Part of the Austin home buying process is a home inspection which takes place during an option period and typically signifies the mental transition of stepping off cloud 9 for a minute. Buyer’s remorse, if it’s going to happen, usually occurs within the first 24 hours of signing the contract to purchase. If the buyer is not having second thoughts, the inspection puts emotions aside and brings the buyer back to earth to explore the data.
Austin Home Inspection Process
A home inspector will test systems like heating and air, review construction and materials. If present, the inspector will review some of the highlights in person with the buyer and will then email a copy of the full report typically that evening.
An inspection report is generally about 40 pages long and can be overwhelming partially just due to building code changes. Like anything else, we all learn more overtime so technology changes along with construction because there are simply better or safer ways of doing things then there were years ago. GFCI outlets are a perfect simple example of this – many older homes don’t have them.
General and specific inspections in Austin should be done during the option period in order to protect the buyer’s earnest money
Think of an inspector as a general practitioner. An inspector may not be able to pin point what is wrong with a specific system like a dishwasher, but will help the buyer determine whether a plumber is then needed to further diagnose the problem. Time is of the essence here to bring a specialist in the look at the item of concern. Yes, there is an added cost, but the onus is on the buyer to determine whether or not they want the home. That does not necessarily mean pay for the repair, but if the buyer still wants the home, the buyer needs to bring specific knowledge to the seller. Understand, it is in the buyer’s best interest to understand what needs to be done.
Getting to Yes
If a buyer comes up with a list of 20 items they want repaired or a concession for them, the seller is going to be overwhelmed very quickly and will more often than not say just say no. A seller is often more emotionally tied to a home than a buyer is. The message that the buyer is sending is that he isn’t even ‘in like’ with the house anymore and doesn’t really want it.
I tell buyers to pick the top 3-5 areas of concern along with estimates to support what those concerns equate to, if significant, and those are the items we go back and discuss with the seller. Understand it is still the seller’s home and he can do whatever he wants. He can still simply say no. He can also ask to extend the option period to protect the buyer and allow time to do his own inspection. How the repairs are handled is often based on what the cost will be or how invasive the repair is.
The outcome of an inspection amendment is as unique as the people involved. When the right match of seller and buyer come together, the universe has a way of working things out. Everyone feels good which is how you get to a place of yes.
The transition from leasing an apartment or house to buying a permanent residence can be tricky. It’s often a careful dance in terms of the timeline, so planning is key. The first thing I ask a buyer is when the lease is up or due to renew. If a buyer is calling six months in advance my approach is often to have a lender be contacted so that monthly payments and overall affordability can be established. If a buyer has never owned a home before, budgeting for taxes, HOA fees and often utility bills are often new considerations. The second question I ask potential buyers is how much notice needs to be given to the existing landlord. Often, tenants don’t always know how much notice is required which is typically in the existing lease. Required notifications can vary greatly. I have seen anywhere from 30 to 60 days and sometimes there is leeway even if the lease has hard terms. If there is a waiting list to get into an apartment complex the timeline typically stands, but if there isn’t and there are already vacancies available, a landlord may allow for a tenant to transition to a month to month lease or even week to week. Like anything else, it is all about communication, so having that conversation early on (and in writing) will help with the plan to keep a roof over a buyer’s head during the process.
A list of subdivisions in the greater Austin area and current real estate market data for them is featured below. Active homes on the market are defined as units that do not have an accepted contract on them. Active homes, as well as other data change constantly as houses in Austin enter and leave the market. The data is subdivision specific and gives an overall snapshot of the price point and desire for that particular Austin market. There may be additional homes available for purchase in the general market area.
