Thomas Murphy - Pine Shores Real Estate



Posted by Thomas Murphy on 1/10/2021

After a home seller accepts your offer on a home, the next step usually involves a home inspection.

At this point, you'll hire a home inspector who will walk through the home you'd like to buy and offer expert insights into the residence's strengths and weaknesses. Then, you'll be able to assess potential issues with a home and determine whether to move forward with a home purchase.

A home inspection can be stressful, particularly for a first-time homebuyer. Lucky for you, we're here to help you take the guesswork out of home inspections.

Ultimately, there are many questions to consider after a home inspection is completed, including:

1. What did the home inspection reveal?

A home inspection offers unparalleled insights into a residence. It enables you to look beyond a house's surface and find out whether major repairs will be required both now and in the future.

Hiring an experienced home inspector is paramount for homebuyers. With an experienced home inspector at your disposal, you'll be better equipped than others to identify "hidden" problems within a house.

Also, don't forget to review a home inspection report closely. With this information at your disposal, you'll be able to understand whether a residence meets your expectations.

Be sure to consider the long-term value of a property as well. Remember, a home that you plan to purchase should be able to serve you well for years to come. But if you encounter myriad home issues during a property inspection, you may want to consider rescinding your offer on a residence and restarting your search for the ideal house.

2. Are there major home issues?

As a homebuyer, it is important to be able to identify the differences between major and minor home issues.

For example, if there are tiny cracks and chips in the paint on a kitchen's walls, these issues are minor. In fact, you may be able to repair such issues quickly and effortlessly.

On the other hand, an old, inefficient furnace can cause major headaches. Without a properly functioning furnace, you may struggle to heat your home in winter. Meanwhile, it may cost several thousand dollars to replace this furnace.

If you encounter problems with a residence during a home inspection, consider the costs associated with these issues. By doing so, you'll be able to determine how much you may need to spend to correct such problems and can proceed with a home purchase accordingly.

3. What should I do next?

An informed homebuyer will be equipped with the knowledge and insights needed to make a great decision.

Consider the problems that were discovered during a home inspection. If you can fix home issues without having to commit substantial time and resources to complete various home maintenance projects, you may want to consider moving forward with a home purchase.

If you encounter major home issues, you can always ask a home seller to perform home repairs. Or, you may want to remove your offer on a home altogether.

Working with a real estate agent is ideal, especially for homebuyers who want help with home seller negotiations. With assistance from a real estate agent, you should have no trouble determining how to proceed after a home inspection.




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Posted by Thomas Murphy on 7/7/2019

A home inspection is a vital part of every real estate transaction. Its importance is usually solidified in a purchase contract in the form of a contingency clause.

Whenever you buy or sell a home, the transaction is typically contingent upon a few things being fulfilled. Inspections help protect the buyer from purchasing a home that they believed didnít have any major issues.

For buyers, an inspection can save you thousands in the long run. For sellers, getting a preemptive inspection done (on your own dime) can be useful since it will help you avoid any surprises that could arise when a potential buyer has your home inspected.

Hiring a home inspector

Regardless of whether youíre the buyer or the seller in this instance, hiring a home inspector isnít something you should take lightly. Youíll want to confer with your agent before you pick an inspector.

Itís also a good idea to check out some online reviews and visit the inspectorís website for pricing. Typically, inspectors charge between $200 and $400 for an inspection, so feel free to shop around.

Inspectors are certified, so make sure whoever you choose has the proper licensure. You can search for inspectors in your area with this search function.

Ultimately, youíll want to choose an inspector that can give you the most unbiased assessment of the home, so that you can be assured that you know what youíre getting into when you buy or sell a home.

Preparing for an inspection

Many buyers arenít sure what to expect on inspection day. However, the process is relatively simple.

Youíll want to make sure the inspector can easily access workspaces (like around the furnace, circuit breakers, etc.). This will make the inspectorís job easier and allow them to focus on the service theyíre providing you.

If possible, itís also a good idea to provide them with records of important home maintenance and repairs. Inspectors know what red flags to look for with the home, both physically and on paper.

Finally, make sure pets, kids, and any other distractions are away from home or with someone who can attend to them.

Post inspection

After the inspection is complete, the inspector will hand you a report and be able to answer any questions you have about their findings. They will give recommendations about the timeline for repairs that need to be made soon or even years into the future.

With this report in hand, you can determine if there are repairs you want to negotiate with the seller if youíre buying a home. As a seller, this report will tip you off to issues that potential buyers will likely have and give you a chance to address them in advance.




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Posted by Thomas Murphy on 10/28/2018

A home inspection often plays a key role in the homebuying journey. If an inspection shows that there are no underlying problems with a house, you should have no trouble moving forward with a home purchase. On the other hand, if an inspection reveals a variety of structural problems with a house, you may need to reconsider your purchase decision.

