Dennis breaks down 4 common myths when it comes to Home Inspections here in the San Francisco and Silicon Valley markets.
- Not all Home Inspectors are equal - Just because a person holds a license, it does not mean they are exceptional at what they do. We hire our inspectors based on experience and track record. They understand the type of home, the neighborhood and communities they work in and can identify issues quickly with a degree of certainty.
- A Home Inspection is not a Home Valuation - Home Inspectors only give you a health check-up on the home. Things that need or should need repairing, or items which need to be brought up to code. For sellers, we can get a pre-emptive inspection and address all problem areas before an actual home inspection, and for buyers, a home inspection provides an additional layer of transparency to the property they are considering purchasing.
- Buyers do not usually pay for the Home Inspection - In San Francisco and Silicon Valley, we try to be as transparent and open about the property as possible. This leaves zero doubts to what the buyers will be buying and encourages aggressive non-contingent offers. As a result, when working with our buyers, we are placed in the opposite situation where we must anticipate other bullish offers and write one that's clean and attractive enough to the home sellers. However, in our Los Angeles office, it is still rare to find home inspections completed by sellers. It is often the buyers' responsibility to order one during the escrow process. We are seeing a slight shift in some Los Angeles markets, but for the greater whole, the sellers do not regularly purchase a home inspection as part of their disclosure process.
- Home Inspections are not a license to re-negotiate on price - Finally, if a home inspection report displays 'minor' items such as outdated electrical, squeaky floors, or even small termite issues we typically recommend accepting the damage and writing an offer as if the house was perfect. The only conditions that would justify a reduction in offer price are major items such as Section 1 damage, roof replacement or clear and necessary foundation damage. Otherwise, the job of a Home Inspection report is to inform and educate a home buyer and an incentive to write cleaner offers.
Hopefully, you found this informative. If you have questions or require a great home inspector leave a comment or contact us today!