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How to Use Home Inspection Report in Real Estate Transaction

By : John Martino | In : Home Inspections

People familiar with the real estate selling and buying perhaps knows that getting a property inspected by a certified and licensed third party home inspector is a smart decision. Having a home inspection report is important for dealing in real estate. But, once you get your home inspection report at home – do know what to do with it or how can you use the report to your advantage? Here are a few things that you should consider doing with your home inspection report and make it count for the benefits in any real estate transaction.

If you are a property owner looking to sell a home, the first thing that you should do after receiving the home inspection report is get rid of all the issues and fix the defects mentioned in the inspection report. In all probability, you may not be clear about the report’s implications, and therefore you should call the inspector for clarifications. You must be sure that all defects are taken care of before the property is put up for sale.

Another purpose for which you can use the inspection report is to identify the defects in the property that must be corrected before it is occupied. As a matter of fact your decision to buy/sell property should heavily rely on this factor, lest you will be in for a rude shock.

Home inspection report also plays a defining role in determining the actual cost of the property. If the buyer discovers that he/she must get extensive repairs done on the property as soon as he/she moves in – a concession in the price may be asked for. Damaged or leaking roofs that require repair or replacement, faulty or defective plumbing, defective heating or air conditioning systems can affect the price of the property. However, if you maintain such concerns in top-shape, you will certainly get a better value for your property.

A home inspection report can be useful in a number of ways. Read on to find what they are.

  • Prior to purchasing a property, buyers can use a home inspection report to calculate if they actually have the ability to maintain the property and if they can make an immediate investment, post purchasing their choicest property.
  • Home inspection reports will always include undisclosed defects, which are difficult to identify by the buyers. The report can be used for negotiating with the seller to fix the defects before it is sold or make adjustments on the price that has been asked for the property.
  • On the part of the sellers disclosing known defects can improve their reputation and credibility and naturally stand a better chance to get their property sold in minimum time.
  • A very good use of home inspection report for buyers is a punch list or a list of things to do for maintaining that property once they purchase it.
  • This report can also be used to communicate with builders and contractors for getting an estimation of expenditure for repairing and maintenance of the property.

A home inspection report not only mentions the defects but also suggests the best possible ways to fix them up. Since, the home inspection is conducted by ASHI Certified Home Inspector both property owners and buyers can rely on their suggestions to maintain their properties to optimal conditions, and this is certainly one of the most important use of home estate reports in any real estate transaction.

John Martino (64 Posts)

LookSmart Home Inspections, LLC is owned and operated by John Martino. He has successfully performed over 3000 inspections for clients throughout northern and central NJ and has an exemplary track record of customer satisfaction. Mr. Martino completed a 300-hour approved NJ Home Inspector training program and was mentored by one of the most respected names in NJ home inspections. He continues to attend over 30 hours of continuing education classes each year.

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Buying a house is one of life’s biggest decisions. Before you close, you’ll want a professional inspection of the house to ascertain its true condition. John Martino is a formally trained New Jersey home inspector and member of the American Society of Home Inspectors...ReadMore