The Importance of Inspecting a Home Before You Buy
Finally, getting the home that you want to buy under contract can seem like a dream come true. While you likely want to race to the closing table, it’s essential to take your time.
Having a home inspection done can help to protect you from major financial repairs in the near future.
What is a Home Inspection?
A home inspection is simply a professional examination of a property’s current condition and safety status.
This inspection should be completed between the time a seller accepts your offer and when you close on the home loan.
After your inspection is completed, you should receive a paper copy of the evaluation that you can share with the seller.
It Provides Leverage
You should think of a home inspection as a form of leverage that you can utilize in the home purchase process.
If it shows some major problems with the condition and safety of the home that you’re purchasing, you can negotiate with the seller.
This could be to negotiate a lower sale price, assuming that you’ll pay for the repairs out of your pocket once you own the home.
You could request that the seller have the repairs completed before you close the sale.
It Gives You Peace of Mind
There’s no denying the fact that a home is a large investment for most people. You always want to do your due diligence to ensure that you’re making a good investment.
You don’t want to pay full price for a home if you end up having to invest in a new roof or fix a foundational issue shortly after.
When you have a home inspection performed on a property, you can be alerted of any issues.
If your inspector doesn’t point out any major problems, you can gain peace of mind about your home purchase.
Most Lenders Require It
One thing that many people don’t realize until after they get their offer accepted is that their mortgage lender requires an inspection.
Your lender simply wants to ensure that they’re making a good investment.
A home inspection is one of the best ways to do this as they can be alerted of any major problems that could easily decrease the value of the home now or in the near future.
As a home buyer, getting an inspection is an absolute necessity.
Not only is it likely required by your mortgage lender, but it can help to provide you with the necessary knowledge about the condition of the home.
Category: Housing
