Why Your Home Inspection Matters

 Home Inspection Matters

Why do home inspections matter?

A home inspection contingency allows buyers to learn about major and minor issues with a home before purchasing it. Many lenders won't offer financing on a home without an inspection. Home inspections can uncover potentially life-threatening problems like mold or faulty wiring that could cause a significant fire. Major defects, such as a structural failure; conditions that can lead to major defects, such as a roof leak; issues that may hinder your ability to finance, legally occupy, or insure the home if not rectified immediately; and. safety hazards, such as an exposed, live buss bar at the electrical panel.

The real estate law in Colorado is designed to protect both the Buyer and the Seller. This is most evident in home inspections. In the real estate contract, it is spelled out that the Buyer has the right to have a professional inspection of the following systems:

  • Roof, walls & structural integrity
  • Electrical, plumbing, HVAC and other mechanical systems
  • Physical conditions of any inclusions of the contract
  • Services to the property including utilities & communication services
  • Any proposed or existing transportation project, road, street or highway
  • Any other activity, odor or noise on or off the property and its effect or potential effect on the property or occupants

While the overall process seems clear, it is often emotional and can get tense. The property is the Seller's personal home, and the Buyer is pointing out problems. Granted, some buyers nit-pic just to get a better price, but most are just trying to minimize the money and time they will have to spend once in the house. Sellers on the other hand often feel like Buyers are asking for too much and will start questioning whether this was the right offer to accept.The process can be problematic.  Your realtor will be there to explain the process and be a go between.  Working with a realtor is your best bet.

Lamont "Ben" Orr - The Orr Team eXp Realty 720-425-3365

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