All homebuyers are prone to overlook major problems during the buying process only to be surprised by them once they have already paid for the property. You can consider hiring a professional home inspector even before signing any contract to avoid any regrets and stress after buying a property.
However, you aren’t required to conduct an official home inspection until after signing the initial contract, so it’s a good idea to learn as much as possible about the condition of the home by having an honest discussion with the seller, and even performing your own ‘mini’ inspection where you can check for basic structural defects or potential problems.
Sellers usually allow prospective buyers to check the condition of the property before any contracts are signed. This can give the buyer some bargaining advantage during negotiation since the buyer is already aware of any damages the property has acquired through time. ‘The Smart Consumer’s Guide to Home Buying’ advocates the use of checklists and taking a note of all known issues regarding the property. The book further explains that conducting an informal inspection is very beneficial to homebuyers, especially those who are considering buying a house that needs renovation.
Create a checklist that you will use in your home inspection. This will help you in taking notes of the general condition and appearance of the house. Below are important issues to include in your notes:
Learn about the age of the home – you’ll want to find out exactly when the home was built, what types of renovations or new construction took place on the home site, and if there are any architect or engineering plans available.
Inspect the house’s foundation – Check if there large cracks around the home and basement. You should also check for water or weather related damages. Ask the seller if the house ever experienced or experiences weather related problems in various seasons.
Check the interior for defects and potential problems – you’ll want to make sure that all doors open and close easily and that all the walls are flat, even and free of cracks. Make a note of any visible cracks or deterioration and take pictures of anything that stands out. You’ll also want to check for mold problems, odors and make sure all water entry areas are clear and functioning properly.
Examine the exterior of the house – Again, look for any obvious defects and potential problems. First, check if all doors and windows open and close easily. You might also want to check if they are properly insulated. Take note of the sidings and see noticeable signs of wear and tear.
Examine the heating and air conditioning system – Query the seller about the average cost of operating these systems in a month. You may need to have a new system in place if the old air conditioning system is already inefficient.
Look at all your notes and create a written report about the condition of the house you just inspected. You may also consider using a digital camera or camcorder to take pictures and videos for a more detailed review in the future. This additional effort may give you an advantage over the seller come negotiation time.