. That's summary page,
Colleen Odegaard: So what kind of disclosures are required by law?
Nancy: The residential property disclosure statement is required by North Carolina and in South Carolina has their own disclosure as well and they have to disclose any known malfunction or defect that the homeowner, their seller knows about.
Eugene Robinson: Okay, now you say that you would sell a home for free if the buyer is not happy with it, is that correct?
Nancy: Well, yeah, so we have a program that if my buyer ends up not like loving their home in twelve months and they want to sell their home. I will sell it for free. They do have to buy another home with me and that is the condition. But other than that, you know, we want our clients to be happy.
Eugene Robinson: That’s generous, that is very, very generous.
Nancy: Most of my... I've never had anyone exercise it because they were always happy with what they buy. So, but it certainly takes away the fear element of getting into the wrong house.
Colleen Odegaard: The market is still really good right now. How long do you think it'll take to sell a Charlotte home? I know it kind of depends on the area and price point.
Nancy: I think it's 34 days on the market now is on the average, it used to be much higher, so we have less than a two-month supply in the Charlotte area. A stable market is six months' supply, so it's a seller's market.
Eugene Robinson: And then quickly, how in an inspection report if they find things that are wrong with the report, how quickly should the seller get on top of it, on fixing those things?
Nancy: Well, ideally we would go and get estimates from contractors immediately, so we know what we're dealing with, 'cause typically, a home buyer is gonna be very worried about the items that are on the list and they might think, "Well it's gonna cost a hundred dollars to fix a faucet, but then it might be only a ten-dollar fix. So we would like to get bids before we're even starting to negotiate whether the seller will do the repairs or the seller could put up money towards the repairs and then the buyer can get it done after closing.
Colleen Odegaard: Nancy, thank you you're so good, thank you so much. For a comprehensive buyer's agent home inspection cheat sheet visit BuyerBeware13.com, BuyerBeware13.com or you can call 704-997-3794 again 704-997-3794. Nancy and her team are happy to work with you. Thank you so much for being here today
Nancy: Thank you.