Why should I hire an inspector?
There are 2 types of inspections that can be made in a real estate transaction, a buyers inspection or a sellers inspection. If you are about to list your home, you may want to consider getting a sellers inspection.
A sellers inspection can give you an advantage when it comes time to listing your home. The inspection will point out any deficiencies, areas that are lacking maintenance as well as positive attributes of the home. As the seller you will have time to address any issues prior to placing your home on the market. It will also give you the opportunity to have the report available to prospective home buyers.
A buyers inspection is recommended on any home that a prospective buyer has signed a purchase agreement on. Whether its a new construction home or a home that was built in the 1900s, an inspection should be made prior to closing on the home. As with the sellers inspection list above, a buyers inspection will point out any deficiencies, areas lacking maintenance as well as positive attributes of the home. The inspection will give you a snapshot of the home you are about to purchase. The inspection will also give you a heads up on any components that may require replacement soon such as roof, furnace, water heater, etc. With your report in hand, you will have an opportunity to address any deficiencies found in the home with the seller. Many times the report can be used as a bargaining tool or at the vary least, request that the seller make the necessary repairs to the deficiencies that were noted in the report.
Do home inspectors need to be licensed in Minnesota?
No. There are currently no licensing requirements in the state of Minnesota. In Minnesota anyone can perform home inspections. When choosing an inspector look closely at their experience, education and how long they have been in business. Another good source of information can come from past clients the company has worked with.
How much does a home inspection cost?
The cost of a home inspection can vary between companies. Some companies will base their fee off of the purchasing price for the home while others will base their fee off of the square footage and/or age of the home. Although the cost of the inspection should be a consideration, it should not be the only reason why you select a certain company to do your inspection. Do not automatically go with the lowest price, as you may get what you paid for. On the other hand, don’t assume that the higher the cost the better the inspection will be. There should be a balancing act here. Look at the credentials of the company as well as the cost to do the inspection. And then make an informed decision.
My realtor wants me to use their inspector. Is this a good idea?
That depends. If a certain inspector is relying on the realtor for the majority of their business, this may not be a good idea. You want the inspector who you hire to be working for you not the realtor. The inspector you hire should have your best interest in mind. Do your do-diligence to ensure you are satisfied with the inspector you hire.