As a buyer or a seller, hiring a professional home inspector is essential in evaluating a home and its condition as it relates to comparable properties in today’s market. This is a helpful step in getting the most out of the sale or purchase.
Home Inspection for the Seller
As a seller, it is not as common to hire a home inspector. However, adding this step to the listing process can potentially eliminate unnecessary stress. Not only will it point out issues that may cause a potential buyer to hesitate but having an in-depth report of everything in the house will allow the seller and the REALTOR® to price the home accurately.
This report can be made available to potential buyers, which may expedite the selling process by avoiding a conditional offer based on a buyer’s home inspection.
Home Inspection for the Buyer
As a buyer, even if the seller does provide a home inspection report, that doesn’t eliminate your option to get an inspection done independently.
A home inspection will inform the buyer what additional costs might accompany the home’s purchase price, especially if any repairs or maintenance need immediate attention. If the cost of those upcoming repairs is higher than ideal, then there is an opportunity to negotiate further, request repairs or move on to a more desirable home.
In addition to identifying repairs and maintenance issues, a home inspector will also test the home’s environmental safety, including mold, carbon monoxide, and radon.
Building codes can change over the years, and a home inspector can inform buyers of systems, renovations, or new additions or alterations that may have been up to code when initially installed but are now not to code. Even if it hadn’t been the buyer’s responsibility, it would have become their responsibility after purchasing the home, which may mean more financial investments if making any changes.
A home inspection can also help the buyer in their negotiations. If an inspection report returns with issues, the buyer may need to put unexpected money into repairs. The buyer then has the opportunity to either request the repairs be done by the seller or ask for a reduction in the purchase price to offset the repairs needed.
In addition to informing the buyer of immediate costs, a home inspector notifies the buyer of expenses that may arise in the future. A home inspector can give an informed approximation of the installation ages of plumbing systems or water heaters, as well as the remaining life expectancy of the structure and fixtures in the home. This information can give the buyer an idea of what kind of budget and insurance they may need if they purchase the property.
Most often, a buyer has predetermined ideas of what they are willing to do regarding maintenance and repairs on the home. Certain issues or red flags may result in them passing on the property. A home inspector can work with a buyer and ensure they have clear information to make an informed decision.
Finally, a home inspection may impact property insurance. Insurance companies may have conditions on the home that must meet their policy requirements. An example of this may include a WETT certification for a wood-burning fireplace.
The fast-paced real estate market in Burlington, Ontario, can be confusing if sellers and buyers don’t have qualified professionals as they go through the process. A home inspector is another member of the team of professionals who will help both sides of the equation feel more at ease.
Contact a Full-time REALTOR® today!
Looking for an experienced REALTOR® who specializes in the Burlington real estate market? At Royal LePage Burloak we are here to help you with your real estate needs!