Your offer was accepted! Congratulations! Next step – your agent tells you that you need to schedule an inspection. They might give you a few recommendations, but as always you are welcome to choose anyone you’d like to do the job. Make sure to look up reviews, and even chat with one or two before deciding so they are aware of any issues that might be deal breakers for you.
Usually inspectors like to begin the work without the buyer(s) so they can focus and get through a lot of the work right away. Once you arrive, they may start by identifying a few major issues found so far, or have you tag along for the end prior to going over anything they saw that might be a major objection.
Going over things with the inspector and seeing it for yourself while in the home are very important. The report you get later can be long, overwhelming and at times scary. Inspectors as well as agents can help put things back into perspective or help contact professionals to quote any work that needs done.
Back at home, you and your agent will go over the report in greater detail and talk through which items you are ok with (this becomes your to do list) and which items you either want a credit for or to be repaired prior to closing on the home. These items are written into an objection letter and sent to the seller’s agent.
The seller will talk to their agent, go over your requests, and respond with what they are able/willing to fix or credit. If you come to terms, the inspection contingency is removed from the contract and you move forward with the purchase. On the other hand, if you don’t reach an agreement you can back out and sign a mutual release.
Inspections are a great way to become very familiar with your future home and to go into the purchase with eyes wide open! In the coming weeks I will be talking about some of the biggest issues you might find during an inspection in Michigan.