The Importance of Home Inspections
Buying and selling a home is a stressful time, it's almost guaranteed that this will be your biggest purchase in life. With that much at stake, making sure you aren't buying a problem, is paramount.
Buying and selling a home is a stressful time, it's almost guaranteed that this will be your biggest purchase in life. With that much at stake, making sure you aren't buying a problem, is paramount. A Home Inspector has a few jobs including an unbiased review of the condition of the house. You would never buy a used car just because it looks pretty, right?
It's also a great tool for a seller who may be unaware of an existing problem that a buyer's Home Inspector may find - which could result in a lost sale. Most buyers will add a clause into their offer, that makes the sale contingent upon an approved Home Inspection. Should any major problems be found, this clause gives the buyer the legal right to back out of the offer.
What happens during a Home Inspection:
- A top to bottom inspection of the house, including the attic. This is especially important to check for leaks in the roof and any mold from past leaks that were patched up. Mold can eat away at wood making your home structurally unsafe. The inspection will also cover the condition of insulation and any possible problems such as asbestos or rodent infestations.
- Basements can be a damp place especially if the home is old. Home Inspectors have a moisture gage that will detect moisture in the foundation. If someone is trying to hide a leak when it rains, this will detect the problem. Any cracks in the foundation can become a massive problem and should be addressed by the buyer.
- Inspections are done on the furnace, plumbing, electrical panel, plugs, and then labeled so you are aware of their location and whether they passed inspection. A Home Inspector can tell you how old the furnace is and give you a timeline on when it may need to be replaced.
- Appliances may look pretty on the outside but there could be damage in the back. A home inspection has the experience and training to recognize problems that you can't see. A broken washer or dryer could add to your move-in costs. If an inspector finds the problem you may ask the seller to replace the machine or reduce the purchase price before you agree to buy the home.
After the inspection, a detailed report is provided to the buyer outlining any red flags and a list of findings that could be addressed with a simple repair or maintenance. When considering a Home Inspection it's important to use a reputable company or someone who has been referred to you in good standing. A Home Inspector should be licensed in fields such as plumbing, electrical, structural and they should be fully licensed.
It is recommended by The Ontario Real Estate Association to hire a Home Inspector. For a list of Home Inspectors, you can contact them or ask your Real Estate Agent for guidance.
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