Purchasing a home is one of the biggest investments you will make. The home may look perfect to you, but may have underlying issues. A building inspection can reveal these. It is important that you include a home inspection clause in your offer.
When you find a house you love, together, we will prepare an Agreement of Purchase and Sale. This document will outline the purchase price, deposit, conditions, inclusions, closing date. Conditions are items that must be completed by a specific time to firm up the deal. Some examples are: financing, home inspections, insurance. If they are not met satisfactorily, your deposit will be returned to you in full.
The cost of the home inspection is the responsibility of the buyer, no matter the outcome. The price may vary depending on the size of the home as well as the inspector. Treat this as an investment in ensuring you know what you are buying.
There are many home inspectors out there and it is always best to find one that comes well recommended. Ask friends and family who may have recently purchased a home. I also have a list of preferred partners that I know and trust.
Home inspectors will examine the property from top to bottom for visible defects. They inspect the roof, ventilation and HVAC, fireplaces, electrical, plumbing, foundations, structure, and appliances.
If possible, try to attend the home inspection so that you can see first hand what the inspector notes. A good home inspector will not only guide you through the home but they will also provide you with a detailed document of their findings. The time spent for the inspection varies depends on the size of the property but count on a few hours. Remember, the longer it is, the more thorough it will be.
Most home inspectors will find something that is wrong with the home. It is their job to be thorough, so don’t be discouraged right away. When it’s minor, you may choose to ignore it and move forward with the sale of the home. If it is more significant, we will work together on a solution. We can request money off the sale price or request that the sellers resolve the problem before closing. In most cases, you will be able to work out a that is fair to all. If the problem is too large or the Sellers choose not to budge, you can terminate the agreement and have your deposit returned in full.
Some savvy sellers are choosing to get an inspection before putting their home on the market. If you don’t like the element of surprise, this may be a good idea for you. This way you will know ahead of time what the issues in the home might be and have them fixed or price the home accordingly.
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