Why you should get an Inspection
Whether you are buying or selling a home, you should have a professional home inspection performed.
A home inspection will look at the systems that make up the building such as:
- Structural elements, foundation, framing etc
- Plumbing systems
- Electrical systems
- Exterior Condition (as in identifying Deterioration of siding, etc.)
If you are buying a home, you need to know exactly what you are getting. A home inspection, performed by a licensed professional home inspector, will reveal any hidden problems with the home so that they may be addressed BEFORE the deal is closed. You should require an inspection at the time you make a formal offer. Make sure the contract has an inspection contingency. Then, hire your own inspector and pay close attention to the inspection report. The items noted are typically negotiated between buyer and seller and either repaired prior to closing or sometimes settled with a monetary adjustment as long as the buyers' lender approves and both buyer and seller are in agreement. The worse case option is if you aren't comfortable with what he finds, you could kill the deal.
Likewise, if you are selling a home, you want to know about such potential hidden problems before your house goes on the market. Almost all contracts include the condition that the contract is contingent upon completion of a satisfactory inspection. And most buyer's are going to insist that the inspection be a professional home inspection, usually by a licensed inspector they hire. If the buyer's inspector finds a problem, it can cause the buyer to get cold feet and the deal can often fall through. At best, surprise problems uncovered by the buyer's inspector may cause delays in closing, and you may have to pay for repairs at the last minute, or take a lower price on your home.
It's better to pay for your own inspection before putting your home on the market, find out about any hidden problems and correct them in advance. This also allows you to be more confident in the negotiations if you are being offered a low price. Knowing that there are less chances of a major repair cost popping up, you are able to negotiate to the best agreeable price in order to seal the deal. Otherwise, you can count on the buyer's inspector finding them, at the worst possible time.