Buying Tips: Home Inspections
Part of the real estate purchase contract that is approved by the State of Colorado, and that we use at Breckenridge Associates, includes the option for a buyer to get an inspection of the home after the contract is agreed to by the buyer and seller.
A buyer can elect not to perform a home inspection, but it is highly recommended that one be completed. The Inspection Clause allows the buyer to perform an inspection of any or all of the subject property by themselves or anyone they appoint. Most people choose a licensed and bonded inspector in the area where they are buying. A Breckenridge Associates Real Estate broker will be able to recommend local inspectors in our area.
A licensed Inspector in the State of Colorado has gone through classes to educate themselves about all aspects of home inspection. If anything comes up that the inspector does not have specific knowledge and training about, that inspector should be able to refer you to another licensed professional. Following an inspection, the buyer is presented with the findings. The buyer then has the right to one of the following:
a) Move forward with the contract as is
b) Ask the seller to make necessary repairs to the areas that need work or come to agreement with the seller on how to handle these items
c) Terminate the contract.
Home Inspection Concerns for Buyers
The inspection process can cause a little anxiety in both buyers and sellers, but it is something that the Realtors at Breckenridge Associates have experienced numerous times, and your broker will be happy to work with you, the buyer or seller, to advise on how to handle anything that comes up.
The seller does not have to agree to any of the inspection items, but most agree to repair or negotiate a monetary amount for some if not all of the inspection items. Sellers typically do not want to risk losing a buyer over inspection items that can usually be easily remedied. The Inspection Clause of the Colorado State approved contract is one way a buyer can protect themselves from unseen defects in the purchase of a property.