Home Inspection in Chicagoland Isn’t as Simple as “Pass or Fail”!
Hiring a home inspection in Chicagoland can be even more nail-biting than going to the dentist, doctor, or mechanic. However, the process need not be as anxiety-ridden as people make it out to be. There are basic things about home inspection in Chicagoland that home sellers need to know. As it’s your house that’s up for inspection, homeowners may feel a bit reactive, even if the final inspection report is respectable.
However, it’s important to keep in mind that all homes have dings, issues, and baggage. While some are more slight than others, no home is going to come away with a squeaky-clean home inspection report. Please don’t let the report be a reflection on you, the homeowner. It’s not personal.
There are a few steps you can take to prepare your home, as well as your emotional health throughout the home inspection process. Afterall, it’s not a “pass or fail.”
Home Inspection in Chicagoland - What You Need to Know for Peace of Mind
While home inspection isn’t a pass or fail, depending on the findings it may give the buyer leverage to renegotiate the sale price. While you aren’t obligated to fix anything, the buyer may exit the deal if the home inspection findings are not to their liking. If you want the deal to go through, perhaps it’s in your best interest to address the buyer’s concerns and negotiate the deal after a home inspection in Chicagoland.
After speaking with top home inspection experts in Chicagoland, we’ve outlined what happens during a home inspection and how these outcomes may impact your deal.
First, What is a Home Inspection?
The home inspection process is an element in the longer process of closing a home sale. Usually, the buyer hires a home inspector in Chicagoland to visit the house and perform a visual assessment. Per state standards, the home inspector can observe health, safety, and major structural or mechanical issues.
At What Stage Does a Home Inspection Happen in Chicagoland?
For home sales, the home inspection comes into play twice: once during the seller’s inspection (this is the pre-listing inspection) and again during the buyer’s inspection. The buyer’s inspection happens after the buyer has put an offer on the property and will conclude before closing.
A seller’s home inspection happens before the home is listed. Sellers often choose to have their home inspected before they list the home, so they are aware of what issues must be fixed prior to listing the property. There are various pluses and minuses for home sellers to inspect their home prior to listing it, which we will address later.
As mentioned, depending on the home inspection outcome, the buyer may have leverage to renegotiate their offer or request repairs, depending on the findings.
What Happens During a Home Inspection?
Home inspections generally take about three hours for an average-sized home. From there, it can take the home inspector 4 days to complete the home inspection report. The home inspector will focus on both the interior and exterior of the property, noting structural issues, major defects, and other hazards that can cause safety issues. “Safety” is the operative word here.
Specifically, home inspections in Chicagoland focus on the following:
- Water Damage
- Structural Issues
- Old/Damaged Roof
- Damaged Electrical System
- Plumbing Problems
- Insect and Pest Infestation
- Issues with the HVAC System
Home inspections in Chicagoland do not focus on:
- Cosmetic flaws, such as chipped paint or peeled wallpaper
- Ugly landscaping
- Outdated design
Basically, anything that is non-safety related, such as poor interior design, will not be included in an inspection report.
Although anyone may be present during a home inspection, it’s best that the seller’s real estate agent be there. If there is a major defect, the seller often can recommend an expert in their network to fix the issues right away. As well, the home seller should be present so that they can ask any questions of the home inspector.
Here’s how to Prepare for Your Home Inspection in Chicagoland
You want your buyer to receive a report that is as clean as possible. Likewise, there are several things you can do before you receive the home inspector to your home.
- Clear out clutter in spaces like basement, attic, garage, and crawl spaces. This will help inspectors check for mold or water damage. Anything that an inspector cannot access will be listed as “uninspectable” - and this can delay closing.
- Provide access to the electrical panel, furnace, and water heater.
- Lock up pets while the inspector walks through.
- Make sure light bulbs are working.
- Run water in every sink and bath to check for clogs. Clear clogs as needed.
- Replace filters in HVAC system. Dirty air filters are red flags for the inspector.
- Repair any cracked windows or broken screens.
- Exterminate bugs as signs of an infestation are another red flag.
- Cap unused gas lines, chimneys, and flues to prevent debris and clogs.
- Trim trees that are touching or close to the roof.
Okay, so Should You Get a Pre-Listing Inspection?
Although it’s usually the buyers that coordinate the home inspection, home sellers are prudent to have an inspector visit before listing the property. A pre-listing inspection could make the whole sales process run smoother, so you close faster. If your home has a defect, you want to know before you start the listing process.
In addition, having a pre-listing inspection report, as well as any receipts of recent repairs already prepared for your buyers is very appealing! It demonstrates that the homeowners have fixed issues and cared for the home. Whenever you can remove question marks and potential anxiety and stress about the homebuying process from the seller gives you a straighter and shorter line from listing to sale! Besides, no home seller wants to deal with last-minute negotiations. A Pre-listing can take out that element of surprise - definitely an unwanted thing throughout what is already a stressful process.
Keep in mind that every inspector is different. Even if you have an inspector prior to listing, there is no guarantee that they will make the same observations of the buyer’s home inspector. What may not be seen as a safety for one inspector, may be a big deal from another inspector’s point-of-view. It’s difficult to anticipate what the buyer’s home inspector will turn up. And if you do have a pre-listing home inspection, you are legally required to disclose it to the buyer no matter what is found.
Are you selling a home in Chicago, IL?
This is how a Home Inspection can Affect the Sale
The buyer’s home inspection may reveal a home in great shape, or a home that needs work. Depending on the findings, the buyer and seller may negotiate the contract. Or, they can go their separate ways. This is how these scenarios may play out:
The buyer walks…
If after the home inspection, the home buyer decides to pass then the house will go back on the market. This may impact other potential buyers, as seeing a house back on the market could be a red flag. They’ll wonder what’s wrong with the house and why it’s no longer under contract. This can affect your sales price.
The buyer and seller negotiate…
If the buyer requests fixes or wants to negotiate the contract terms, the seller can either make repairs or extend a credit to the buyer so they can make the repairs themselves. If it’s a health and safety issue, most likely the seller will have to take care of it.
If the seller denies new terms...
The seller can bring in their own home inspector if they do not agree with the buyer’s home inspector’s findings. It is possible that the home buyer’s inspector did not assess the property accurately. If the seller has other buyer’s waiting to make an offer, they may decide to terminate the contract and work with another buyer in the queue.
That’s all There is to it for Home Inspections in Chicagoland
Both buyers and sellers can agree that home inspections are a crucial element of the home buying process. No one wants to inherit a hazardous property, so assessing safety is paramount.
Pre-listing inspections can help home sellers gain home field advantage and jump on any must-needed repairs prior to listing the home. Likewise, when buyers have a home inspected, sellers may prepare themselves for potential repairs or a contract renegotiation.
Your real estate agent can help you throughout the process, from the pre-listing home inspection through closing. If you do decide to do a pre-listing home inspection and a major defect is found, your real estate agent can connect you to their trusted network of handymen and contractors to get the issue taken care of fast so you stay on schedule. As well, your real estate inspector can loop in other home inspectors to follow up on a negative finding from a home buyer’s inspection report.
I hope this guide helped clarify the process of home inspection in Chicagoland. If you have any further questions, please ask them in the comments.
Post a Comment