The real estate transaction process is one that can create a lot of anxiety in either a homebuyer or someone selling a home. Between all the forms that must be filed, the deadlines that must be met and holding your breath as the closing date approaches, buying a home will be one of the toughest, most significant things you’ll do in your life.
That’s why it’s so important to make sure that you do every last bit of research you need to complete before finalizing the sale. Much of this will revolve around the home inspection; you know how much the property is listing for on the market, but how much extra money will you need to put into it once it’s yours?
The question often arises during the real estate sales process: Who is responsible for making sure that a home inspection is completed? Prior to a sale, a house should be thoroughly inspected to make sure that no code violations are passed on to the next owner. But is it the prior owner’s legal responsibility to check for violations or issues, or is that the buyer’s liability?
The real answer is that either side will benefit from having a professional service come in and locate any cracks in the wall or utility issues that can cost thousands of dollars to repair. For a homeowner who is selling, this home inspection allows them to advertise their home price as “move-in” or “turn-key ready.” As this article from The Valley News indicates, this means that a homeowner’s real estate price really is the bottom line of what a homebuyer will have to pay without any costly repairs. It’s recommended that much of this work takes place before a home is listed.
As a homebuyer, you can protect your interests by having your prospective next home inspected before you agree to buy. This will help a buyer uncover any needed HVAC, plumbing, basement or electrical system issues, allowing them to negotiate a better price.
The rules regarding home inspections are sometimes vague and difficult to understand, but a good rule of thumb is to always make sure you have all possible information. If you’re planning to jump into Washington State’s real estate market, give Above & Beyond Inspections a quick call. We’ll be happy to help you find all the important information you need for your prospective real estate transaction.