Home Inspections & What to Expect
As a Frisco TX first time home buyer, you dream of owning your first home. The contract you negotiated is finally accepted and you are one step closer to the American Dream. You are ready to move on to the next step: Get the home INSPECTED!
Inspection during the Option Period
Here in Frisco TX, first time home buyers typically perform a General Home Inspection during the Option Period.
The buyers purchase an Option from the Seller for a specific time frame. During this time, the Seller takes the property off the market to give the buyers an opportunity to inspect the property. The buyers purchased a period (time frame) of unrestricted right to terminate the contract for whatever reason, or no reason at all.
During this period, the Buyer can:
- inspect the property
- negotiate repairs with the seller upon findings of the inspection; or
- walk away from the contract.
Here’s what to know about Property Home Inspections:
Inspections are performed as a “general” evaluation of the property AT THE TIME OF INSPECTION. It does not warranty future performances or conditions after the property inspector closes the door, or at time of move-in.
Inspections are typically “visual”. The inspector will not take Seller’s property “apart” – to destroy, dismantle or perform any destructive or invasive inspection to inspect condition. Even as simple as moving a couch to get to the electrical plug. During the inspection, some conditions may obscure the inspector from reaching the areas/ items to inspect.
Some property conditions may only be discovered after occupying the property. A home inspector will not be able to discover ALL items during a 3-hour inspection. Hence, a home warranty package will be important to ensure during the 1st year of homeownership, some of these items will be taken care of by the home warranty policy.
Why some issues are not discovered during an inspection:
Some occurrences occur when the right “condition” arise. During home inspection, the inspector only visually inspects the property and may sometimes miss the “conditions” in which homeowners live in the property.
Home inspectors are typically “generalists” to property conditions. Should a “specialist” be needed for further evaluation, you should never hesitate to hire trade professionals even if additional costs to incur. Spending several hundred dollars will save you some further problems down the future.
A home inspection is called to understand the current property condition. It is NOT an insurance policy to eliminate all risks. It is designed to better your odds at purchasing a lemon.
Work only with Licensed Home Inspectors
The home inspector you hire should be a licensed home inspector. All Texas licensed home inspectors must adhere to the minimum standards for inspections by TREC (Texas Real Estate Commission).
Having worked with many home inspectors, just like Realtors®, they are not created equal. Some are more thorough while others are not detailed-oriented. It is important to select a highly-organized home inspector who would correctly describe the issues/ problems or concerns about the property. If you need a good home inspector, your Frisco TX Realtor® should be able to provide you several recommendations.
What first time home buyers should take away with this:
There is no perfect home out there (new or existing), free of flaws. It is natural to uncover flaws in the home. The amount of imperfections depend on the age of the home and how well the home has been maintained.
Discuss with your real estate agent about what may or may not be reasonable repair requests.
Repair requests are negotiations between Buyers and Sellers and can be made. However, these requests also depends on the property value.
If the Buyers purchase the property at “less” than market value, do not be surprised that the Sellers will not make any repairs at all.
First time home buyers should be objective towards the problems uncovered. For every problem, there is a solution. Whether it is the solution of seller taking care of the problems or buyers accept a price reduction or closing costs in lieu of repairs are also part of a solution.
Until the Amendment towards repairs are completed, it is not a fully executed contract.
Should you attend your home inspection?
My quick answer is YES. It is one of the best opportunities to learn about your new Frisco TX first time home. A good home inspector will teach you about your house and how to maintain it from here on out.
Be sure to keep out of inspector’s presence especially when he/she needs to make notes about the property condition.
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Part 7: How Much Funds are Needed to Purchase a Home in Frisco TX? |
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Part 9: Finalizing your Frisco TX loan mortgage process |
Map of Frisco Texas
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3:16 team REALTY is a locally-owned real estate company serving Frisco
TX and the surrounding cities. Find out
(214) 783-2210
info (at)
316RealEstate.com
Loreena Yeo is the broker of record of 