Home Inspections: The Buyer’s Safety Net
A home inspection is your last line of defense. It’s your chance to uncover hidden issues that could cost you thousands down the road, or not!
What Does a Home Inspection Cover?
A licensed home inspector will evaluate:
- Roof & attic (leaks, aging materials)
- Electrical systems (wiring, outlets, panel)
- Plumbing (leaks, water pressure, pipes)
- HVAC system (A/C, heating)
- Foundation & structure (cracks, settling)
- Appliances & fixtures (stoves, dishwashers, etc.)
Red Flags to Watch For
If your inspection reveals major issues, it’s decision time. Here are a few deal-breakers buyers should look out for:
- Roof damage – A new roof can cost $10K+
- Foundation cracks – Can lead to costly repairs
- Outdated electrical – Potential fire hazard
- Mold or water damage – Could signal bigger issues
Pro Tip: Not all issues are deal breakers. You can negotiate repairs or ask for a seller credit instead of walking away.
What Your Lender Cares About: Home Appraisals
Unlike an inspection (which is for you), an appraisal is for your lender. They want to make sure the home is worth what you’re paying for it before they hand over the loan.
What Impacts an Appraisal?
- Recent sales (comps) – What similar homes in Palm Beach sold for
- Location – Desirable neighborhoods = higher value
- Home condition – Renovations & upgrades boost value
- Square footage – Bigger homes typically appraise higher
What If the Appraisal Comes in Low?
Uh-oh. If the appraiser values the home at less than your offer price, your lender won’t cover the difference. Here’s what you can do:
- Negotiate with the seller – Ask them to lower the price
- Bring extra cash – Cover the gap yourself
- Walk away – If the numbers don’t add up, sometimes it’s best to move on
Pro Tip: Work with a local real estate agent (me) who understands Palm Beach’s market to avoid overpaying in the first place.
