Home Inspections & Appraisals
Home Inspections PDF North Carolina Real Estate Commission
Home Inspections & Appraisals
Home Inspections and Appraisals are two of the most important items to consider in the home buying and selling process. The value of the house is intrinsically linked to its condition.
Both the appraisal and the inspection results will come into play in indicating the true value of the house.
Inspections
Newly discovered issues can bring you and the owner back to the negotiating table to work out a mutual compromise, and Olson Realty Group is here to help you.
Home inspectors often find flaws or items that need to be addressed. Some are minor, but some can be significant. Most can be fixed or negotiated. Sometimes the house needs so much work that you are better off passing on the deal, but most of the time, issues can be
addressed and the deal can move forward. It is definitely better to find out now, instead of after you have purchased the house and moved in.
Appraisals
An appraisal could value the house below the agreed sales price, in which case the lender may refuse to underwrite the loan. This may cause the seller to lower the asking price to prevent the deal from falling through.
Usually this price difference can be worked out, since the seller wants to sell and you want to buy.
Major areas of concern in inspections and appraisals
Exterior condition of the home
Interior condition of the home
Roof: age and condition
Heating & cooling systems: age and condition
Water heater: age and condition
Foundation issues
Structural issues
Windows
Plumbing
Electrical
Appliances
Is everything operating and in good condition?
Is there evidence of cleaning and routine care?
Working closely with your Real Estate Agent and your Home Inspector, inspection issues can usually be solved by coming to a compromise with the seller.
For more information, see the Q & A on Home Inspections above.