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Importance of Home Inspection in the process of buying/selling a home cannot be undermined. A Licensed Home Inspector will ensure to verify that the systems and the foundations of the home are free from critical damages, that may increase your cost of ownership and maintenance in future. Likewise, if you are selling a home, failing to receive a satisfactory home inspection will make it very difficult to sell your property, so it is prudent to be prepared.
As a buyer when we put an offer for purchasing a property when can include an inspection clause along with other clauses such as finance. This would allow us to get the inspection done by a licensed inspector and walk out of the transaction if something substantial is uncovered. Also, at times the Seller would agree to get the finding fixed before the closing date or have a reduction in the agreed price for the buyer to take care after closing.
General home inspection areas include:
Structural elements of the home (walls, ceilings, floors, roof, foundation, grading etc)
Exterior (landscaping, elevation, drainage, doors, railings, faucets, electric etc)
Interior (floors, walls, ceilings, stairs, railings, room doors, patio door, windows, insulation etc)
Roofing (ventilation, framing, rain gutters, downspouts etc)
Plumbing (drain flow, waste, pipes, toilets, showers, sinks etc)
Heating & Cooling (thermostats, blower, distribution system, venting etc)
Electrical (circuit breakers, main panel, wiring, grounding, exhaust fans, light fixtures etc)
Appliances (dishwasher, cooking unit, ventilators, cabinetry etc)
If you are purchasing a home, you need to know any underlying issues with the home before you close the transaction. A professional home inspector will disclose any known problems with the home that may affect your buying decision. Being the biggest purchase of our hard earned money its absolutely in our best interest to do our due diligence as a buyer.
On the other hand, if you are selling a home, you should know about any hidden problems before your home goes on the market. Usually, any buyers will require a professional home inspection as one of the conditions in their offer purchase. If the inspector points to any serious problems, the buyer will have an option to move away from the deal. Any potential issues with the home should be fixed before your home is put on the market and inspection gives us those insights. This will make selling your home a lot easier and remove any surprises in the whole process, specially if its an older home its worth exercise to get an inspection done beforehand and remediate the issues.
The cost of a home inspection would largely be based on the size and location of the property and would range in couple hundred dollars, however, it is insignificant in comparison to the price of the property we pay and peace of mind it brings along with it.
Please refer Buyers Information Package for more articles helping you in Buying your home and also the Buying Process Roadmap.
Wish you all the best..Mudit
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