Finding a qualified home inspector
It is important that the inspection of your home is carried out by a qualified professional with training and experience in a field such as engineering, architecture or construction. To find a qualified home inspector, ask your real estate agent or lender to provide you with reputable names of companies.
If you are unable to recommend a reliable housing inspector, you can search for any member of the American Society of Home Inspectors (American Society of Home Inspectors, ASHI). ASHI practice standards require inspectors to assess the status of a series of structural and mechanical components of a home and to submit a written report to the purchaser. Some of these components are:
- Central heating and air conditioning systems.
- Electrical and plumbing systems inside the house.
- Walls, floors and stairs inside the house.
- Visible insulation.
- Ventilation systems.
- Foundations, basement, attic and roof.
- Wall coverings, flashings and moldings, drains and water falls.
- Doors and windows.
- Drainage and leveling of surfaces.
He must insist that all these points be covered in the detailed report supplied to him. It is highly recommended that you accompany the housing inspector when the inspector conducts the inspection. This will give you the opportunity to ask questions about any defect in the home and obtain an estimate of the cost of the necessary repairs. It will also give you an opportunity to ask questions about housing maintenance.
Consult a lawyer
Depending on the situation in which you are, other conditions may need to be established. This is another reason why a lawyer is advised to look at your offer before you present it to the seller. If you are not satisfied with any of the conditions stipulated by you in the Offer to purchase, you may choose not to specify the purchase.
When you determine the conditions, make sure they offer you adequate protection, but also be realistic. Keep in mind the market situation and make sure the price and terms of your offer are fair.
Down payment
When you submit an offer, you are likely to be asked to make a deposit. This deposit is usually called a “security deposit”. It is given to the real estate agent to enter it into an account, as a good faith display on your part and the sincerity of your offer.
If the sale is made, the amount of the security deposit will be deducted from the amount owed to the seller at the close of the transaction. If the seller rejects your offer, or the sale does not materialize because one of its conditions is not satisfied, you will be entitled to be refunded the deposit.
Counter-offers
When you make an offer, the seller can accept it as it is, reject it or make a counter-offer proposal. If the seller wants to modify some terms of the offer, he will make a counteroffer. You must then decide whether or not you accept the counteroffer.
For example, the seller could make a counteroffer with a higher sale price, or modify or suppress certain conditions. The seller could also exclude certain goods that you wanted to include in the sale, for example artifacts.
If you receive a counteroffer, you can accept or reject it, or else make another counteroffer. This is the negotiation process that leads to a definite offer agreed by both parties.