What are they and why you should get one.
Are you ready to purchase your next (or first!) Northern Michigan home?
We strongly encourage you to think about getting a home inspection.
After you’ve toured a home and made the decision to write an offer, one of the first things your agent will talk to you about is whether or not you want to get a home inspection.
In the recent, pandemic market, we’ve seen lots of buyers declining a home inspection thinking it would make their offer more appealing. While this may be the case, it is very dangerous for the buyer to do this.
Home inspections offer the buyer a thorough look at the home they wish to purchase (beyond the initial walk through). Using a licensed inspector, buyers can learn things about a home that may want them to “walk away” from the deal. Inspectors can also put minds at ease about potential issues.
The purchase agreement has default language regarding “Property Inspections”. This language allows the buyer the opportunity to inspect a home or property within ___ “so many” days after an agreement is reached. It also allows a buyer the opportunity to waive their desire to have an inspection.
Buyers do not have to be at the home inspection but it is a good idea for them to be present. Going to the home inspection for at least a part of it allows the buyer an opportunity to ask questions they wouldn’t otherwise know to ask.
Inspections typically take several hours and look at plumbing, electrical, roofing, and the foundation. In Northern Michigan, homes typically have a well and can have either septic or sewer. (Though homes in Petoskey and Harbor Springs, have city water.) Inspecting for septic and wells typically comes at an additional fee. Some lenders require the septic to be marked, inspectors will also do this for an added fee.
All told, home inspections will cost typically not more than $500 but the cost depends on add-ons (radon, lead-based paint, water quality, mold, etc.) and the square footage of a home.
Part of the cost of a home inspection almost always includes a professional report. Northern Michigan inspectors will email you a nicely organized inspection report including photos and a summary of potential issues. Sometimes they can even recommend a cost to repair those items. And often, those reports are sent on the same day as the inspection.
Buying a home has the potential to be the single largest investment you’ll ever make. So you want to be sure you’re getting what you’re paying for. An inspection is one of the best ways to ensure that happens. Ask your Coldwell Banker Fairbairn Realty agent for more information on home inspections.
Want to chat with one of our agents? Send us a quick message!