The last minute discovery of a home defect can send everyone into crisis mode. Inspections should be scheduled in sufficient time to have repairs made prior to closing.
As stated in the standard purchase contract form published by the Tennessee Association of Realtors. “All inspections/reports are to be made at Buyer’s expense, including those required/recommended in the Home Inspection Report, unless otherwise stipulated…” Other salient points include: “Buyer waives any objections to matters of purely cosmetic nature disclosed by inspection… The inspection report is not to ascertain the cosmetic imperfections of Property or other items that Buyer has already considered, or should have already considered in determining the purchase price.”
Of course, the buyer may make an offer accepting the property “as is”, with any and all faults and no warranties expressed or implied; in which case the seller has no obligation to make repairs.
On the other hand, the buyer who requests repairs should furnish the seller with a copy of the inspection report and a list of items noted in the report which the buyer requires to be repaired and/or replaced. Suggested items of an inspection include the following:
• Siding: Dents or buckling
• Foundations: Cracks or water seepage
• Exterior Brick: Cracked bricks or mortar pulling away from bricks
• Doors and Windows: Loose or tight fits, condition of locks and weather-stripping
• Roof: Age, condition of flashing, pooling water, buckled shingles, or loose gutters and downspouts
• Ceilings, Walls, and Moldings: Loose pieces, drywall that is pulling away
• Porch/Deck: Loose railings or steps, and rot
• Electrical: Condition of fuse box/circuit breakers and proper grounding of outlets in each room
• Plumbing: Sufficient insulation, poor water pressure, banging pipes, rust spots or corrosion that indicates leaks
• Water Heater: Age, size adequate for house, speed of recovery, energy rating
• Furnace/Air Conditioning: Condition and serviceability
• Garage: Condition of interior and exterior, safety issues, and proper installation of door mechanism and openers
• Basement: Water leakage, musty smell
• Attic: Adequate ventilation and insulation, water leaks from roof
• Septic Tanks (if applicable): Proper operation and testing of system
• Driveways/Sidewalks: Cracks, heaving pavement, crumbling near edges, stains
Buying or selling property is a complicated proposition. You need a professional – someone to answer your questions and guide you through the process. Someone who adheres to a strict code of ethics. So, make sure you’re working with a Realtor.
Courtesy The Commercial Appeal Advertising Department.
Stay Connected
No comments:
Post a Comment