Don’t Buy a Home Without Inspections

Buying a home is a big financial decision and the last thing you want is an expensive surprise. But since most homebuyers spend all the money they have buying their home, they do not plan for any unexpected repairs and maintenance.

 

This is why it is so important to have a professional home inspector do a Home Inspection when you are buying a home. A home inspection takes two to three hours depending on the size of the home and complexity of problems. Home inspectors check over interior and exterior of the home and inspect the home from top to bottom.

 

Repairs can be costly if you have to replace an appliance, replace a heater or repair an electrical problem. The worst thing to face after moving into your new home is unexpected costly repairs.  Even small repairs can be challenging in a buyer’s financial security.

 

Purchase contracts can be written to allow an inspection contingency that gives the buyer the right to have a home inspector examine the property within a certain time period after the contract has been accepted. This allows a buyer to have any inspections determined to be necessary.

 

The contingency protects a buyer from purchasing a home that has serious problems or material defects. If you have a home inspection contingency in your purchase contract and find something extremely wrong with the home, you can choose to walk away from the transaction.

 

A home inspector may recommend additional inspections on the home inspection report. An inspection contingency in your contract allows you

to have other inspections you may choose to have including a pest, roof, fireplace, pool, well, septic, lead, mold and structural engineer.

 

Your contingency must be in writing and allow you to cancel the transaction if the property fails to pass inspection and get your good

faith deposit back. Don’t be too quick to back out because seller may

be willing to make repairs to correct problems.