Why you need a home inspectionAuthor: Date: 25-Nov-2013. Category: House Inspection
Most people would often say that a profitable real estate property is highly determined by its location. In reality though, the key factor which would make someone sign that check is the structural integrity of the property. Careless disregard to the need of a home inspection is like burrowing yourself into a money pit where the bottom is unknown. You owe it to yourself to learn as much as possible about the safety and operability of your home. A home inspection can provide you with an up-to-date visual assessment of the structure and systems of a property. The findings are then documented in a detailed report provided by the home inspector. The benefits of a home inspection can be translated to both the seller and buyer of a real estate property.
- Seller Pre Inspections - A home inspection is a key process in any home purchase and it is not just for buyers anymore. A home inspection will help you determine the current value of your real estate property before putting it up for sale in the market for good. A timely assessment of the physical condition of the property might uncover problems but it could also give light to past renovations which can help boost the value of the property from what you have perceived it to be. You could also come out from that process with recommendations from the home inspector on what areas need preventive repairs and aesthetic improvements. It will enable you to prioritize, whether the repairs are something that you can do yourself or just pass them to the buyer. By staging a home inspection beforehand, you are demonstrating to your potential buyers that you are honest about the condition of your property which brings trust and good faith on the negotiating table. It helps you market your property easier and stress free.
- Buyer Inspection - A Home Inspector is that one great guy that you can trust to not have a vested interest in the closing sales of your potential home. Being a smart buyer includes investing in an independent and professional home inspection which provides a layer of protection for you as the prospective home owner. There would be no more sellers inflating the price of a property. If you do decide to do the home inspection after contract signing, take the time to ensure that the contract has a provision which states that the sale of the home depends on the results of a home inspection. Remember that a mortgage lender may not be able to lend you money for repair costs if you encounter any issues after the sale of the property has been finalized.
Once you have received the home inspection report, you would have the confidence to take the next steps in the purchase process:
- For issues needing small or medium repairs, you can either request the seller to fix these issues or you can negotiate for a much lower purchase price of the property.
- For repairs that are too expensive to fix, you have the opportunity to walk away from the purchase.