Do not forgo a home inspection
Before buying a home, one of the most important things you should do is to have the home checked out by a professional home inspector. For many people, purchasing a home is often the largest investment they will ever make. Some wonder why they should add another expense to the process to a process that is already costly.
The argument for waiving inspection is often that in a seller’s market the seller can simply choose to accept one of the other offers waiting in the wings. Waiving the option to have an inspection can have major repercussions in the long run. Without a professional inspector viewing the property, the buyer essentially loses the right to make any requests for additional repairs that are not agreed to at the time of signing the initial purchase contract. While some states have disclosure laws that require a buyer to reveal any problems, they are aware of, often sellers are unaware of potential problems. In some cases, sellers will have an inspection done before putting the home up for sale to help with disclosures.
A professional home inspector will conduct an inspection of the general condition of the home. A good home inspection will assist a buyer in understanding exactly what they are about to acquire. A home may look move in ready, but a professional home inspector may reveal issues that are not noticeable to the buyer’s eye. As a buyer, you are making a substantial investment.
It is important to understand exactly what you are purchasing. An inspection makes the buyer aware of what costs, repairs and maintenance the home may require immediately, and over time. If a buyer is not comfortable with the findings of the home inspection, they may want to re-negotiate or walk away from the purchase. Alternatively, a positive report can solidify the buyer’s decision. Having a home inspector conduct a thorough inspection of the property, could potentially save you thousands of dollars.
A home inspector will examine all of a home’s systems including structure, exterior, roofing, plumbing, electrical systems, heating and airconditioning systems, interior, attics basements/crawl spaces, fireplaces, and garages. Most inspectors will be able to have a comprehensive report delivered to you electronically by the next business day and offer a hard copy within a day or two.
In addition to the standard home inspection you should also consider some additional inspection. Some of these include radon testing, sewer scopes, tests for lead, asbestos and other potential environmental hazards. You should consult your Realtor and/or home inspector to see if any of the additional test would be advisable.
Home inspections 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. Home inspections also help protect all parties of the transaction including real estate agents, buyers and sellers, from future claims by disclosing information that may be unknown to the parties. All parties are better off with full disclosure of the condition of the home’s systems. Seller’s disclosure statements rarely provide all the information concerning possible defects and condition of mechanical equipment. Sellers may not be aware of or have sufficient knowledge to disclose pertinent information.
A home inspection is an added expense in the process of purchasing a home but in the long run you will be glad you did it. The inspection can reveal problems that you may be able to have the current owners to fix before you move in, saving you time and money. Or, you may ask for a reduction in the asking price. If you are a first-time homebuyer, an inspection can give you a crash course in home maintenance and a checklist of items that need attention to make your home as safe and sound as possible.
The bottom line is that it is your responsibility to understand as many details as you can about the property you are about to call home as possible. Home inspections reveal the inner working of the property, allowing you to make an informed decision. Do not skip this important step in the home-buying process
– it is worth every penny!
For more information on home inspections contact Rick Jacquemard, at 720.280.3544, e-mail rick@flatironshi.com or visit flatironshi.com.