News Edition
So, you’re getting ready to close on that home of your dreams. Congratulations! The days and months ahead promise to be an exciting time. But before you get too far ahead of yourself, consider paying for a home inspection BEFORE you sign on the dotted line. There are a lot of expenses you may incur with purchasing a new home, but this is one you definitely don’t want to avoid. Why? Read ahead to learn why a thorough unbiased, third party inspection by a professional inspector might save you time, money and even potential heartache in the future.
Home inspections may uncover hidden issues
When realtors show a home, they may be required to disclose certain vital information, such as if the furnace isn’t in operating condition. But they certainly don’t have to point out that the home could use a bit more insulation in the attic or that a retaining wall needs work.
A professional home inspector thoroughly evaluates the condition of all physical and structural aspects of a home and prepares a report for their clients. This can include the heating and electrical systems, the plumbing, the condition of the roof and the foundation, interior and exterior walls as well as ceilings, and more. If the inspector finds problems or issues with the home that you weren’t aware of, and you’ve included an inspection contingency in your offer, you as a buyer have several options about how to move forward. You may also be able to simply nix the deal and walk away.
You may be able to negotiate better terms
If the inspection report uncovers problems that require repair or replacement, you as the buyer can ask the seller to fix the problems before the closing. A second option could be to negotiate with them to accept a lower price than you originally offered to either cover the costs of hiring contractors or compensate you for incurring costs to make those repairs yourself.
A thorough home inspection protects your safety
A thorough home inspection by a certified inspector should also include evaluating for potential safety risks such as signs of mold or mildew, water damage, or termite infestations. Older homes built before bans were put in place on the use of asbestos or lead piping and paint might also warrant investigation. If an inspection uncovers any potential safety risk, you’ll want to have that information beforehand.
Home inspections protect your investment
A typical home inspection takes two to four hours and could be one of the most important investments you make in your home. As the prospective buyer, you should want to attend the inspection as well. Your inspection report might reveal serious issues that may make you seriously reconsider your offer.
On the other hand, the inspection might not uncover any major problem that dissuades you from going forward with the closing. Even in that case, however, it can inform you about the condition and anticipated remaining life on major appliances so you can budget in advance for their replacement. And you might also learn about minor repairs that you’ll want to take care of in the future.