Ultimately, a homebuyer who knows what to expect during a home inspection can plan accordingly. This buyer also may be better equipped than others to accept the results of an inspection and make an informed choice about whether to move forward with a home purchase.

What does it take to achieve the best-possible results during a home inspection? To find out, let's take a look at three tips to ensure you can prep for a house inspection.

1. Hire an Expert Home Inspector

There is no shortage of home inspectors available in cities and towns nationwide. However, employing an expert home inspector will require you to conduct an in-depth search.

When it comes to finding an expert home inspector, it pays to search far and wide. Because if you have an expert home inspector at your side, you can boost the likelihood of identifying major and minor house issues during an inspection.

2. Assess Every Area of a House

Oftentimes, a home inspection takes several hours to complete, and for good reason. In order to fully evaluate a residence, you'll want to be diligent. That way, you can minimize the risk of missing potential problems as you perform a home assessment.

As you walk through your house with an inspector, don't hesitate to ask questions too. In fact, a home inspector may be able to provide insights into home problems and repairs that you might struggle to obtain elsewhere.

3. Collaborate with a Real Estate Agent

A real estate agent can help you find your dream house, as well as put you in touch with the top home inspectors in your area. Plus, this housing market professional likely will walk through a house with you during an inspection to ensure you can get the support you need to make an informed homebuying decision.

Furthermore, a real estate agent is happy to consult with you before and after a home inspection. Prior to an inspection, a real estate agent will help you put together a plan to assess a house. Meanwhile, after an inspection, a real estate agent can discuss the inspection results with you and help you determine the best course of action.

Let's not forget about the assistance that a real estate agent can provide throughout the homebuying journey, either. This housing market professional can help you streamline your search for your dream house, submit a competitive offer on a residence and ensure you can purchase a terrific house at a budget-friendly price.

A home inspection may seem daunting at first. Luckily, if you plan ahead for a home inspection, you can use the assessment to gain the insights that you need to determine whether a house is right for you.




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Posted by Thomas Murphy on 11/12/2017

In a high competition market, you may be tempted to do whatever you can to entice the seller to accept your offer. Buyers write offer letters, provide large down payments, or waive the inspection. Sometimes, this strategy includes removing contingencies from your contract. 


Beware. Removing contingencies can easily become a nightmare for you as a buyer. Certain contingencies should be kept no matter how much you think you should waive them for enticement. 


The Home Inspection Contingency


This contingency is basically universally recommended by realtors everywhere. This contingency allows you to get a licensed home inspector who will check the property. The inspection typically should be done about 7 days from the time you sign the purchase agreement for the home. 


Following the inspection, you as the buyer can request that the seller make certain repairs. The seller can either make the repairs or provide a counter offer. If youíre not satisfied or cannot reach an agreement, you can back out of the deal and still get your money back. 


Without this contingency, youíll never know whatís wrong with the home until you move in it. Itís a huge risk to take to move into a home without understanding all of its moving parts. Is the roof stable? Has the basement flooded? Will the appliances last? There are plenty of questions that you might have about a home that can be answered simply through an inspection. 


Financing Contingency


This is an important contingency. Your offer on the property will depend on being able to get the financing you need to purchase the home. With this protection in place, in the event that you canít get a loan, youíll get your deposit on the home back. Be sure that the clause specifies the number of days that would be recommended by your lender to have the mortgage approved.   


Appraisal Contingency


This could be the most important contingency of all. This protection could possibly save you thousands of dollars of a headache. Once an offer is accepted on a home, youíre far from done. The lender will typically order an appraisal. If the appraisal comes in lower than the offer you made on the home and agreed to pay, you may have some problems. 


The lender will only lend you what the house is worth. If the appraisal comes in lower, youíll need to make up for tens of thousands of dollars out of pocket. Make sure you have an appraisal contingency included in your contracts!  


As you buy a home, remember how important contingencies can be in the process.            




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Posted by Thomas Murphy on 3/9/2014

If you live in or are buying an older home you may be concerned about asbestos. Asbestos was banned in 1978 because of the health risks associated with it. Asbestos fibers are dangerous when inhaled.† The microscopic fibers can become lodged in the respiratory system and lead to asbestosis or scarring of the respiratory tissues. Asbestos was commonly used as a binder and fire retardant in many building products. It can typically be found in acoustical ceiling tiles; thermal insulation of boilers and pipes; steel fireproofing, cement asbestos siding and roofing; tile and sheet floor coverings. Inspectors are most concerned with what is known as friable asbestos (easily crumbled or pulverized to powder) and often recommend it be removed. It should always be removed†and disposed of by a qualified contractor.†Contact the Environmental Protection Agency for an updated list of qualified testing and or mitigation contractors.