Six Problems That Can Appear When Real Estate Buyers Conduct a Home Inspection
Buying a home is too important for you to finalize the purchase without inspecting the home first. Finding major problems with your new home after you have moved in may force you to pay for expensive repairs or leave you stuck in a flawed home. Most real estate contracts include a home inspection contingency clause, which gives the prospective buyer the right to hire a professional home inspector and to cancel the contract if the inspection report concerns them. The buyer should at least be aware of the problems so they can be factored into the selling price. Here are six parts of a home inspection where problems can arise:
- Foundation and Basement: A weak foundation can threaten the stability of the home. Signs of foundation problems may include cracks in the foundation or moisture in the basement, The foundation problem could be something that can be repaired or may be caused by the land the house was built on.
- Roof and Attic: Missing tiles or dark spots could be a sign of a weak spot or leak in the roof. Even if the roof is not currently leaking, it may not be long before the weak spots become leaks unless they are repaired. The extent of the existing damage may determine whether the roof needs to be reshingled or replaced.
- Electricity: An outdated electrical system can be dangerous and expensive to repair because it will require tearing into walls. Signs of a weak electrical system may include light switches that do not work and insufficient power for operating appliances.
- Plumbing: An old or weak plumbing system can also be an expensive fix and cause extensive water damage if not addressed. Signs may include leaks and poor water pressure.
- Drainage: Gutters and downspouts should be attached and directing water away from the home. A poor drainage system can cause water damage to multiple areas of the house.
- HVAC: Proper heating and cooling are more than issues of comfort. An inefficient HVAC system can raise the cost of your energy bill.
Contact a Fairfield County Residential Real Estate Attorney
Finding major damage or needed repairs during a home inspection should affect your final decision on purchasing the home and what price you are willing to pay for it. A Stamford residential real estate lawyer at the Law Offices of Daniel P. Weiner can advise you during your real estate transaction and make sure your contract protects you. Schedule a free consultation by calling 203-348-5846.