INSPECTING THE PROPERTY

Frequently Asked Questions

How do I choose a good inspector?

Buyers are free to hire an inspector of their choice. Some licensed home inspectors have contracting or engineering backgrounds; all must be licensed with Washington State

How much will it cost?

Inspections can cost anywhere from $275 to $500, depending on the size of the condo or house.

What is the Seller Disclosure Form (NWMLS Form 17)?

The Seller Disclosure form is a document in which sellers answer, to the best of their knowledge, a series of questions about the condition of the home and any known material defects.

What types of things will I learn about in an inspection?

Inspectors will look for major safety and maintenance issues, as well as minor problems such as sticking windows or paint touch-up. This is also a good time to learn about the location of gas and water shut-offs, etc. Inspector warranties vary and you should review this issue with your inspector.

If repairs need to be done, who does them?

This is a negotiable issue. Depending on the extent of repairs needed, you may simply decide to do the repairs yourself at your own cost after you become the owner. Alternately, you can ask the seller to have the repairs done, or ask for a reduction in purchase price (or a credit towards your closing costs), and the seller can agree or not.

Do I have to buy the house if I change my mind during the inspection period?

No. You simply disapprove the inspection; no reason is required.

What if I am in a multiple-offer situation?

In a competitive situation, some buyers will choose to pay for a pre-inspection to make their offer more attractive to the seller. Although the buyer risks the cost of the inspection, a “pre-inspected” offer has real value for the seller, as it gives the seller peace of mind knowing that the buyer will not walk away or renegotiate during an inspection period.

Whose job is it to find out about crimes or sexual predators in a neighborhood?

Yours — but your agent can help you find the relevant resources.

What is an easement?

An easement is the right given by a landowner for use of the property. An easement can be on another piece of property which benefits you (right to use a driveway, etc.) or the reverse.

What is a new-construction home warranty?

A new-construction home warranty is a guarantee for certain features of a new home, such as the materials and workmanship, main components of the house, etc. The period of time varies with builder.

What is a home warranty?

A home warranty offers protection for mechanical systems and attached appliances against unanticipated repair costs; coverage extends over a specific period of time and does not cover the home’s structure. This is optional coverage and is purchased separately from a home warranty company.

 

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Lake & Company Real Estate

Lake & Company Real Estate

Lake & Company Real Estate

Our office is located at 7801 Green Lake Drive North.
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