REAL ESTATE
The Importance of Home Inspections W Darrow Fiedler
Intro According to the Porch survey, at least 88% of buyers seek a home inspector’s services for their purchase. When an offer to buy a home enters into a contract, there are many costs, such as the lawyer and realtor fees. The total expenses may have home buyers looking for other ways to save money. Home inspections cost $200 to $500. It may seem like another expense, but the following are reasons why it is advisable to have one:
Safety
All homes on sale should be inspected and tested for safety issues such as mold or carbon monoxide. For home buyers to be on the safe side, the contract should state that the buyer can cancel the offer in case of such discoveries.
Reveals Illegal Installations and Incorporations A home inspection reveals many things about the entire home. It can tell whether, during construction, there were mistakes made or shortcuts taken. Some examples include: Completing a garage or basement without the proper permit. Unpermitted illegal room additions that affect insurance and taxation. Systems installed without following the code and guidelines. Homeowners who purchase such homes are taking on financial problems to fix. A house that cannot pass an inspection is something that does not legally exist.
Negotiating Tool
A home inspector’s expertise can help buyers renegotiate the price by asking for repairs or requesting a price reduction. He/she can negotiate a better deal after inspecting the property and learning its worth.
Forecasting Future Costs A professional home inspector can approximate the age of installation systems such as heating, cooling, and plumbing. They can tell the condition of the structures and how long they have been there. It prepares the buyer for future budgeting decisions.
Learning How to Protect Your Investment
Home inspectors are valuable sources of information. They can give new homeowners tips on maintaining their homes and eventually retaining or even increasing their value.
Insurance Some insurance companies reject insuring companies with certain conditions or lacking certifications such as Wind Mitigation and four-point inspections. Professional home inspectors can certify this as well as to conduct other services. It saves the home buyer money and time.
Conclusion Doing without a home inspection is a gamble and a high risk. It can help you find a perfect home for a good value or one that you should not even think of buying.
Thank you! W Darrow Fiedler