House inspections are mandatory when you are about to either sell or buy a house. The procedure alerts both parties about the current condition of the home in question. A seller should inspect the property to be aware of any potential issues with the property he/she is selling. Hence, the problem can be fixed before the prospective buyer pays a visit.
If you are a buyer, then you must have a separate inspection conducted through a professional house inspection service. It may cost a little but will save you high costs in the long run.
Benefits of a house inspection
Conducting house inspection will help bring forth any hidden issues in the property. It will help you negotiate your contract, keeping potential problems and repairs in mind.
1. As a purchaser- Having a professional home inspection will throw light upon the pros and cons of the property in question. Hence, the buyer will be in a position to make an informed choice.
2. As a vendor- A professional house inspection is a high selling point for every vendor. Not only does it allow the seller to highlight the most robust features of the house, but it gives the buyer the impression that there is full disclosure. Hence, the seller is in a position to prepare the property for sale for the maximized selling price.
3. As a realtor- A professional inspection strengthens the relationship between the agent and the purchaser. It helps develop a long-term agent-client relationship and referral network. A satisfied buyer represents potential listings and commissions in the future. There are instances where a purchaser might apprehend additional repair costs and may appear to be reluctant. Presenting a professional house inspection report will clear ambiguity and put the house and transaction into perspective.
4. Down payment- The lower down payment requirements on property purchase have put lenders in a risky position. It is because the lender may end up holding property with serious deficiencies that may not realize the equity value of the loan being offered. So, a house inspection enables the purchaser to prepare in terms of purchase and additional repair costs (if any).
5. Lawyers- A lawyer works in favor of the buyer who hires him. So, any lawyer will educate their clients about a professional home inspection and have it executed on the property to be purchased before the purchase contract has been made. It will prevent possible litigation after contract signing and completion of the transaction.
What is expected from home inspection service?
A buyer who chooses to go in for a professional inspection must be willing to bear the cost, but it is worth it since it may save the buyer a fortune. The home inspector enters the property and analyzes every major factor which contributes to the purchase decision making.
1. A home inspector must take time and thoroughly review the inner and outer areas of the house. He must check the old piping materials, faulty fixtures, water pumps, geysers in the plumbing department, etc.
2. A house inspector will also check the roofing and walls to see if there are any leakages or cracks. It will determine if the roof has to be replaced or need any repairs. He will check if any structural issues exist. It is essential since a home’s foundation plays a vital role during natural calamities such as earthquakes and landslides.
3. Heating and air conditioning systems are also checked. It is because heat distribution pipes and air ducts are usually the cause of concern and bear high cost during repairs. Electrical wiring, infestation, mold, frame rot, and floor joists are a few other vital aspects of house inspection.
A proper house inspection will make the purchase and settlement process easier. The buyer will be able to buy the house with the quotation offered by the home inspector.