Finding that perfect home can be quite the task, but getting under contract begins a whole other process. Now that you and the sellers have agreed on a price, you would be wise to order a home inspection. Your REALTOR® can help by providing several choices for an inspector.
As a Buyer, you have the right to an inspection of the property prior to closing. Once inspected, you then have the right to object to any conditions that are brought to your attention. You may either ask the seller to fix them, or you may terminate the contract. It's important to know what to look for because, after closing, you own any problems with the property.
What many buyers don't know is just how many inspections are available. Below is a list of options you may want to consider before you close. Your choices will depend on the age, condition, and location of the home. Let's cover just a few.
The purpose of the home inspection is to determine the condition of your home. One usually runs between $300-$400. Price is based on age and size of your home and is pretty much a top to bottom inspection of the home. Be sure to ask your inspector what they include in the overall package.
The purpose of the radon test is to determine if your home has unsafe levels of radon gas within it. It is worth the extra money to determine if there are unsafe levels of radon seeping in from the ground. This test usually runs $130 and takes over 48 hours to complete.
Sewer Line Scope
The purpose of this test is to see if sewer lines are obstructed, cracked or outdated. You will want to make sure the line is working properly as the cost to repair and tap into the city main line can be very expensive. This test usually runs about $150 and most plumbers will provide a digital recording as your proof that it is working properly.
Lead-Based Paint Assessment
This test is a good idea for homes built prior to 1978 due to the fact that paint manufactured during that time contained lead. Lead poisoning could be potentially fatal to young children if swallowed. A test usually runs $300.
Meth Lab Test
If you think that your home was used to manufacture methamphetamine or it was disclosed to you that this has occurred, it is a good idea to order this test. One usually runs $600 for whole house or $1000 for specific area testing.
You can also see if your home contains dangerous mold which can form in basements or bathrooms and kitchens due to the high moisture content in those areas. This type of test usually runs $300.
The list of tests goes on but these are the most common and will address some major issues. Be sure to check with your lender if you are financing as they may be required in some cases. The main thing is to protect your investment and your family. You will be glad you spent the extra dollars should something be discovered that could be very expensive to repair.
*prices above are an estimate and may vary