Real Estate Matters

By Frazier Hughes

Executive Summary:

Introducing our newest periodic column on what’s been a hot market locally in recent times.

Frazier Hughes is with Keller Williams Realty. Reach him at frazierhughescom@ gmail.com

Why a home inspection makes sense

Do you want a home inspection? Most people do and I would suggest it regardless of whether you ask for repairs or not when it comes to purchasing a home. Not everyone asks for a home inspection. It depends on the house, the situation, and the client.

For example, a client could walk into a home, see it’s in good shape, well taken care of and brings in a family member who is a contractor who says everything looks good and they waive the home inspection. A home inspection is not required for any loan. It is for your safety, protection, and peace of mind to make sure what is usually the largest purchase of your life is in sound condition. Inspections include the home inspection for radon, termites, and if the house has it, a well, septic, sewer infiltration system, and dock or any additional structures asked for by the purchaser.

In The Virginia Real Estate Contract, it reads and covers these areas of the home: “This Contract is subject to the Purchaser having the home inspected. The purpose of the home inspection is to discover defects. The term “defects” (Defects) shall be defined as any of the following: (i) that the plumbing (including well, well pump and septic system, if any), heating, air conditioning (if any), electrical system and appliances are not in safe working order; (ii) that there are structural defects; and (iii) that the roof leaks. Cosmetic items, grandfathered systems or features that are properly functioning that would not comply with current building codes if constructed or installed today shall not be considered a defect. The fact that a structural element, system or subsystem is near, at or beyond its normal useful life is not, by itself, a defect.

The home inspection and any subsequent inspections shall be at Purchaser's expense and shall be limited to the primary dwelling. Failure to complete the inspection(s) within the specified time period shall forfeit the Purchaser's right to conduct inspection(s). There are also termite, radon, and dock (if you live at the lake) inspections as well.

Depending on the age and condition of the house you can ask for $1,000 and up for a remediation limit in repairs if both parties agree. Remember the seller is not obligated to make repairs, and if they will not this gives you the opportunity to back out of the contract to purchase the home. To make their offer stronger some buyers will ask for a home inspection but no repairs with the opportunity to back out. Either way, it’s a great idea to have an inspection for peace of mind.