Negotiating A Lower Sale Price: Property Inspection Tips

Once you’re zeroed in on a property that you wish to purchase, the process of property inspection is designed to help you save money during the process. However, those who are unaware of the following tips often end up spending more on the home than expected. Read on to learn more about what to look for when inspecting a home to help negotiate a lower price.

Ask Plenty of Questions Regarding The “Guts” Of The Home

The HVAC, plumbing and electrical systems of the home are not always easily inspected by the buyer and that is why it is important to ask as many questions as possible. Good inspections leave nothing to chance and allow the homeowner to receive the best possible sales price. Knowing everything that there is to know about the inner workings of the home is crucial to receiving the appropriate value.

Checking Utilities

Failing to check utilities is one of the most common mistakes that is made by would be homeowners, as the previous owner of the residence should still have all of them connected upon arrival. You’ll want to make sure that all of the utilities have been turned on when you are inspecting the home and if the property is being foreclosed on, this becomes your responsibility.

If you do not have the utilities turned on, you may miss out on a chance to learn about the status of several pivotal household functions, including drainage and sewer systems, water flow and piping. You’ll also want to make sure that the electricity is in working order before making a firm offer.

Investigating Water and Mold

This is especially important for prospective homeowners who are considering purchasing a residence that draws its drinking water from a well. The water will need to be tested for potential contaminants and even if the water is derived from a public source, it is imperative to have it tested before deciding on a final sale price.

By having the water tested, you can learn more about the integrity of the home’s plumbing, which allows you to find out if you are potentially at risk of radon or arsenic poisoning. Testing for mold is another mandatory task, as the removal of toxic molds can be rather costly and you can also place your health at risk with increased exposure.

The more you learn about the aforementioned areas of the home, the more accurate your final purchase price will be. In addition to the tips listed above, you’ll also want to make sure that any newly constructed home that you are considering purchasing has been fully inspected as well. There is never a good reason to assume that a home is perfect, no matter how it may look to the untrained eye.