Who Pays for Real Estate Home Inspections?
The quick answer is both buyers and sellers! Here in California home inspections are considered a must. In fact, most professional Realtors require that you sign a written waiver if you choose not to have certain inspections.
Payment responsibilities have shifted notably over the past decade. In the past, the Buyer would pay for most of the key inspections which include whole house inspection, wood destroying pest inspection, Roof inspections and sewer for older homes. Many professional Realtors now recommend that Sellers get a pre-market Home Inspection and Wood-destroying Pest Inspection before listing their home for sale. The reason for this is it will alert Sellers and Realtors about potential problems that can kill a deal or be costly. It also will help to provide pricing strategy, negotiations and most importantly help streamline the transaction when in escrow often avoiding deal-killing problems!!
What Inspections are we talking about?
- Whole House Home Inspection: This inspection takes 2-4 hours and includes inspecting all major components of the property including plumbing, electrical, HVAC, Attic and Roof. Cost depends on sq.ft. of the property and runs from $400-$800
- Wood-destroying Pest Inspection: Often referred to as the “pest inspection”. This inspection inspects for termites and beetles that eat wood. Often times this report is required by the lender especially for VA loans. The report itself costs: $100-$150.
- Electrical & HVAC Inspection: Depending on the age of the home, electrical panels and Heating Ventilation and Air Conditioning should be inspected. The cost is minimal $75-$100
- Roof Inspection: Again, depending on the age of the home, a roof inspection may be in order to insure that the lender will make a loan on a property with functional roof. Roof inspection costs $125-$150.
- Sewer/Plumbing: Generally this only for homes that are were built from 1900-1970’s when sewer lines were made of clay pipes that eventually crumble due to use and tree routes. Cost: $75-$150.
There are also several other inspections that could be required depending on the property such as: Pool inspection, Septic tank, Well/Water tanks, Property line, Foundation, and Soil inspections.
Buying a home is unlike any other experience you will have in your life. This article is to provide just a little insight into the process of buying a home when it comes to inspections. Consult a professional Realtor or contact me.
John Ecklein, Realtor ONE Group/Complete
916-308-7642 email: john.ecklein@gmail.com
