Home Inspections for Real Estate Buyers
YORKVILLE, OSWEGO, PLANO, NEWARK AND LISBON REAL ESTATE CLOSING ATTORNEYS IN KENDALL COUNTY
Gateville Real Estate, LLC is a Kendall County residential real estate closing law firm in Yorkville, Kendall County. The attorneys and professional staff at Gateville Real Estate, LLC provide their customers top-notched legal experience and customer service to assist them with the purchase and sale of residential real estate in Kendall County, Illinois. The home inspection process is a critical phase of the real estate purchase process.
What is a home inspection?
A home inspection is when a qualified and licensed professional evaluates a seller’s home or condo to determine what are the major issues. Generally, the home inspection occurs after the real estate purchase agreement has been accepted. The buyers pay for the home inspection, which is part of the due diligence part of the real estate closing process. The home inspection is the first step of the house closing experience. The purpose of the home inspection is to examine the condition of the house or condo that the buyers are purchasing.
According to the Multi-Board Residential Real Estate Contract 6.1, Paragraph 12, Professional Inspections and Inspection Notices details the obligations and role of the home inspection. In summary, Paragraph 12 of the Multi-Board Residential Real Estate 6.1 affirms the following” “Buyer may conduct at Buyer’s expense (unless otherwise provided by government regulations) any or all of the following inspections of the Real Estate by one or more licensed or certain inspection services: home, radon, environmental, lead-based paint hazards or wood-destroying insect infestation”.
In Kendall County, Illinois, the home inspection is to identify major items which are faulty or having problems. The condition of the house, whether it is a used house or a new construction house, should be a consideration in setting the purchase price. Paragraph 12(b) highlights the major areas of concern for a home inspection including the following:
- Central Heating System(s)
Paragraph 12(a) further concludes that “a major component shall be deemed to be in operating condition if it performs the function for which it is intended, regardless of age, and does not constitute a threat to health or safety”. The purpose of a home inspection is not to re-negotiate the purchase price of the house. A used house will have obvious defects because a used house is without perfection since it is a used house or condo. The role of the home inspection is to inform the buyers and sellers on the condition of the house which may not be visibly known. Thus, the home inspection is designed with the purpose of identifying the major items, which are not obvious to the human eye. Often, the buyer’s attorney will ask the sellers to fix certain items.
Effective and experienced real estate closing experience is critical during the home buying or condo buying process. Negotiating period of the home inspection is an important period where the purchase and sale of the home may destroy the real estate transaction. On the other hand, buyers and sellers have important legal rights to protect. Investing in real estate, or purchasing a home is a major financial investment which requires an experienced legal team of real estate closing professionals.
EXPERIENCED REAL ESTATE ATTORNEY PROFESSIONALS FOR THE HOUSE CLOSING TRANSACTION IN YORKVILLE AND KENDALL COUNTY
In conclusion, Gateville Real Estate, LLC are your experienced real estate legal professionals servicing the Yorkville and Kendall County areas. Our team of attorneys and support staff are experienced in real estate transactions and many have worked for title companies and other law firms handling real estate closings. Gateville Real Estate, LLC is based in Yorkville, Illinois and is eager to serve you with your Kendall County real estate house closing. Gateville Real Estate, LLC may be reached at 630-553-9560 or via online contact form.