The Things You Need to Know About Home Insurance

The Things You Need to Know About Home Insurance

Home Inspections in North Carolina can make or break a contract. We thought we’d approach the subject from 50,000 feet since this tool is just as important when selling or buying a house.

The Offer to Purchase & Contract is the most significant statement in our entire Offer To Purchase & Contract.

THE PROPERTY IS SOLD IN ITS CURRENT CONDITION

What does this mean?

  • Buyers can arrange a Home Inspection if the Seller agrees and at a convenient time.
  • The Buyer pays the inspection costs. Average homes will cost between $400 and $700.
  • The Seller does not require repairs.
  • The Seller cannot insist that the Buyer performs the repair.
  • Depending on market conditions, some Sellers may perform repairs or even complete the job at the Buyer’s request. Sellers do this because they love their home and don’t want to lose the deal.
  • North Carolina repairs are negotiable 100% if two parties are willing to negotiate.
  • Many Sellers refuse to make repairs due to the strong market in the last 12 months.
  • It would be best if you split the repairs suggested in your inspection report into two categories.
    • Structural items include broken floor joists, roof issues, warped hardwood flooring, etc.
    • Cosmetic: Bad light bulb, stained carpeting or stuck windows.
  • You can ask the Seller about almost any structural issue.
  • It is best to ask for only the most essential cosmetic issues addressed.
  • Sometimes, the Seller may agree to repairs but give the Buyer approved credit at closing. This is so that the Seller doesn’t have to make the repairs.
  • Your NC buyer’s agent will discuss a Due Diligence date with you. The Buyer must have their loan approved by then and receive the inspection report from their home inspector. Generally, the DD date takes place within 30 days of an executed contract.
  • All agreed-upon repairs must be completed before the closing date.
  • Many home inspectors don’t have the expertise to inspect termites, pools, and HVAC. The Home Inspector in North Carolina will inspect the HVAC system and look for signs of infestation. However, it is a good idea to contact your pest inspector immediately if there is any suspicion or evidence that they are present.