A home inspection is not a deal-breaker. It just gives you the correct information you need about the property.
When we talk about a real estate transaction, there are many questions that arise from both buyers and sellers. Some do not know what happens after closing while others think a home inspection is the best option. Both are true actually but the latter is one of the wisest decisions any buyer and seller could make. This is also one of the reasons why a Seller’s Inspection (Pre-listing Inspection) is very popular because more than 85 percent of homebuyers also request an inspection, according to the U.S. General Accounting Office.
A home inspection is a non-invasive, visual examination where the licensed home inspector takes a look at the major components of the home. This includes the foundation, crawlspace, basement, electrical systems, plumbing systems, HVAC, roofing, attic, walls, interiors and exteriors of the home. A home inspection performed by a licensed home inspector is highly beneficial to both buyers and sellers.
Now, let’s take of the advantages of a home inspection.
To the Buyers
Although a walkthrough can give buyers a basic idea of what the property they are looking at can offer, it may not give enough information and details. Perhaps, a roof damage or termite infestation present but not immediately visible through the untrained eye. This problem could cost the buyer thousands of dollars for repairs. With a home inspection, the professional home inspector does not just walk around but ensures that the homebuyer is not left with unpleasant surprises so they know what they’re actually getting.
There is more transparency in a home inspection and the home inspector fully understands that home purchase is a huge financial investment. A home inspection also provides the buyer leverage in terms of negotiations. If there are known issues that can cost extra for repair, buyers are out in a better position to obtain the property at a fair price.
To the Sellers
A home inspection performed ahead of time is extremely helpful for the seller. It not just hastens the sale process but helps get the property sold with minimal setbacks. If the home inspector finds something, the seller still has enough time to fix the issue before listing the property on the market and before anybody comes touring around.
When the seller has full knowledge of the property, he/she can provide tangible proof with the help of an inspection report. This helps increase the seller’s confidence in the property and offer better-negotiating leverage. From a legal standpoint, a home inspection is very important for the seller since a full disclosure will be made. This also protects the seller from the threat of legal action from an unsatisfied buyer since the buyer cannot file a lawsuit because of the full disclosure. There’s a peace of mind for the seller once the transaction is complete.
Looking at the above-mentioned advantages, one could easily see why a home inspection is highly significant. It’s a win-win for both parties and increases the likelihood of both buyer and seller striking a fair deal.
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