Some first time buyers can be overwhelmed with the buying process and even some repeat buyers too. I'm going to tell you a little about inspections and hopefully this will give you some ease..
So you've found a home, you've made an offer that's been accepted, and you even made it out of attorney review! Congratulations! You've been through a lot and you're half way there. Those first few steps can be emotionally draining so give yourself a pat on the back - you did it.
OK, next. The home inspection. Hopefully your realtor will refer you some local inspectors that they have personally used and are happy to put their name to them. If so, I would highly recommend you work with them, if not, then hopefully you've done your homework and have some referrals of your own. This is a large investment and it can be the difference of a good experience or a bad one. So always consider referrals.
Inspection day.
One tip I always give my buyers is to come prepared to the inspection. Bring some measuring tape, a camera, and any friends and family that you'd like to see your future home. Since you won't be able to come back to the property until the actual day you close it's a great idea to take measurements for furniture, take some pictures for memory and picking paint colors, and bring your loved ones whose support is important to you.
On the day of the inspection, your realtor will be there as well. Expect to be there for about an hour - an hour an a half. Your inspector will walk you through what they will be checking, you'll also sign off that you've agreed to hire and pay your inspector if you haven't already. Then he will start to check the house in his own routine way. Remember, your inspector has most likely seen hundreds of homes and has his way of checking everything in an efficient manner. So it's best not to interrupt your home inspector until the end. Write down any questions you have, or anything you want to point out. Then when the inspection is done you can ask them and have them answered.
Your inspector will be checking all of the major appliances and running full cycles to make sure they work properly. They'll run water, check the electricity, any exposed pipes, lights, heating systems and central HVAC if there is one, windows, look for water moisture, any evidence of any leaks in the ceilings or around windows, if there is access they will look at the basement and roof as well.
Although in Hoboken, most times you'll be purchasing a condominium, it is still beneficial to look at the basement and roof. There can be water problems, mold in some rare cases, or poor electricity and hot water/furnace systems. As for the roof, obviously you want a good report. If the roof shows signs of wear and damage, then you can inquire with the condominium association to see if there are any plans on repairing this and whether or not there is enough money in the reserves to do so.
After the inspection is completed you, your attorney and your realtor will receive copies of the report. Any issues that came up will be itemized and included. At this point you will discuss with your realtor and attorney as to how to move forward. In most instances, you can ask that the seller repair what's wrong or provide you with a credit due at closing to address anything. Most inspections go well with only minor issues that sometimes don't even make it to the report. So take a deep breath! You have to finish applying for your mortgage.
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