Once a contract has been signed by both parties, you will need to schedule a home inspection immediately. Legally, we are not supposed to schedule the home inspection for you, but we will want to be there for the appointment.
The home inspection period is contracted to occur within 7-10 business days after the contract is accepted. Ideally, the inspection should occur within the next 2-3 days, allowing the inspector time to write their report and us more time to review it. Inspectors usually only work during the weekdays and do not work evenings or weekends, so you will probably need to arrange to be off work for the inspection. As soon as you have an inspection scheduled, please let us know so that we can coordinate it with the seller’s Realtor. The seller will need to be sure the home is showing-ready. You will also be required to pay for the inspection by check or credit card. Please keep the receipt to send to the lender or present on closing day.
We will meet you at the home. It should take about two hours for a condo and three hours for a single-family home. Wear comfortable clothes which can get dirty as the inspector may want to show you something in the basement, on the roof, etc. This is our chance to really get into the house with a professional and ask questions about any concerns you may have. The seller will not be present during the inspection.
Once the inspector has completed their report (usually 1-2 days following the inspection), we will review it in careful detail. Inspection reports will usually cite the condition of the home and breakdown down issues by priority such as 1) health and safety, 2) significant deficiencies, and 3) maintenance issues. It is up to you which issues you would like to be addressed. To understand their cost, we may need to seek estimates on repairs. Keep in mind that any repairs or remedies that you request should be within reason. If you expect the seller to bring an older home into brand new condition, you can expect to be met with resistance which may kill the deal.
By contract, we will typically have three business days from the time the inspection period ended to submit any requested repairs or remedies to the seller. After we have submitted a request for any repairs or remedies, we will typically have three days to come to an agreement with the seller. If no agreement can be reached, we will have three days to accept the terms or terminate the contract and your earnest money will be returned to you. If we’re able to come to an agreement, any agreed upon repairs will need to be completed by the seller prior to our final walk through. We will walk through the property, usually the day before closing, to ensure any repairs or remedies have been completed. In addition, we will be provided receipts showing the required work was completed and paid for in full prior to the walk through. Your contract will specify time allowed and deadlines for each action.