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Home inspection a vital part of home buying
06-07-2011
Home inspection a vital part of home buying
June 7, 2011
Real estate agents say that sometimes a home inspection falls by the wayside when people buy a home. Sometimes, home buyers aren't eager to shell out between $200 and $500 for an inspection and decide they'll simply take the seller's word for it that the home is in top shape. However, a report from Investopedia said passing on a home inspection could be a costly mistake for home buyers.
It offers financial protection
A home inspection provides home buyers with the chance to re-negotiate a sale if they find out the home they are buying requires much more work than they are comfortable with. Professional home inspections can reveal defects and flaws that a home buyer may want to repair before they move in. Real estate agents told Investopedia a home buyer can cite a poor inspection as a reason to counteroffer during the negotiation stage or even ask the seller to consider making certain repairs before the transaction closes.
Additionally, Investopedia notes home inspectors can also provide home buyers with critical information on the age and efficiency of certain equipment, revealing areas where a home may need to be improved in the future. If a component or appliance is nearing the end of its shelf life, a home inspection can let a home buyer know he or she may need to think about replacing that unit in the near future.
It can reveal safety issues
Investopedia says an inspection can reveal hidden health hazards sometimes prevalent in older homes. Mold can develop in homes that go unattended for a long time. This type of issue can present major safety problems if not fixed beforehand, making a home inspection vital.
Similarly, radon and carbon monoxide threats can be revealed in a home inspection, protecting home buyers before they commit to the property.
It can protect a home buyer
Sometimes, homeowners make additions or adaptations to their homes without a permit. Those changes can sometimes be illegal and hazardous, something a home inspection could reveal. Investopedia recommends home buyers consult a home inspector and work with the seller to determine a course of action.
Additionally, some insurance companies won't cover a home if certain problems arise or without certain certification, making a home inspection that much more important for new home buyers, said Investopedia.
About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of approximately 83,000 sales agents working in approximately 3,100 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
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