Your Phoenix home Inspection has been completed, Now What
Often, after I am done with the home inspection, they buyers will ask me, now what? Do they have to fix everything that is wrong? Do we? Can we ask for the price of the home to be reduced to cover the cost of the repairs? There is no one easy answer.
I say, the first you need to read the home inspection report and make sure you understand the issues before you ask for anything. Notice I said read the Phoenix Home Inspection Report not just the summary, it is very possible there are issues that the home inspector identified that are not in the summary. Some home inspectors will not put minor issues in the home inspection summary so the summary is shorter and it appears there are fewer issues that there really is. Therefore, you need to read the entire report.
Understand that there are several items that commonly show up on Phoenix home inspection reports
If you have questions, contact the home inspector and ask. Most inspectors will be happy to discuss the home inspection report with you.
If the report says you need to have a licensed contractor come out and evaluate the issues and perform repairs as needed, Ask the inspector and your agent if they know someone that can check out the issues and prepare an estimate. Some inspectors think it is wrong to refer contractors, I do not. It is only wrong if the home inspector is getting paid to refer the contractors, that would be a conflict of interest.
How to handle the results of your Phoenix Home Inspection
- There are a few ways to address items identified in your Phoenix home inspection report. (These are listed in no specific order)
- Accept the property “AS IS” and perform repairs yourself or hire your own contractors to do so. (This may be your only option with some bank owned properties, however, It doesn’t hurt to ask for the repairs if it is a major issue like the roof needs to be replaced or the AC unit is missing.)
- Ask the seller to perform repairs. This is typically done on a official real estate document called a BINSR (Buyers Inspection Notice and Sellers Response). Your Real Estate agent should be able to assist you with this.
- Try and renegotiate the price of the home so you have the money needed to purchase the home and make repairs.
- Go with a home improvement loan like the FHA 203K to wrap the cost of repairs into the loan.
- Combine any of the above methods, for example ask the seller to replace the roof but decide to handle the Air Conditioning yourself so you can install a more energy efficient unit. (It is not uncommon for buyers to ask sellers to take care of termites and rotten or damaged wood and handle the smaller issues themselves)
- Walk away from the deal.
Who should perform the repairs after the Phoenix Home Inspection?
Now that you have read and understand the home inspection report, decide what you can take care of yourself and what you would like the seller to correct.
There are two different schools of thought in this area. Ask the seller to fix it, or take care of the issues yourself.
If you ask the seller to fix it, they choose who does the work and they will likely go with the cheapest method. You will be able to move in to a home that has been repaired but you will have no control over who did the repair, or how they did it.
I recommend if you opt for the seller making the repairs you ask for copies of all invoices for the work performed, you ask that wll work be performed by licensed contractors, and you have someone confirm the repairs were performed.
Some Phoenix home inspectors will perform re-inspections. Most inspectors charge a fee for performing a re-inspection and that fee can vary greatly. (It is a good idea to ask about the re-inspection policy when you are deciding on your Phoenix home inspector.) It is also important to note that while the inspector may be able to tell if work has been performed, they will not be able to guarantee the work was done properly or that it will hold up. There are two reasons for this;
1: The contractor did the work so they are responsible for it.
2: The only way for a Home Inspector to verify most repairs are done properly is to be there while it is being repaired or tear the item apart and put it back together. (This is not likely and depending on the issue may be prohibited by the Arizona Registrar of Contractors.
The Final Walk Through
During this walk-through you should make sure that there are not any fresh problems or damage was not present during the Phoenix Home Inspection. The walk-through is significant because often there is a fairly long period of time between the home inspection as well as your closing date In addition, damage may have been concealed or additional damage may have occurred when the seller was moving out. It is a good idea to check all walls, floors, windows etc. A list regarding maintenance tips is available at our web site.Google+