If you’re a Buyer whose offer has just been accepted, we would not be surprised to find you swinging from a chandelier, tequila in hand, celebratin’. But before you go blazin’ trails with your DIY skills or buying that dream sectional that can fit all yo’ mates, there’s one obstacle that you need to conquer before the house is truly yours: Inspectiongate.
As the Buyer, you’ll hire a licensed property inspector (hire = pay). Don’t know one? Don’t worry, we got you. Their main purpose is to peel back the onion’s layers: to highlight current and potential future concerns. This will take a few hours, and the report you’ll receive a few days later reads like War and Peace. You do not need to be present during the entire inspection, in fact it’s best if you stay out of their way. But, showing up towards the end to ask a few questions and get the Cliff’s Notes is a good idea.
The inspection report will make you think the house you are buying is going to fall down tomorrow. It is the inspector’s job to find flaws, so it’s best to review the inspection report with your agent before you get yourself all in a tither. Experienced agents and contractors are the best resources to help you determine what are legitimate concerns in the big picture. For example, if you’re getting a really good deal on a home, your agent would likely advise you not to bother the Seller for small fixes, however if you are paying top dollar and discover serious flaws, your agent can guide you on how to run from that property like a scalded dog. Like Gandhi once said, “you’ve got to know when to hold ‘em, and know when to fold ‘em” and you’re better off backing out of a contract than getting stuck with a money dumpster if the Seller’s not willing to budge on repairs.
And hey, if it doesn’t end well just remember there is another house out there for you. Your only disability is a bad attitude!