The importance of a home inspection

Obtaining a home inspection is a vital step in buying any new home. Whether it’s a first time home buyer or a seasoned home buyer/owner; whether it’s a residential property, vacation, or rental there cannot be an underestimation to the importance of a home inspection.The home inspection provides the buyer with an unbiased opinion on what they can expect with the condition of their home. While sellers generally prefer to sell their homes “as-is” or as close to that as possible, it also helps the seller in understanding the condition of the home they are attempting to sell. Regardless, homeowners that agree to purchase a home without the inspection can have thousands of dollars worth of repairs on their hands they weren’t anticipating. A move to such a home can be a financial nightmare that can exhaust any applicable savings. Those who face this issue can quite possibly end up traveling down a slippery slope of accumulating additional debt. This has the possibility of becoming overwhelming financial and can even result in foreclosure.

Oftentimes buyers will assume that waiving a home inspection may help them prevail when multiple offers are placed on a given home. They believe they will loose leverage in a seller’s marketplace and may “fall in love with the house”. These buyers often are so focused on the house at hand and not as concerned about the tremendous financial liability which they will become committed. In some cases they may be able to adequately assess costs associated. However, most people don’t fall into this category. Even if a prospective home appears to be well kept up to date, the average home owner will miss vital issues that only those qualified will find.

A qualified home inspector will be able to inspect areas of the home and foresee issues pertinent to the buyer proceeding with the purchase contract. Very key issues pertaining to major expense items such as the roof, windows, plumbing, electrical, heating/air conditioning, among others items allow the buyer the opportunity to opt out of the contract if the seller doesn’t repair these items or agree to reduce the purchase price. Depending on various state laws, the seller may be financially responsible to repair such items. However, smaller items will fall onto the hands of the buyer of the home but can often depend on market conditions and the overall deal. Generally everything is negotiable. However, not all home transactions are routine and buyers and sellers. Both sides make their decisions differently, whether they are financially or emotionally based. Regardless, not requesting a home inspection is never worth the risk. Homes rarely will provide any such incentive such as a discount for the condition. Informed home buyers are much more aware of their options and are willing to move onto the next home of interest. In addition, they provide an unbiased opinion the realtor cannot provide. Doing otherwise takes on tremendous risk financially, emotionally, and can wreak havoc on the lives of all those involved.