A home is probably the largest purchase you’ll ever make. So, before you buy, one of the things you should do is to have the home checked out by a professional home inspector. Having a home inspection protects you as the buyer, provides negotiation and contingencies on the purchase, yields long-term savings, and is one of the best ways to research your new purchase.
One of the advantages of having a home inspection performed before you buy is the power it might give you to negotiate a lower price. If a home you’re really interested in is on the edge of your price range, information gathered during the home inspection may give you the bargaining power to talk down the price.
Plus, a home inspection is important as it can be used as a contingency in your purchase offer. This contingency provides that if significant defects are revealed by a home inspection, you can back out of your offer, free of penalty, within a certain timeframe. The potential problems a home can have must be pretty serious if they could allow you to walk away from such a significant contract.
An inspector will thoroughly examine your home noting whether each problem is a safety issue, major defect, or minor defect; which items need replacement and which should be repaired or serviced; items that are suitable for now but that should be monitored closely.
A home inspection allows you to research your potential home like you would any other major purchase. The more you know, the fewer surprises there will be down the road. Home inspectors can help you make a decision based on your current budget as well as your future time and money investment.
Learn what is covered and officially inspected in our full home inspection.
Home inspections are generally priced depending on size and age of the home, and we recognize that can be an added expense. However, think of it this way: those who skip out on the expense may realize in a few years that an inspection is much cheaper than rewiring the entire house for an unknown electrical issue that a home inspector could have seen before the purchase.
Once you have the results of your home inspection, you have several options. If the problems are too significant or too expensive to fix, you can choose to walk away from the purchase, as long as the purchase contract has an inspection contingency.
For problems large or small, you can ask the seller to fix them, reduce the purchase price, or to give you a cash credit at closing to fix the problems yourself – this is where a home inspection can pay for itself several times over.
If these options aren’t viable in your situation (for example, if the property is bank-owned and being sold as-is), you can get estimates to fix the problems yourself and come up with a plan for repairs in order of their importance and affordability once you own the property.
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If you need a home inspection or just want some more information on the process, contact us today!