The home inspection may be the single most important part of the home buying process.
So often, buyers get caught up in the design, décor or location of the property, but they don’t really stop and consider the mechanical and structural elements of the house.
Thankfully, the Arizona Association of Realtors purchase contract is designed specifically to prioritize inspections and provide buyers with a 10-calendar-day inspection period. During this period, we strongly recommend our buyers hire a licensed home inspector to evaluate the home, so they really understand what they are buying.
During the home inspection, the inspector evaluates all systems of the house, from the air conditioner and roof, to the window seals and shut-off valves under the kitchen sink.
Some items called out in the inspection are considered warranted items and are required by the purchase contract to be in working condition. Buyers still can ask for non-warranted items to be repaired, but the repair of those items becomes a point of negotiation between the buyer and seller.
While negotiating a purchase agreement often can be sticky, the inspection negotiation is often the tensest part of the buying/selling process. Many agents turn this negotiation over to a closing assistant, but we feel this is the most important time to strongly advocate for our clients. If the inspection does not meet with the buyer’s approval, the buyer can request the seller to make repairs or the buyer can withdraw from the contract without losing his earnest money.
Naturally, every buyer wants a perfect house, and every seller thinks his home is perfect. The reality usually lies somewhere in the middle. If, as a seller, you have been deferring maintenance with the thought of selling before having to spend money on repairs, you probably will find the inspection negotiation to be a bit challenging and/or costly. On the flip side, if you regularly take care of your home, your inspection process will likely be smoother.
So, what if I am not buying? Do I still need a home inspection? Well, again, you don’t know what you don’t know. I just had a home inspection on my house, and learned so many things about my home of which I was not aware. It is a great way to stay on top of your home’s maintenance and also anticipate issues before they become major problems.
If you are getting ready to sell your house, start putting love into it now. Fix the leaky faucet and get your air conditioner serviced. A well maintained home always sells best.
John Karadsheh is the Designated Broker for KOR Properties. He has been a Multi-Million Dollar producing agent for more than 14 years and is an Accredited Buyers Representative (ABR) and Certified Residential Specialist (CRS). In 2014, John was voted the No. 1 Real Estate Agent in Arizona by Ranking Arizona. You can reach John at (480) 568-8684, or visit his website at www.KORproperties.com. KOR Properties is also the creator and one of the founding sponsors of Mesa Food Truck Fridays.