Millions of Real Estate transactions happen on daily basis and it is important for buyers to protect themselves in as many ways they can. One of the simplest is to hire a home inspector. Home inspection offers both the immediate and long term benefits to the buyer. It can also be beneficial for the seller as it can avoid deal-breakers. If the issues and problems can be resolved before being identified by a potential buyer the seller has more chances in getting their asking price. In general, it’s worthwhile to get the inspection done for both, sellers and buyers.
The buyer gets benefits in several ways.As the buyers invest a sizable chunk of money to buy a home it is important to identify any deficiencies that may cost extra money and stress, an inspection by a qualified third-party will disclose the facts. All the serious, major and minor defects are revealed. In some cases there may be some critical structural defects that may be as good as rebuilding the house. Or, the defects may eat away a lot of money and time to rectify them. They may not be able to use the house at all till those are taken care of. There can be some problems related to the safety of occupants, which are to be removed before moving in.
Another benefit inspection offers are that the buyer can get quotes for needed repairs and uses them to negotiate the price with the seller. Moreover, a home inspection eliminates buyer’s remorse about the problems later on.
The home inspector will check and report about ins and outs of the property, areas like basement, structural, construction and safety issues, condition of the roof, and electrical, water lines and heating, air conditioning or ventilation systems. That will ensure to the buyer what all needs attention to repair or replace and he can get the quotes for evaluating the costs involved and the buyers can plan what should be done when and make their budget.
When it comes to disadvantages of hiring an inspector, there isn’t really anything major, except incurring some expenses for inspection. The cost is small in comparison to saving that can be achieved. Of course a qualified and in-depth inspection is key here.
A seller also benefits from a home inspection as he/she can avoid problems later on. Before listing the house for sale, a home inspection will help the seller to recognize the potential problems with the home and they can be addressed before showing the property to buyers. Multiple quotes fir repairs can be obtained and a proper job done as oppose to making urgent repairs 2 weeks before closing. This cant cost a fortune.
Most importantly, all issues and problems resolved before the buyer shows up. If a seller is not ready to allow inspection, and is firm on the price as is, the likelihood of a fast sale or a sale at all is very small.
A home inspection gives confidence to both seller and the buyer. Seller can prepare for the sale of the home, reduce problems and get a better price. They can also eliminate the chance of over-inflated estimates presented by the buyers at the time of the negotiations.
So overall, home inspection is a great way to minimize risk, increase property value and avoid hassles and waste of time, energy and other resources, both for buyers and sellers alike.