Before you buy a home, one of the things you should do is to have it checked out by a professional home inspector.
Home inspections provide an opportunity for a buyer to identify any major issues with a home before closing. Your first clue that a home inspection is important is that it can be used as a contingency in your contract with the seller. This contingency provides that if a home inspection reveals significant defects, you can back out of your purchase offer, free of penalty, within a specific time frame.
The potential problems a home can have must be pretty serious if they could allow you to walk away from the signed contract.
HERE ARE FIVE REASONS TO HAVE A HOME INSPECTION BEFORE YOU PURCHASE:
- A Home Inspection Contingency Gives You Room to Negotiate
One of the benefits of having a new home inspection conducted before you buy your house is the potential negotiation power you may obtain. If your dream home is just above your budget, a home inspector will help you gather the information that can give you a chance to negotiate a lower price. We also recommend arranging your contract so that if you do find any major problems, you have the option to back out of the deal.
- A Home Inspection Can Save You Money in The Long-Run
When you’re buying a new home, you can expect lenders to require home appraisals, which assess the value of your home.
A home inspection, on the other hand, is often optional. But getting one can save you big bucks in the future. A home inspection can also help confirm whether that dream home is indeed the right fit for you and your family. There’s nothing worse than buying a home you thought was in perfect shape, only to find out you’ll need to dip into your savings to repair a huge problem.
- The Sellers Can Repair The Home
On top of negotiating a lower price for your home, many buyers include details in their contract that require the seller to make certain repairs before purchasing the home. You will often come across sellers who are reluctant to do repairs on their homes. Your sellers may simply want to sell and move on. They may not want (or be able to) invest any additional money in their home. If your sellers do not want to do the repairs themselves, your home inspector can help you estimate how much they will cost then, deduct the total from the cost of the home.
- Your New Home Might Be Hiding Something
New home buyers need to hire a home inspector to look beyond the walls and doors of their homes.
Going through an open house or private showing guided by the listing agent who represents the seller. If they feel that the property might be a hard sell, they will sometimes use a few staging tricks to cover any defects. That’s where the home contingency comes in.
- Home Inspection Contingencies Help You Know Your Home
A home inspection contingency lets you negotiate the sales price, ask for repairs, or walk away from the sale based on the inspection results. Your contract may stipulate that repairs must be made if the problem is uncovered, but that can lead to closing delays while the fixes are scheduled and approved.
Aside from being your real estate agent, guiding individuals and families through the home buying process is what we do best. If you’re interested in connecting with our experienced team contact us today! We’re happy to help in any way we can.