Home Inspections Take On A New Meaning in 2012

There is no lemon law when it comes to buying a house in Northern Virginia.  No three day rule after you’ve signed the settlement papers to back out.  Last month in my post  Virginia Sales Contract Undergo a Big Change the change to what we refer to as “Paragraph 7” of the Regional Sales Contract was alluded to.

Today it’s time to get real.  If you buy a home after January 2012 and don’t get a home inspection you could be in big trouble.   A couple of things to emphasize.  One you need to make sure you attend & pay attention during your home inspection and pay attention and two you need to make sure you are hiring a home inspector that writes a thorough report on any issue that they uncover.

You can no longer sit back and expect the seller is responsible for making sure the HVAC system, plumbing and appliances are in “normal” working order.  If the stove is broken or the kitchen sink leaking and you don’t put the request for repairs on your home inspection contingency then they won’t fix it.

You can still void a contract based on a home inspection, except if you are buying an REO but my experience is that rarely happens.  Perhaps that will change now if negotiations for repairs include items that were required by the seller to repair in the past.  Only time will tell.  As you gear up for home shopping in 2012 remember to ask your agent if they are familiar with the changes to the Virginia Regional Sales Contract and can guide you through the changes.

 

One thought on “Home Inspections Take On A New Meaning in 2012

  1. Great post! I am a mortgage banker in Arizona and my mother lives in the Chesapeake Bay area. I love visiting your stat. This is a great blog. I have subscribed to you feed! Thx for th great VA info.

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