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GAZETTE Newspapers
By: Arthur S. Lazerow
Home Inspections for Buyers and Sellers
Over the years, we have received many questions about
home inspections and home inspectors. Questions typically focus
on what a home inspector does and does not do and questions
about errors and omissions insurance, qualifications and the
occasional horror story about an inadequate inspection.
During 2005, most horror stories were from buyers who waived
their right to have a pre-purchase home inspection only to find
a major deficiency within the home after settlement. This
year’s market has shifted towards a buyer’s market, with more
homes available to sell then since 1999 and length of time “on
the market” stretching into months rather than weeks. This
allows purchasers to include a home inspection contingency with
their offer. Home inspectors around the metropolitan area are
reporting that they are performing significantly more
inspections this spring than last year.
Two recent questions from readers caught my attention. First,
Jane from Gaithersburg emailed: “Arthur, I have just bought a
house and have a home inspection contingency. I would like to
attend the home inspection, but I know the sellers and the
listing agent are going to be there and I am afraid it will be
too crowded and confusing. How should I handle this?”
Answer: Your question raises two issues: your attendance and
interference from the seller’s side. Not to worry, Jane. The
two to three hours of the home inspection is the time to
concentrate on your prospective new home with your home
inspector. It is critical that you attend the inspection. The
education about your home provided by the inspection will permit
you to move in with confidence that you understand your home.
You will know that if there is a flood, how to turn the water
off; if there is an electrical problem, how to turn off the
power; how and when to replace your furnace filter; how to
operate the equipment in the home; and much more.
The seller will not interfere with your home inspection,
although occasionally an owner attempts to influence the
inspector. Years ago a seller told me about his new roof, but
when I looked up, I could plainly see pitting and tears and
missing shingles. This simply made me more suspicious.
Ask your Realtor to handle the seller and listing Realtor.
Knowledgeable Realtors representing sellers typically tell their
clients to leave the home for the period of the home
inspection. Especially in the current market where sellers are
apprehensive about the sale, most sellers will be cooperative.
Also, most experienced home inspectors know how to handle an
overbearing seller.
In short, attend your home inspection and let your Realtor and
inspector protect your interests.
Question 2: Sarah and Greg from Hyattsville wrote “We are
getting ready to sell and our neighbor advised that we have a
home inspection before we put the house of the market. Is this
a good idea? How much does it cost and can I then sell it to the
buyers?”
Answer: Smart neighbor! A pre-listing home inspection for a
seller is uncommon, but it does provide an excellent value to
the owner. First, having the deficiency list from the home
inspector will permit you to make repairs with no rush. You can
obtain prices from competing contractors, which ultimately will
save you money.
Even if you decide not to make a recommended repair, at least
you will know what the buyer’s inspector will find. Discuss
this with the Realtor you chose to handle the listing of your
home for sale and consider including this as an “as is” item, so
the buyer knows what he or she is getting and you will not have
to spend money on the repair. The down side is that the sales
price may be adjusted downward, since the buyer accepts
responsibility `for this condition.
Knowledgeable home inspectors will also look at the condition of
the home and how it may impact your sale. Sellers have two
objectives: maximize price and minimize time on the market.
Sellers tend to be unrealistic about the condition of their
home. Having an unbiased picture can set the stage for a
successful transaction.
A typical home inspection fee is in the $300-$400 range
depending on the size of your home, its complexity and its
value. And finally, no, do not expect to sell it to the buyer.
The great majority of homebuyers will desire to select their own
inspector, who will have a fiduciary obligation specifically to
them, not to you. But having the initial inspection report
available for prospective purchasers to view during the listing
period tells a positive story about your seriousness as a seller
and will be a real plus in the overall transaction.
Have a question relating to a housing or environmental issue?
To contact Mr. Lazerow, click on “Contact Us” at
Albaninspect.com. Mention “Gazette Newspapers” in your
question. Every question will be answered and some will be
included in this column.
Arthur Lazerow, president of Alban Home Inspection Service,
Inc., is a nationally certified ASHI home inspector, having
performed more than 6000 inspections during the past 12 years.
He is on the ASHI Public Relations Committee and is accredited
by the Maryland Association of Realtors as a public speaker. He
is also certified to perform mold, water, septic and radon
investigations.
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