5 Things To Check During the Option Period
When you’re buying a property, there’s a critical period called the "option period," which typically occurs right after your contract is executed. This short window of time is a golden opportunity to conduct inspections and gather contractor quotes. To ensure you make a wise investment, focus on these five key areas during your inspection.
1. Roof
The roof is one of the most important structural elements of any property. Look for missing shingles, water damage, or evidence of leaks. Repairing or replacing a roof can be costly, so it’s essential to know its condition upfront.
2. Foundation
Foundation issues can lead to significant structural problems over time. Check for cracks, uneven floors, or sticking doors and windows. A professional inspector can identify if these are signs of foundation trouble or minor settling.
3. HVAC (Heating, Ventilation, and Air Conditioning)
Heating and cooling systems can be expensive to repair or replace. Ensure the HVAC system is functioning efficiently, and ask about its age and maintenance history.
4. Plumbing
Inspect for leaks, water pressure issues, and any signs of water damage. A thorough inspection can reveal hidden problems, saving you from unexpected repairs down the line.
5. Electrical
Faulty wiring or an outdated electrical system can be a safety hazard. Verify that the electrical panel meets current codes and that all outlets and fixtures are functioning correctly.
Why These Checks Matter
These five areas—roof, foundation, HVAC, plumbing, and electrical—are typically the most costly to repair. Identifying issues during your option period gives you the leverage to negotiate repairs with the seller or adjust your budget accordingly. This due diligence ensures your dream property doesn’t become a financial nightmare.
If you’re ready to find the perfect property and navigate the option period with confidence, get in touch with our team at Investin Real Estate Group. We’re here to guide you every step of the way!
Invest wisely. Live comfortably.