Hot Markets: Yes, Your Buyers Need A Home Inspection!
Many buyers in today’s red-hot real estate markets are tempted to forego the home inspection. An otherwise strong offer may not even be considered if it has contingencies for the inspection or appraisal for example, yet there are abundant reasons why a home inspection should be a necessity even if it isn’t part of the sales contract.
First, the home inspection allows the potential buyer to learn about any major defects or damage that will need to be addressed. Things like a new roof or repairing a foundation are costly and will need to be budgeted for, on top of all the usual costs of homeownership like property taxes, mortgage payments, insurance and regular maintenance.
Second, the home inspection can reveal potentially dangerous conditions. The electrical system may be outdated or have faulty and unsafe wiring. The panel could be undersized and unable to meet a modern household’s needs. There could be safety issues with the furnace or fireplace that need to be addressed. If the buyer is unaware of existing conditions, it can put them in harm’s way.
Third, a home inspection is also the best way for a buyer to get to know the condition of the home in general. Is the attic adequately insulated? Is the water heater on its last legs? Is that water stain caused by an active leak, or is it not really a concern? These are just a few more examples of how buyers can really benefit from having the home professionally inspected. In short, the buyer needs to know what they’re buying. Whether or not it’s part of the transaction process or takes place after closing, a home inspection is in the buyer’s best interest and is key to their peace of mind.