When to Ask for Renovation Before Buying a Home in North East Tennessee
Owning a home is usually a huge achievement, especially for first-time home buyers, but in some cases, the home of your dreams might not be as complete as you might have wanted it to be. This is why inspection contingency is a critical part of the home-buying process in North East Tennessee.
Inspection contingency, also known as due diligence contingency. It allows you to inspect a home within a specific timeline before buying it. You can negotiate for repairs/renovations or cancel the contract based on the inspection report.
If you are determined to purchase property, be on the lookout for the following issues, which should be repaired/renovated before you close the deal.
1. Mold Growth
North East Tennessee is mostly humid for significant portions of the year, presenting ideal conditions for mold to grow. Though mold might not be a concern for most, removing any mold is important because it presents several health risks. Black mold, otherwise called toxic mold, can
cause eye irritation, chronic sneezing, persistent headaches, rashes, and
Areas with concentrated mold might also indicate leaks, especially in the basement. Your home inspector will take a sample of the mold at your home to determine if it’s toxic. Identifying the type of mold might make it easy to treat and eradicate it successfully.
2. Roof and Flooding Issues
Just like other areas of Tennessee, North East Tennessee can be subjected to flooding. During storms, there are extended periods of rainfall and a high risk of flooding. Unless you are buying a new home, ensure the inspector checks the roof for issues that might need fixing, like lost shingles and spot leaks. They should also check for any spots that need to be reinforced/renovated in case of floods or heavy rainfall.
Some roofing and flooding issues are easy to repair. Still, areas with significant damage might require replacement/renovations, which can massively set you back if the buyer doesn’t fix the damage.
3. Foundation Problems
Most foundation problems are easy to miss unless the issue causes a noticeable dent in the property. Some of the noticeable warning signs of foundation issues that can’t be ignored include cracks, sagging floors, misaligned windows, and doors, as well as damaged foundation walls, floor joists, and rafters.
Purchasing a home typically requires significant capital and you want to ensure you get value for your money. Whether your lender compels you to inspect your home before purchase or not, it can help you avoid bearing the costs of repairs/renovations.
The inspection results can also help you in terms of negotiations, especially if the seller is unwilling to repair the issues. You can negotiate for a lower deal or cancel the sale if you can’t cover the repair costs.
As always, I am here to help you find your dream home and guide you to the best offer and value for your purchase. Reach out today.