How Building Inspection Determines Your Property Value
by Andy Young Digital marketerBuying a new home in Katy, Tx
or its surrounding suburbs may be one of the cherished goals you want to
accomplish soon. Still, however, conducting a Katy, Tx building inspection may
come the least.
Irrespective of the age, a
pre-existing building may be in poor condition if the owner doesn’t maintain it
well. However, even older homes may be in good condition and could make it look
new through remodeling. Hence, it’s difficult to determine the real condition
by looking at the surface alone.
3 Ways Home Building & Remodeling Inspection Can
Determine Property Value
• Learning about the Building Inspection Report
Many buyers request a
building inspection report for their selected property. This way, they can
learn about the home’s true condition. Many potential repair issues may go
undetected by an untrained eye. Some issues may require an in-depth review by a
skilled inspector. He uses special equipment or tools to uncover.
A professional property
inspector will check the home’s major components. This includes the foundation,
the roof, the plumbing and electrical system, and more. A licensed
inspector can check the areas of concern. A specialist should inspect those
that are not in his scope.
The property inspector will
identify the items that need repair. Then he’ll categorize them based on their
severity. For example, some cosmetic issues may be noted, such as cracked tiles.
Issues such as a loose stair railing or exposed electrical wire may be
classified as urgent life and safety issues.
• Examining the Impact of a Building Inspection on Property Valuation
Beware that the appraiser
doesn’t usually have a copy of the Katy, Tx building remodelling report. In some cases, these two
professionals walk the property on the same day. Then, they complete their
reports simultaneously.
If your purchase plans’
timing permits, it’s wise to get a Katy, Tx building inspection first. Do this
before paying for an appraisal. In some cases, a property’s condition may be so
dreary. This leads a buyer to decide to walk away from the transaction
altogether. In this case, delaying the appraisal order can save the buyer
money.
Some areas of concern
outlined by the property inspector can affect the appraiser’s valuation. The
appraiser’s attention may be brought to concerned areas. This happens after
reviewing the building inspection report.
There are two basic valuation
methods that an appraiser may use. These methods can be used for an
owner-occupied or non-investor property. Both are related to the property’s
condition. These are the replacement value approach and the sales comparison
approach.
Remember that the appraiser
will modify the price per square foot. These are based on key selling points as
well as negative ones, such as a cracked foundation. Likewise, the
appraiser will discount the replacement valuation by any significant repair
costs.
• Exploring Why a Buyer Would Walk Away from a Property
You may think that buyers
would walk away from a property that has repair issues. However, this isn’t the
case. Some buyers will use this information to negotiate a better deal on the
sales price. Others will ask the seller if they’ll fix the concern areas before
closing. Then, the buyer could decide not to continue with the purchase.
For some buyers, the specific
type of damage may be a deal-breaker. For example, there’s mold growing in the
home. The buyer may not feel comfortable living in it. This happens even if
professional mold remediation is completed. This is a matter of preference
based on his or her comfort level.
Keep in mind that some buyers
don’t want to inherit any repair issues from the seller. They prefer to buy a
well-maintained property. Sellers may give discounts they can agree with.
However, the buyer may not want to deal with those repairs on his own.
For more information
about building inspection, reach out to White Building Reports.
For more
information about Home Building & Remodeling Katy, Tx call White
Building Reports on
(516) 229 - 1466,
or complete our online inquiry form on our website -
https://blanchardcustomconstruction.net/
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Created on Dec 15th 2023 23:58. Viewed 60 times.