In New Jersey, home inspections are not mandatory. Still, the seller is advised to have a pre-inspection done, and the buyer is advised to invest in an “official” home inspection, when the time comes. Besides, most real estate contracts in New Jersey have what’s called a “home inspection contingency” built right in.
Home inspection contingencies are put there for the buyer’s protection. It gives home buyers an opportunity to have a New Jersey licensed home inspector conduct a thorough evaluation of all the home’s major systems. The qualified inspector then provides a detailed report of any major defects. It also focuses on any safety concerns, health risks, or code violations.
The Home Inspection Process
First of all, home inspections don’t come up until after the buyer and the seller have signed a purchase agreement, but before the closing process. The buyer has the right to hire a New Jersey home inspector, and they’re encouraged to do so. According to HomeLight, at least 77% of homebuyers request home inspections.
If the home inspector finds any major issues, the buyer will then have leverage to negotiate a lower price, or to negotiate repairs with the owner. Depending on the severity of the problems, the owner may offer to make the necessary repairs themselves. Additionally, home buyers have the option to exit the deal completely, after a negative home inspection report.
What a New Jersey Home Inspection Covers
New Jersey home inspections focus on structural components and essential systems. Your structural integrity is a combination of a solid foundation, walls, floors, and a roof. All of these can cause serious structural problems if they’ve gone undetected for a while. The home inspector will check for leaks, cracks, or any other structural defects.
Home inspectors will check your electrical systems for any faulty wiring. They’ll also ensure proper operation of any mechanical systems, including HVAC systems, septic systems, and plumbing. Afterwards comes the home inspection report, which plays a crucial role in the home appraisal, which IS a lender requirement, for any mortgage loan.
Oil Tank Sweeps
Another consideration for a New Jersey home inspection concerns those who may have underground oil storage tanks on their property. If the property is large enough and old enough to have accommodated one or more underground oil tanks, they can do an oil tank sweep.
The buyer will usually have to request that it be included in the home inspection, and there will be an added cost. The reason this is something you’ll want to be sure of, is that these tanks can develop leaks, and wreak havoc on the environment. Finding one would be of those things most people would call a “dealbreaker.”
Specialized Home Inspections
There are other important home inspections you can have done. When doing your due diligence and researching the house and area, you may see some pertinent trends. For example, in parts of New Jersey, a common request is for radon testing. Elevated levels of radon can increase your chances for lung cancer. You can request a radon test for about $150.
Another specialized inspection you can request is a chimney inspection. This is definitely something you should do before using the fireplace, anyway. Check with the neighbors to see what pests are common, and have a pest inspection done. And if the house was built before 1978, it’s important to have a certified home inspector for lead based paint conducting inspections, collecting samples from every room.
Home Inspection Reports
After completing inspections, licensed home inspectors in New Jersey provide thorough, detailed home inspection reports. A home inspection report can be used in real estate transactions to request repairs, or negotiate a better sales price. Additionally, home inspection reports can be used in the home appraisal, which is necessary for any buyer who’s depending on a mortgage loan for their home purchase.
Home inspections may uncover only minor repairs or issues. You can then make repair requests, or offer to do them yourself – for a price, of course. On the other hand, the home inspection could reveal structural problems, or an improperly operating HVAC system, or worse. If the home inspection is negative, you should start looking at real estate attorneys, whether you’re the buyer or the seller.
Real Estate Transactions
Real estate transactions need real estate attorneys, especially if you aren’t using a real estate agent. The real estate market is tough for anyone to navigate, and it’s easy to get confused trying to make sense of the contract. Do yourself a favor and find a New Jersey law firm to help.
Once you’ve both signed the contract, there’s an attorney review period, in which you can have an attorney look it over with a fine-toothed comb. In New Jersey, the attorney review period is three business days, so be prepared.
How to Avoid Home Inspections Altogether
All of this information is based on selling your house traditionally, but if your primary goal is to sell your home FAST and with as little preparation as possible, there’s another way. Especially when you’re considering a sale “as is,” or willing to entertain offers under fair market value.
You can avoid real estate agents and their commissions, closing costs, and home inspections altogether, simply by selling your house for cash. At NJ Cash Buyers, we live and work in New Jersey, and we care about its residents. We buy houses as-is, for a fair, all-cash offer.
Simple, Fast, Hassle-Free Experience
Selling property for cash is often the solution that makes the most sense. A traditional home sale is a huge ordeal, and a lengthy process from start to finish. Home inspections are just an expected part of that process. There are certain situations in life that demand a fast, hassle-free sale, instead.
With NJ Cash Buyers, you could have the cash from your home sale in as little as 7 days! There are no fees for our services, and you pay no agent’s fees, no closing costs, no repairs needed as there are no home inspections, plus you get to choose your own closing date. Skip the whole traditional house sale, and get a cash offer today.
Get a Free, No Obligation Cash Offer
We don’t employ any high pressure tactics, and there’s no obligation to accept our offer. All you have to do is fill out the short form here with your property address and contact information. One of our real estate investors/cash buyers will be in touch within 24 hours.
If you accept the offer, we handle everything from there, including any other costs associated with the sale of your house. The entire process is fast and simple. Contact NJ Cash Buyers today!