Why I Love Home Inspections (and You Should Too!)
A home inspection is one of the most valuable tools in the home buying process. It allows you to examine the physical condition of a home or condo. When you're touring properties with your Realtor®, many of the property conditions on the surface can be obvious. But, we don't always know how damage was caused or what to expect in the long run. A home inspection in Maryland not only provides you with knowledge about the condition of the property, but it can be a safety net in your purchase agreement.
Who can do a home inspection in Maryland?
In Maryland, only a licensed home inspector can perform an inspection. Maryland views a home inspector as "an individual who is licensed by the Maryland Commission of Real Estate Appraisers and Home Inspectors to provide home inspection services". A home inspection in Maryland means a written evaluation of one or more of the components of an existing residential building, including:
exterior and interior components
or any other related residential housing component
For more information on licensing requirements or to search of an inspector that is licensed visit the Maryland Department of Labor, Licensing, and Regulations website here.
Home Inspections are an educational experience
During the inspection, you'll have an opportunity to walk through the home with a licensed inspector and learn about the condition of the property. I love attending home inspections with my buyer clients. Every time, I learn more about a home and how minor and major issues could effect the property over time. I feel like I'm on one of those home improvement shows you see on TV. Inspections are full of information, recommendations, and so much more.
Inspections with Ocean City, MD condos
Condos can be a shorter process to complete an inspection. Specifically due to the fact you're buying one condo unit in the building. However, there can be exterior elements that are inspected too.
While there are many elements of a condo inspection that are reviewed, the HVAC system is something to take notice of.
It's typically for an HVAC system to be on the roof of a condominium building. It's interesting to see how different buildings have set up their HVAC systems into the condo units. In a condo inspection, the HVAC system can be one of the most critical systems to inspect because the exterior unit is typically placed in the roof of the building. Sea salt elements travel through the air and rest on elements like an HVAC system.
How Inspections can be a bargaining chip in a purchase agreement?
When buying Maryland real estate with a MD Realtor®, you have the option to include a "Property Inspection Addendum" as part of your purchase and sale agreement. When signed by both buyer and seller, this addendum gives a buyer the right to do an inspection on the property. The buyer will have a set period of time to complete and notify the seller of inspection issues.
In the event, the property has unsatisfactory property conditions, the buyer could request the seller to make repairs. The seller may not be obligated to make repairs for the buyer. If the seller doesn't agree to make the repairs the buyer requests to be completed, the buyer has the option to cancel their purchase agreement.
Inspections with "As Is" properties
Typically, short sales and foreclosures are properties that are sold "As Is", but sometimes a traditional sales can be sold "As Is". The seller discloses the property is being sold in the condition that the property is in. This means they may not make any repairs. if you buy a property being sold "As Is", you can still have a property inspection contingency. This means, after your inspection, if there are conditions you're not satisfied with, you have the option to cancel the agreement. As an alternative to having the seller make repairs, you could ask for a reduction in the purchase price.
A home inspection identifies the physical condition of a property and the systems within it. Here are more inspections, you may want to consider:
Well and Septic Inspections
Lead Based Paint Hazard Inspections