Purchasing a home is likely the most significant investment of your life and it can be intimidating to jump into such a large purchase. A thorough home inspection can help quell your concern or hesitation.
However, you may have a background in construction or you’re in a competitive market, and bypassing the home inspection will increase the chances of getting your dream home.
Resist the urge to skip a home inspection – regardless of the scenario, having a licensed professional give the property a thorough once over can mean the difference between your happily ever after and a money pit. How, you ask?
Liability and Insurance
Home inspectors carry professional insurance that keeps you covered in the unlikely event they miss
something. It would be devastating to discover that your home wasn’t built to code, or is contaminated with radon gas after you’ve moved in. Not to mention, these discoveries are much more expensive to remedy than the inspection fee.
Seller to Remedy BEFORE Move-In Date
Moving into a new home should be a memorable experience for your whole family. You will want to focus your energy on getting your home set up to function for your family, not fixing wear and tear.
Even if only minor notes came through on your inspection report, you could request that they are repaired before you move in. Having these little repairs fixed before move-in can leave you time to plan your housewarming party!
So, how do you navigate the home inspection like a pro and avoid rookie mistakes? I’m glad you asked. Here are a few of the tips and tricks we employ to help our clients get the most value out of their home inspection.
Request an SPIS Statement
A Seller’s Property Information Statement is a legally enforceable checklist that will provide pages of history on the home. The statement will inform you whether permits were issued for renovations, knowing if the roof has leaked or basement has flooded.
With the information, you can now ask the inspector to pay extra attention to any red flags to eliminate any post-purchase surprises.
Request a Digital Inspection Report
Choosing an inspector that provides a comprehensive and digital inspection report can prove worthwhile.
These reports catalogue descriptions and photos of all the structural and mechanical aspects of the home, which can make the quoting process more accurate and expeditious for repairs or improvements.
The Pre-Closing Walkthrough
We all know that a home is well-staged when it is on the market, but who knows what can happen between the offer acceptance and the closing date.
The pre-closing walkthrough provides you with the opportunity to verify the property is in its agreed-upon state a few days before closing.
Even at this late stage, your lawyer can withhold funds from being transferred if the condition of the home warrants it.
How to Prepare for a Home Inspection – A Tip for Sellers
Sellers can prepare for home inspections and eliminate uncertainty for buyers by going through the home and addressing any known issues. A growing trend is for sellers to have their home formally inspected pre-emptively. This move can attract buyers looking for swift closings and cost savings.
An average home inspection can cost between $500 to $1500, depending on the what is being inspected. Usually, your agreement of purchase and sale states that the sale is conditional on the inspection report being satisfactory to the buyers, in their sole and absolute discretion.
This means as a buyer, you can ensure you are completely comfortable with the condition of the home before proceeding.
