What to Expect When Inspecting
Home inspections are important so let’s discuss the top 3 things you need to know about them: Cost, Timeline and Completion
In the St. Louis area, I typically tell my buyers to expect to spend $500-1000 on inspections. The most common inspections and prices are: General inspection which costs $350-500 (depending on size of home and inspector pricing), Termite (approx $100), Sewer (approx 200), Gas (approx 125-150) and Radon (approx 100-150). Other inspections could include a pool inspection, roof inspection, mold inspection, etc. During the inspection period a buyer can choose to do as many inspections as they would like. You can also get bids from contractors to see how much items of concern would cost to remedy.
This leads me to the Timeline. “Normal” inspection time period is 10 days. This can be amended when making an offer to be longer if a holiday occurs close to writing the offer or shorter to make the timeline more appealing to sellers when in multiple bid situations. After inspections are completed you and your agent will make a list of items that you would like seller to repair and you will need to send it to the seller by the 10th day. After that there is typically a 10-day inspection resolution period. During this time the seller will likely get their own bids and discuss cost with their agent and then respond to the buyer stating what they will agree to repair. By the end of the inspection resolution period both parties will need to come to an agreement on the list or perhaps a credit to the buyer regarding the repairs. If not agreement is reached the contract could terminate.
Finally, how do you know that the items were completed prior to closing day? Your agent will gather paid invoices and lien waivers from the listing agent prior to your final walk through and will check off the list to make sure everything was completed. Hopefully everything is checked off. If not, your agent will continue to work to get them prior to closing and can help you complete a final walk through notice which can list any items that weren’t found in the invoices. As you can see there is a lot that goes into your home inspections. If you have any other questions please don’t hesitate to reach out to the Krista Hartmann Home Team for Answers!