Inspections – A Wise Idea?
April 24, 2008
How do I put this? YYEEEESSSSSS!!! Everyone knows at least one person who’s done it. You know, that person who purchased a home without doing at least one or a thorough set of inspections. Someone who moved in and then found out months later their home was riddled with unknown issues. How about the couple that moved into a home only to discover a room existed with a toxic mold issue?
Buying a home is one of the most important and expensive decisions you will make. It is always a wise idea to obtain inspections when purchasing a home and in particular, prior to removing contingencies. The beauty of the inspection process is that it assists in identifying and disclosing defects in the structural and mechanical systems of the home. The reality is that these defects could be any condition that significantly affects the value, desirability, habitability or safety of a dwelling. Several types of inspections could be involved in a real estate transaction. The most common are pest (termite), roof, and general home inspections. Some Buyers also choose to perform specialty inspections like pool and spa, drainage, mold, chimney and others.
A general home inspection is designed to provide comprehensive but not all inclusive information about a property’s existing condition. It also is a good starting point to identify potential “red flags” that may exist. Keep in mind, home inspections do not relieve the Seller from disclosing the material information they are aware of pertaining to their home. In a real estate transaction, Sellers are required to fill out disclosure paperwork that documents a history of the home. Also, having a home inspection is not a guarantee to the Buyer that every possible defect will be found and reported on. It is, however, one of the protections a Buyer can obtain to understand the condition of a home.
When representing a Buyer in the Tri-Valley area, I always suggest performing as many of the different inspections as possible and early in the escrow process. Experience has shown that this is a strategic way to control certain aspects of our sale. We can then work with what we know to build a game plan, whether it is strategic pricing or fixing potential defects.
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