When you are looking for a new home, you tend to see things “on the surface”. What you need to remember though, is that there is always more than what meets the eye. A home may look beautiful but the truth is it’s almost impossible to know about what may lye below the surface. Even after living in a home for years, a seller may not be aware of issues such as mold in the attic or a hot water heater that is about to fail. The home inspection gives the buyer an unbiased documentation of the home’s condition.
The biggest mistake that a home buyer could make is skipping or waiving the home inspection due to various reasons, like during a bidding war. And while a home inspection contingency clause is almost always included in a purchase contract, some buyers agree to waive the vital inspections to win their dream home in a competitive market.
The results of a home inspection can be a great tool for transparency and future planning, especially in estimating future expenses. Buyers can use the detailed findings to plan for future upgrades, calculate for repairs, and carefully prepare their budget once they become homeowners. Should a serious problem be discovered, the buyer can use the home inspection report as leverage when negotiating for repairs or a better purchase price.
While a home inspection may seem expensive at first glance, it is a small price to pay for saving you from costly repairs down the road. Things like safety hazards, pest problems, or water leakage in the basement can end up costing you a lot more money once you already own the home. (And all those issues and defects could have been revealed by a home inspector if you only allowed an inspection to push through.)
The home inspection phase can be a huge pitfall for both parties in a real estate transaction. Sometimes a transaction doesn’t move forward because the buyer and seller couldn’t agree on the repairs requested from the inspection. A buyer may not feel entirely comfortable with the findings while the seller may refuse to accept more requests. Having a home inspection ahead of time can help expedite the process for both the buyer and seller.
In a worst case scenario a buyer may get cold feet and may not proceed any further with the transaction if they’re not satisfied with the negotiations after the inspection.
A home inspection will eliminate any doubts and “what ifs” of both the seller and the buyer. In addition, having a home inspection done will make the buyer much more confident in their purchase, eliminating any buyers remorse and give them peace of mind about their purchase. The seller can also feel more confident once the real estate transaction is completed because they can avoid any legal action due to needed repairs after closing.
Taking the time and money to have a professional home inspection is a great way to make both the buyer and seller feel more confident that they have reached a fair and equatable deal in the transaction.
Michigan is one of a few states that still have not adopted licensing requirements for home inspectors.
In states that have licensing requirements for home inspectors, real estate agents and clients just want to see that the inspector is licensed. In states like Michigan that do not have licensing requirements, real estate agents and clients will should ask to see that you have been trained and certified in home inspection.
Certified home inspectors are those who have completed a course or study program; and then have a certificate of proof that the course has been completed. This certificate is not issued by the state, nor recognized by the state. Reputable inspectors are also affiliated a professional association for home inspectors such as the American Society of Home Inspectors (ASHI), or the International Association of Certified Home Inspectors (InterNACHI).
Author: Dani Hallsell, NextHome Victors