Why Home Inspection is Beneficial for Both Buyer and Seller of Property
If there is a house on sale, both the buyer and the seller will benefit from home inspection. For the seller, a sober assessment made by a professional inspector can help him identify areas of the property that need attention prior to listing and can also help him determine a fair selling price if in case he decides to sell it ‘as is’. On the other hand, a buyer also benefits from home inspection since he will know the things that need attention in the house that can help avoid costly surprises down the road, and this also will help him facilitate a sound compromise of the price of the property. A visual diagnoses of the current condition of a property is done in home inspection which is just right for both buyer and seller. What is done during the home inspection is the examination and testing of the property’s major systems like electricity, water, HVAC, and other systems. Another vital data that must be checked are those structural components, starting from the foundation and up to the roof, to see to it, its soundness.
The seller may make an honest assessment of the condition of his home, but it is the buyer will get the brunt if there is no official home inspection before buying the property, and here are some practical reasons.
This is especially true when buying a newly constructed home where it may sound like a waste of money. Since it has been newly constructed you will not expect anything to be wrong with it at this early stage. The problem with wiring, plumbing and easement may not be visible during a showing and it is just right for you to get an expert opinion.
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It is true that home inspection requires an initial upfront money like three hundred to five hundred dollars, depending on the size and age of the home. That fee is substantially tiny compared to having to rewire the entire house when you find out that sub-standard wires has been used by the contractor of the house.
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You are given a good leverage in negotiating a lower price if you have a home inspection performed before you buy the home. If you want to bargain for the price and you don’t have any basis for lowering then you will find it very difficult to convince the seller. With home inspection you can benefit from negotiating to lower the price of the house with verifiable support.
Aside from being able to bargain with the price of the property, a buyer also benefit from home inspection because he can make an additional clause in the contract to the effect that the seller has to make the necessary repairs on the house before the money is paid for the property. This means that if the seller is unwilling to carry out the repair, you simply let someone estimate the cost and ask thy seller to take that amount off the total price.