Why You Need A Professional Home Inspection
Posted on: 18 November 2019
No matter how forthcoming the seller is, you still need to get a professional home inspector to tour the home. Once you've made a deal with the seller, arranging for the inspection should be the very next step. Read on to find out more.
Contract Contingencies and Home Inspections
All sales contracts for home-buying contain contingencies. Contingencies are clauses in the contract that make the closing contingent on certain issues. One that is included in nearly all contracts is that the home must pass a home inspection. What it means to pass the inspection varies according to the home, the seller, and the buyer's expectations.
If the home inspection reveals problems with the home, the buyer has options. They might still go through with the contract to purchase if the issues are minor, the seller agrees to make repairs, or financial considerations enter the deal. The worst-case scenario is that the deal falls through as a result of an inspection that points to very extensive and expensive issues that cannot be dealt with in time to close. In that case, you can cancel the contract and get your earnest money deposit refunded.
Home Inspection Details to Consider
The best home inspectors may be very busy, so make it a point to schedule an inspection right after you sign the sales contract. Also, the more time there is available between the contract signing and the closing for any repairs to be completed, the better. Ask your real estate agent for recommendations for a home inspector. You can expect to pay anywhere from about $500 up for this several-hour process, depending on local customs. Be sure the inspector is licensed and legal in your area.
Get Inside Knowledge
Many potential owners are put-off of attending the inspection, but you might want to hang around. Needless to say, stay out of the inspector's way and hold your questions for later, but you might learn a lot about the home just by showing up. The inspector may or may not let you know about any issues, but you will receive a written report soon afterward. If the inspector is open to it, you might find out about things like the fuse box, water main, and gas main locations. A tour of the major systems of the home is always educational and fascinating.
Don't pass up the opportunity to see what the home under consideration is really made of. Find out more by speaking with your real estate agent.
Share