Home Inspection Is Crutial To A Home Purchase
Most potential homeowners are told by real estate agents that a home inspection of the house which is under consideration for purchase is necessary. However, there are several questions that come up, particularly from first time home purchasers.
The first question is always: "Do I really need an inspection or is this just extra money being spent that is not necessary?" The answer is, if you like putting your name on the line for a major monetary transaction without every protection you can have, then sure, do not get an inspection. A professional inspector can tell you many things about a house that the untrained eye will totally miss and can cost many dollars in the future. No surprises later is always a good reason to pay the fee for the inspection.
Many people think they can do the inspection themselves or have a carpenter or handyman they know do it. A typical inspector looks over 200 homes a year and has been trained and carries insurance that covers an injury or errors in his inspection. This is one place a professional is worth the fee.
If a problem is found, usually it is minor. A buyer will be able to approach the seller for concessions, a price reduction, or have the seller fix the problem before the deal is completed. If the problem is major, the buyer can back out of the deal provided the agent has written a contingency in the contract that provides for an approved inspection without penalty. If the buyer knows what repairs will be required, a budget can be considered, depending on the severity and the urgency for the repairs. Sellers have been known to take on the repairs and, thus, save the potential buyer many dollars.
Note that the inspection allows for the condition of the home at the time of the inspection and not for future problems. A realtor can also advise a buyer of warranties that are available to prevent future problems.
The inspection fee should run about $300 to $500, but the fee depends on the size of the house and the area of the country as well as the age of the house and the expertise of the inspector.
Spending a small amount now might just prevent a buyer from an expensive foundation repair which can cost many thousands of dollars. Get an inspection lasting several hours and have the peace of mind for a small fee.
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