Our experience and research shows that approximately 40 percent of resale homes have at least one defect that can cost a home buyer a minimum of $500 to repair
Bound Brook, N.J. (PRWEB) April 14, 2010
HouseMaster, the first and one of the largest home inspection franchisors in North America, reminds first-time home buyers that a professional home inspection can not only provide a great education about the home's systems, but also be a crucial tool in negotiating the most equitable price on the home. April marks National Home Inspection Month and the start of peak home buying season and HouseMaster is providing first-time home buyers tips on how to negotiate the best deal.
"Our experience and research shows that approximately 40 percent of resale homes have at least one defect that can cost a home buyer a minimum of $500 to repair," said Kathleen Kuhn, President of HouseMaster. "A home inspection by a professional and qualified home inspector is an excellent tool to encourage home sellers to make repairs or make further price adjustments as a result of conditions noted in the inspection report.
According to the National Association of Realtors (NAR), in 2009 a record 47 percent of homes sold were purchased by first- time buyers. Tax credit incentives from the federal government of up to $8,000 that close before April 30, 2010, and historically low mortgage rates continue attract first-time buyers to the market. A professional home inspection not only educates buyers on the condition of the home but can minimize costly surprises down the road. HouseMaster provides first time home buyers with the following tips to ensure that they make an educated decision when purchasing a home and get the best price possible.
1. Inspect the Inspector: Only hire a home inspector with an excellent reputation and credentials. Ask how long the company has been in business, ask about specific formal training and ongoing education the inspector has and verify the inspector carries professional liability insurance also known as "Errors & Omissions" (E&O). If the company doesn't carry this insurance it could indicate a poor track record or lack of experience.
2. Ask for a sample of a report. The credentials of the inspection company and the quality of the final inspection report will be important. A poorly prepared report without pictures or clear, concise details addressing all the various systems and accessible elements of the home is less likely to be taken seriously by a home seller.
3. Inspect Ancillary Systems. It's hard for first time home buyers to know what they need so ask what additional services the company offers. If the home you are considering has a septic system for example, a professional home inspection company may offer septic system inspections or can coordinate that service for you. Generally, the company will offer you a multiple services discount as well as enjoy the added convenience of only having to attend one inspection appointment. Other common services offered by home inspectors are termite inspections, mold screening, water testing and radon testing.
4. Go along on the inspection. Ask the inspection company if they encourage buyers to tag along on the inspection. If the inspector discourages you from going along and asking questions, find another inspector. A home inspection is not simply a laundry list of what is wrong with the home. In addition to documenting issues and needed repairs that may exist, a professional home inspector will also show the new buyer how to operate the various systems in the home and provide tips on improving energy efficiency and maintaining the home in general. And being present during the inspection will make the final written report that much more meaningful.
For more tips for first- time home buyers and how to use your home inspection as a valuable negotiation toll, please visit: http://www.housemaster.com.
Headquartered in Bound Brook, N.J., HouseMaster is the oldest and one of the largest home inspection franchisors in North America. With more than 385 franchised areas throughout the U.S. and Canada, HouseMaster is the most respected name in home inspections. For 30 years, HouseMaster has built upon a foundation of solid leadership and innovation with a continued focus on delivering the highest quality service experience to their customers and providing HouseMaster franchisees the tools and support necessary to do so. Each HouseMaster franchise is an independently owned and operated business. HouseMaster is a registered trademark of DBR Franchising, LLC.
For more information please visit http://www.housemaster.com or call 800-526-3939.