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 all the systems that make up the building such as:

• Structural elements, foundation, framing etc
• Plumbing systems
• Roofing
• Electrical systems
• Cosmetic condition, paint, siding etc

If you are buying a home, you need to know exactly what you are getting.  A home inspection, performed by a 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. If the inspection report reveals any items that you would like to have repaired by the seller prior to closing escrow, then your agent can prepare what is called a "Request for Repairs" form to submit to the seller or seller's agent.  The response from the seller could be that he or she will take care of the repairs, or will not take care of the repairs, or may offer to give you a credit through escrow so that you can have the repairs made after close of escrow.  However, if the inspection report should reveal any major problems, such as cracked foundation, electrical hazards, severe mold issues, etc. and you're no longer comfortable going through with the purchase, you can rescind the contract based on the inspection contingency clause.

Sometimes buyers, instead of hiring a professional home inspector, will decide that they will just have their friend or family member inspect the home and most of the times, this come's back to haunt them.  Unless the friend or family member is  a professional home inspector, we strongly disagree against this practice.

If, on the other hand, the buyer should decide not to have a home inspection, then the buyer will need to sign a "Physical Inspection Waiver"

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 an 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 will cause delays in closing, and usually you will have to pay for repairs at the last minute, or take a lower price on your home, or credit the buyer for the necessary repairs.

As the seller, 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.  Otherwise, you can count on the buyer's inspector finding them, at the worst possible time.

For further information see American Society of Home Inspectors