How should a buyer handle inspections?
Choose a single inspector, rather than a team. With a team, the job gets done quick, which is good for the agent and the team. With a single inspector, the inspection does take longer. However, the buyer should accompany the inspector through the entire process. The buyer should ask questions and be present with the inspector. This method will give the buyer a first hand view of both problems and solutions associated with the property, rather than a detached inspection report. The buyers agent should also attend the entire inspection.
If the homeowner or the listing agent are present, it can be a benefit to the buyer. He can get more details and information from the source. However, this practice is often avoided as the buyers agent traditionally prefers distance between the buyer and seller/listing agent. This being to prevent personality clashes or miscommunications.
What should the seller know about the appraisal?
For the appraisal, it is important for the property to be in good working order. In most cases, the appraiser should be alone at the property by using the lock box to enter. The appraisal normally takes 30 minutes or less. It is not a thorough inspection.
Electric, water, and gas should always be on to show that everything is in working order.
Safety hazards such as exposed electrical hazards, peeling paint, and missing handrails should be remedied prior to the appraisal.
The results of the appraisal are usually made available to the buyers agent within 5 business days. No News is often Good News when waiting on the results.