Home inspections are important for buyer and seller
Q:
We are looking at a home that was completely refurbished about 10 years ago – new roof, windows, wiring, heating system. With all the major systems new, we are wondering whether we really need a home inspection. The place looks in very good shape.
A:
The need for a home inspection is one of the most frequently asked questions I get. The answer is, “Yes.”
No matter the age of the property, or how well it looks on the surface, you should always get a home inspection. You wouldn’t buy a home without buying home insurance.
A good home inspection is like an insurance policy. It gives you a level of comfort to get a professional’s opinion that there are no hidden issues that may come back to bite you later.
Even with new systems, they may have been put in poorly or be of poor quality. Unless you are a trained professional with experience in the building trades, you would not be able to judge the quality of the work or equipment other than superficially.
And I don’t know about you, but I definitely know people who look in terrific shape, only to suffer a heart attack or receive a diagnosis of cancer. You can’t see everything with just a cursory look.
While the onus for obtaining a home inspection rests with the buyer, many sellers will get a home inspection to use as a selling point.
In today’s market sellers need to do everything they can to present their property in the best possible light. Being able to show buyers a recent home inspection with no major problems can be a great selling chip.
There are many types of inspections. As a buyer, at a minimum, you want someone to come in and look at overall construction with special attention to items like plumbing, electric, foundation and roofing.
You should be present while the inspector is going through the property. Most properties, regardless of age, will have issues. The inspector can tell you whether you are looking at a minor problem that can be easily corrected or a major fix.
If there is a problem that will require a significant investment, such as an aging boiler or curling shingles, the buyer can use the information either to walk away from the deal or try to negotiate a better price or other solution.
Sellers are not obligated to negotiate once a contract is signed, but in many cases they would rather negotiate than lose the deal.Remember, a home inspection is not a pass/fail sort of test.
It is a piece of information that will help you know the property better and make a better decision on whether to buy it and at what price.
