Going Beyond the Inspection Report

A clean bill of home health from an inspector is great news for homebuyers and, even if a few minor issues are highlighted, is generally an indicator that the deal can go through, assuming the loan and appraisal contingencies do not become an issue. But are there items beyond the report that can cause headaches down the line? As the title above indicates, there are indeed. Here are four …

1. Fogging Windows

When dual pane windows hit a certain age, the anti-fog gas in between the panes will leak out, causing the windows to fog. “This could happen at a grand scale if all the windows in the home are the same age,” San Diego Realtor Sherry Chen explained. It is not a safety issue and thus won’t show up on the inspection report, but you ideally want to be able to see out your windows without having to fork over what can be a hefty sum, depending on the number of windows in the home.

2. A Noisy HVAC System

One major issue that could pass inspection but negatively impact your quality of life is noise coming from the HVAC system, says Daren Herzberg, a licensed associate real estate broker with the Babst + Herzberg Team at Compass in New York City. “The rattling of air conditioning units and ducts is quite common, even when the system is functioning properly,” he explains. Clanking steam pipes and radiators can disrupt your sleep and your ability to work from home.

3. What’s Behind that Fresh Paint or New Flooring

While this might be less easy to spot, Asheville, North Carolina-based Realtor Dylan Lennon recommends buyers look “behind the curtain” of brand-new updates in a home, like fresh paint or new flooring. They could be a cover for big problems like mold issues, leaks, or other types of damage. “Recent updates to the home could indicate that there was a problem that the seller is trying to cover up for the home inspection,” Lennon points out. If the home is older, ask your inspector to see if any of these issues might be hiding in plain sight.

4. Outdated Fixtures

With a flip or recently updated home, it is likely the first thing they’ll do is update the fixtures. Inspectors look at a home’s foundation, structural issues, plumbing and electrical system, but make no judgments on the home’s design aspects or features. Check out the fixtures and design and, if you don’t like it, speak with your agent or a contractor to get a sense of the cost, as many buyers underestimate the expenses associated with updating their new home.

Word/Phrase of the Week

Short Sale

In a short sale, the property is being sold for less than the debt secured by the property. In other words, the bank is selling the property for a loss, generally because of a death or foreclosure. Short sales will require the approval of the seller’s lender(s), and in some cases the courts, as the proceeds of the sale will be “short” of the amount owed. Thus, most lenders’ processes of approving short sales are long and drawn out, requiring more time to close than a traditional sale. On the other hand, if you are patient, these are generally a good deal!

Useful Links

If you’re like me, cleaning probably doesn’t measure inclusion next to raindrops on roses and whiskers on kittens on your “favorite things” list. This useful article explains how to incorporate cleaning into your daily/weekly activities in a manner that reduces the pain.

Do you feel like 30 years is just too fast to pay off your mortgage? Well, the FHA heard you and it looks like a 40-year option might be available come October!

Finally, adding a little hard hitting investigative reporting to my usually more light-hearted links, I just found out much that we believe about house plants isn't true.