Home Buyers conduct inspections prior to their home purchase and must understand that the inspection results are merely opinions of the inspector and reflect a snapshot in time. There is no guaranty that each inspector will identify every flaw or predict future defects.
I sold a property last month the first day on market. The Buyer conducted thorough inspections through well-known and reputable area inspectors. Sadly this Buyer lost her job ten days prior to closing, so we moved on to a 2nd Buyer.
We had already received inspection reports from Buyer #1 and had gotten repair bids. Although provided copies of all inspection reports, Buyer #2 elected to conduct inspections of his own.
Inspection report from Buyer #1 clearly shows the hot water heater in normal working order. I recall the inspector pointing out that the age of the hot water heater was 20 years, but that he had seen this particular brand of hot water heater last up to 30 years. So, no requirement for repair or replacement from the Buyer on this component.
Today’s inspection for Buyer #2 turned out quite differently. The inspector could not get the pilot light to stay on, detected rust and damage to some coils – and is recommending replacement of the unit due to its age.
Actually, comparing the two reports – on the same house – and LESS THAN 30 DAYS APART – it is astonishing to note the different findings. Some things called out the first time were not called out the second time and visa versa.
So, just a head’s up to home Buyers – please remember that inspection results are not black and white, although you expect them to be. Something is either working or it’s not, right? Wrong.
Home Inspections – a snapshot in time
When I purchased my first home, my inspector told me that the air conditioning unit was an inferior brand and that I should budget for replacement. My dear repairman Carl serviced that unit during my twelve years of ownership and I sold my home with that same unit in it.
So, your home inspection results are but a snapshot in time – AND a mixture of an inspector’s opinion and experience. My best advice to home buyers is to budget at least 1% of the sales price for unexpected repairs. Better yet, budget 2% for pro-active maintenance and servicing components.
If you would like an experienced Tulsa Realtor to represent you in your home purchase – and guide you through the inspection and repair process, do give me a call! 918-852-5036
Content written and published by Lori Cain.