Top deal-breaker problems in home inspections

The home inspection is a critical stage of the home buying process. It’s an essential step for any buyer and can cause numerous deals to fall apart if any nasty surprises are uncovered. 

Both buyers and sellers should be aware of the types of deal-breaking problems that can crop up in a home inspection.

#3 – “Structural Problems” 
The buyer knows the job is a fixer-upper but comes across more problems than anticipated. They know they’re going to have to carry out basic repairs, but often times in run-down homes there are bigger problems – we’re talking about structural issues, problems with drainage and so on that will cost thousands of dollars to repair. In such cases, these finds can quickly become a deal-killer.

#2 – Expensive Repairs 

Properties of around 20-years old are usually in good condition, but there are many systems that need replacing after this time frame, including the roof, decking, boiler, appliances and so on. Other things like hardwood finishes and carpets may also need fixing, and many buyers are caught out by the length of the maintenance list.

#1 – Cover-ups 

The number one deal-breaker is cover-ups, where previous homeowners may have taken short-cuts on renovations and repairs. Homes which were bought to be flipped often come with nasty surprises like this, wherein the flipper has simply covered up bigger problems like chronic damp, mold or structural issues. 

Caveat Emptor: The Home Inspector

You've found your dream home in the perfect neighborhood. The neighbors are friendly, as are their kids and dogs, the schools are nearby and the price is even below what you were expecting. But wait, you have one more major hurdle before this slice of Norman Rockwell becomes reality: the home inspection, for which the Latin saying "Caveat emptor (let the buyer beware)" was invented.

Common "surprises" inspections uncover include: poor exterior grading, which can lead to basement flooding or leaking; roof leaks; improper wiring; plumbing issues; and heating system malfunctions.

The seemingly every day problems can often prove to be the biggest disasters -- and deal-breakers.

Most of the issues inspectors encounter are relatively simple and can be easily dealt with. But sometimes the cost of fixing these small things can be major. One way the potential buyer can protect him or herself is to make sure, when making an offer on a house, the contract includes a home inspection contingency. This is to ensure, if a costly problem is found, you can require the seller make the repair before the deal closes, negotiate a price reduction to make up for the cost of making the repair yourself, or go look at some different houses altogether.

If a potential buyer balks at the cost of hiring a professional inspector, they should realize that it's a small price to pay, considering what you're gaining. Inspectors tend to base their fee on the square footage of the home being inspected, as well as how complicated the job is...

Buyers can find a certified inspector through the American Society of Home Inspectors (ASHI).