Receiving and accepting an offer for your property is an exciting step toward closing the deal, but unless the property is listed “as-is,” most offers to purchase will be contingent on the house successfully passing a home inspection. While homeowners can do a lot in terms of maintenance, repairs, or cosmetic updating, a home inspection may reveal minor issues that could become major concerns down the road. What are some of the red flags that could shut down your deal?
Water damage to a structure is far and away the most destructive and costly, and any evidence of leaks can indicate foundation issues, rot in the structure, or even problems with mold in the home. Inspectors will check the foundation, windows, and doors for any signs of cracks, shifting, or settling, and even things like the way the yard is graded can help them assess if water issues are a consideration. Making the necessary repairs to fix problems with water in advance of listing can save you time and money in the long run.
According to the National Fire Prevention Association, municipal departments responded to an average of about 45,210 home fires annually between 2010 and 2014 that were caused by electrical failure or malfunction. These fires resulted in injuries, loss of life, and almost $1.5 billion in direct property damage, so it’s logical to understand that electrical integrity in the home will be an important factor to inspect. Unfortunately, many “arm-chair repairmen” and under qualified homeowners take it upon themselves to make electrical changes and repairs, and these often un-permitted fixes can result in problems for buyers. Also, checking local code requirements for electrical panel improvements can save you the time of a replacement later on.
The age and condition of the structure’s roof might be a problem if the materials are nearing their warranty expiration, or if the roof is showing signs of wear. Shingles are expected to last 20-30 years in most climates, but in areas that experience extreme conditions, like Florida, that timeline drops to about 15-20 years. Also, if there are any dips or valleys in the surface of the roof, it could indicate a leak or rot in the decking. Your local assessor’s office can provide details about the last time a permit was granted for roof work on your structure; if it’s been too long, buyers might be prevented from acquiring property insurance until it’s been replaced.
During a home inspection, all major systems are examined and observed, and this includes everything about your plumbing, from hose bibs on the exterior to the kitchen sink. Any leaks, poor water pressure, corroded pipes, blocked drains, or even outdated, problematic materials like polybutelene can raise a red flag and cost you time and money if they aren’t properly repaired or replaced. Don’t let a little drip give your buyers a reason to drop their offered price, or the entire contract altogether.
Selling or buying a home is likely one of the largest transactions a family is going to make, but most people lack the knowledge needed to find serious issues in the home that could become costly problems in the long run. If you’re looking for some insight into what a home inspection could mean for your sale or purchase, contact us today for more information about how the team at Win Win Fast Property Solutions can help.
The knowledgeable team at Win Win Fast Property Solutions has the experience local homeowners need to resolve their real estate issues with ease and confidence. Contact us today to learn more about our services and to see how we can help you!