The Home Inspection Is A KEY Buyer Consideration
Don’t Buy a Home Without One!
A Home Inspection – there is only one thing to say about a Tucson Home Inspection – Don’t Buy a Home without one!
The first clue that a home inspection is important is that it’s a contingency in your offer to buy a home. Section 6 “Due Diligence”.
The real BIGGIE is that a home buyer can cancel an offer to buy a home “for any reason DURING the inspection period”. That is in Arizona, anyway.
Under that situation, the buyer’s earnest money gets returned. No questions asked.
What Does the Home Inspection Cover?
A Tucson home inspection gives a home Buyer detail on the condition of the home they are about to buy. The Tucson home inspection report identifies conditions that need repair.
Also, a home inspection can expose hidden health and safety issues that exist within the home. Every home inspector will provide a written report on what they found.
The home inspection report identifies steps taken and any limitations effecting findings.
The home inspection report will cover all major systems in a home and appliances.
Major systems include:
- foundation,
- electrical,
- roof,
- A/C, heating,
- and plumbing.
The home inspector also will check the operation of the
- stove,
- oven,
- and dishwasher.
And the home inspector will make observations on the general condition of the structure and other items.
Most Tucson Home inspectors take photos of any items they identify as needing repair. They will describe the condition and actions to repair the item.
The Inspection Report describes the condition of the home in the inspector’s view.
When a buyer is at the inspection, the inspector will review the Inspection Report with them.
The Inspection Is Done….Now What?
Upon receiving the Tucson home inspection Report, the Buyer has 3 courses of action.
1- Accept the home without requesting any repairs and proceed to closing.
2 – Reject the home based upon the issues raised by the inspection.
3 – Formally request the seller to make stated repairs to the home.
When The Buyer selects #3
We will prepare the “Buyer Inspection Notice Seller Response” form. Known as the “BINSR“. It identifies all repairs the buyer wants the seller to make.
The Seller now has 3 options:
1 – Agree to make all requested repairs and proceed with the sale.
2 – Agree to make some, but not all, of the requested repairs.
3 – Refuse to make any repairs.
Should the Seller select either option 2 or 3.
The Buyer now has TWO (2) options.
1 – Cancel the contract due to the Sellers not making all repairs
2 – Accept the Seller not making repairs and proceed with the purchase.
While this process sounds complicated it is actually straightforward.
The Arizona residential purchase contract sets forth all standard timelines. But if agreed to, the buyer and seller can agree to change them.
We are, of course, there to explain and review the options available in each step in the process.
In Arizona a home inspection occurs when a buyer makes an offer on a property and the seller accepts the offer.
The buyer has 10 days to hire a home inspector and complete all inspections.
Once agreed upon, the seller is to complete all agreed to repairs before close of escrow. The seller must also provide paid receipts for the repairs to buyer 3 days before the close of escrow.
But sometimes contractor scheduling gets in the way of meeting the deadline. And sometimes Buyers want to close escrow before the seller completes the repairs.
There are many reasons for this, but it is never a good idea to do it.
So, what are the risks?
The Scenario:
After the home inspection and BINSR submission, the Seller agreed to complete a roof repair requested by the Buyer.
But due to scheduling, the roof contractor could not complete the repairs before the close of escrow. But the buyer still wants to close on time and move in.
So what do they do now?
The seller purposes, and the Buyer agrees, a perfect solution. The seller will pay the roof contractor’s invoice to repair the roof at close of escrow. Making the payment from the proceeds from the sale of their home.
Then the contactor will complete the repair after the close of escrow.
The Seller asks the roofing contractor to submit an invoice. The key point here – it is not a proposal!
Sounds like a good plan, right? WRONG!
Almost all the risk is on the buyer with this plan of action.
What are the risks?
For one, the roofing contractor gets paid at close of escrow. Before completing the work
Since the contractor has the money, they could delay the repair work. They might schedule new work ahead of the buyer’s home. Remember, the work is already paid for.
The contractor might not complete the job or not complete it in a workmanlike manner.
NOTE – Seller and Buyer could agree to an “escrow hold-back” at close of escrow. The escrow company holds the funds. In this situation, the roofing contractor would not be paid until the repairs were completed to the Buyer’s satisfaction. Any cost over runs would still be the Buyers responsibility.
DANGER!
The job needs more work to complete. More than the contractor got paid. These added costs will be the Buyers responsibility.
Our recommendation is ALWAYS wait for the repairs before closing escrow.
How? The simplest way is for the Buyer and Seller to extend the close of escrow date. This allows the work to get done AND the Buyer to do a final inspection or “walk through”.
Other Property Inspections That Buyers Should Consider
Tucson Termite Inspection and Tucson Roof Inspection also provide valuable information to the Buyer’s purchase decision. Some Buyers want to have Tucson Radon Inspection or Tucson Mold Inspection.
If suggested by the Tucson Home Inspection a Tucson Structural Inspection or Tucson Pool Inspection may be required.
Should the property have a septic system a Tucson Septic Inspection will be required.
Each Tucson home inspection follows standards established by the American Society of Home Inspectors. These standards are adopted from the American Society of Home Inspectors (ASHI) 1992 Standards of Practice.
Considering A Home In Tucson, AZ?
Are you thinking of buying a home in the greater Tucson area? Finding the right home can be a challenging process. But we can make the process much less stressful for you.
We have been Tucson Realtors since 2002. We know Tucson and the Tucson Real Estate market. As a top Realtor duo, we invest the time to understand your home buying interests and desires.
At our first meeting, we will review the current real estate market with you. Show you the market data and then walk you through the Arizona home buying process.
Why? We want you to know what to expect. And what to plan for.
Interested in new construction? We’ll brief you on buying a new construction home. And what’s unique about the process. And even though it is new construction, we recommend you have a home inspection.
For us, you are not another real estate transaction. You are a client and, future friend. We strive to create a relationship that continues long after you move into your home. Review our profiles. Check out our backgrounds, education, and certifications.
We are here to help you “know what you need to know” to buy a home in Tucson, AZ. We provide you information on Tucson events, places to shop and restaurants. Our resources include contractors, electricians, and home services.
We will also help you get deals on tile and paint to make the home you buy yours. Our professional service backgrounds mean we put you first!
Conclusion
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Our website provides information on communities and neighborhoods in the greater Tucson area. Want more? Give us a call – 520-940-4541.
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