Thursday, November 26, 2015

The importance of a home inspection - By Cari Turnbull

Whether you’re a buyer or a seller a home inspection is an important part of the home buying and selling process. 

Traditionally you would hear about a home inspection in correlation with the buyer, however it is becoming more common for sellers to have a pre-inspection on their home. This inspection would happen prior to listing your home and gives you the opportunity to fix any issues that may be found so you can get top dollar for your home. The seller can then offer a copy of this home inspection to potential buyers and if there were any issues that needed addressing they could provide proof that the work was completed. 

As a buyer, you will definitely want to schedule a home inspection once you’re under contract. Buying a home is probably the most significant purchase you will make in your lifetime and it is a good idea to know what you’re buying. The cost of a home inspection can range from approximately $350-$850 depending on what you decide to inspect. Your realtor is a great resource to not only choose a home inspector, but to help you decide which inspections are appropriate for your home. At a minimum, you would want a general building inspection. This includes a thorough look at the interior and exterior of the home and all of the systems in the home such as heating and electrical. The purpose of a home inspection is to locate any material defects or safety issues.

After you have the results of your home inspection, as a buyer you can then negotiate with the seller to get items fixed prior to closing or get the price reduced on the home. Keep in mind that some items may need to be fixed prior to closing depending on what financing program you are using. You should work closely with your realtor through the inspection process to determine which inspections you should have and how to handle the results of the inspection. When all is said and done, it comes down to having a strong, competent broker on your side.

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