Your buyer's offer has been accepted and it is time for the inspection. Often times home inspections go well, but that also depends on how well the current owners take care of their home. Is there deferred maintenance? Did the seller refinish an unfinished basement without pulling any permits to do so? What if there are high radon levels?
Whether you are buying a $100,000 home or a $1,000,000 one, getting a home inspection is perhaps one of the single-most important checks you need to conduct to make sure the home is safe and secure. If you are selling a home, however, is having an inspection as important? Some people might say no, but below presents some strong reasons why you should get an inspection, whether you are the buyer or the seller.
Buyer reasons:
Peace of mind — Puts the buyer’s mind at ease that the home is in good shape.
Renegotiate – If problems do arise, the buyer can negotiate a lower price or ask the seller to make repairs.
Opt-out — If the problems are too big or unsettling, the buyer can opt-out of buying the home.
Future needs — Buyers can learn about potential maintenance and upkeep.
Seller reasons:
Smooth sale – Sellers can deal with any issues early that could impede the sale of their home.
Make repairs — Sellers can repair problems before putting the house on the market.
Help set/increase price — By making repairs, it will help set the price of the home and could even enhance the value.
Transparency — Having a pre-inspection report available for buyers tells them that the seller has nothing to hide.
As you can see, having a home inspection is crucial for both buyers and sellers and the cost is usually only a few hundred dollars— well worth it to provide peace of mind and to know what kind of house you’re getting and the condition it is in.
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