Home Inspections in the Southern Ocean County Real Estate Market
Southern Ocean County Real Estate
When buying a home in the Southern Ocean County real estate market it is important that you understand the home and any potential issues that are associated with it. The best way to uncover any defects with your property is through a home inspection. The Southern Ocean County real estate market comprises a wide variety of locations including the real estate markets of Long Beach Island, Beach Haven West, Little Egg Harbor, Tuckerton, Waretown and Barnegat Township. For example homes on Long Beach Island and Beach Haven West suffered major damage is a result of Hurricane Sandy and while most damage has been repaired, the damage may not have been repaired properly. A home inspection can point out any potential problems with the whole and alert you to any safety issues which may be present.
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Understanding a Home Inspection and What It Covers
A home inspection is conducted by a qualified and licensed inspector. His or her job is to give you an impartial assessment of the property and point out anything structural or safety issues that may cause damage or impact the value of the property. It is a great idea to be present for the home inspection as in addition to pointing out problems with the home, a home inspector will also give you advice on maintenance, go over helpful tips on how to keep your home safe and explain how the critical systems of the home will work. A home inspection will cover items such as:
- Roof, windows, siding
- Foundation and structural issues
- Electrical, plumbing, and heating and cooling systems
- Lead paint, mold, termites and other infestations
- Safety issues such as loose railings loose walkways or dangerous steps.
All items found in the house, both good and bad, will be written in a formal report which will be sent to the real estate agent, the attorneys, and the seller. This report will outline in great detail everything you need to know about the house or advise you to seek further investigation from a licensed contractor. If there are safety or structural issues present in the house the seller may be willing to either repair or credit these issues as a result of the home inspection. In the event the sellers are not willing to address any issues that are found in the home inspection and you are not comfortable proceeding with the transaction, you are entitled to cancel the agreement provided the contract and the attorney have given the proper provisions for this during attorney review. It is important to schedule your home inspection quickly as possible as most contracts of sale will specify the amount of time a buyer has to conduct a home inspection and subsequently the length of time the buyer has to raise any issues found with the home inspection. It is common, depending on the attorney, to hold off on searching for title, ordering a survey or progressing the sales transaction until a clean home inspection has been presented and any issues resolved. Therefore in order to meet the closing deadlines, it is in everyone’s best interest to move immediately forward with a home inspection and address any issues that may arise.
Buying in the Southern Ocean County Real Estate Market
Buying a home in the areas of Long Beach Island, Beach Haven West, Little Egg Harbor, Tuckerton, Waretown and Barnegat Township which make up the Southern Ocean County real estate market is a major investment and one that should be carefully researched. Apart from understanding the current market trends, recent sales and the current inventory of active homes, it is important to understand the physical structure you are under contract to purchase. There’s no better way to uncover any structural or safety issues than through a home inspection. A home inspection does add to the cost of closing, most will cost in the neighborhood of $500, but it’s money well spent since any potential safety or structural issues could cost for more than $500 investment. For more information about buying a home in Southern Ocean County or about home inspections on Long Beach Island, Stafford, Barnegat, Little Egg Harbor, Tuckerton, Waretown feel free to contact us and we can answer any questions you have.
The Beach Haven West Real Estate Group and Southern Ocean County Real Estate Specialists
Farrah Pileggi 201-952-4131| Kim Pileggi 732-887-4853 | Nathan Colmer 609-290-4293