Why do buyers need a home inspection?
A poorly maintained home is susceptible to many security risks. A Home inspection services in Coquitlam can detect safety issues like carbon monoxide, mould and radon. Buyers should check that their home purchase agreement contains a clause that allows them to cancel their offer if safety risks are discovered.
Reveal illegal additions or installations:
Suppose the home has a tampered-with garage or basement that violates the code or was completed without the required permits. In that case, this impacts homeowners insurance, property taxes, and the home’s overall value. Furthermore, once the buyer closes on the house, those illegal additions become the buyer’s financial problem to solve.
The Home inspection services in Coquitlam report allows one to request repairs and/or apply for a price reduction or seller credit. Work with your real estate agent to understand what inquiries can and should be made to negotiate a better deal! If you need guidance in negotiating, ask Ben Weaver for the advice!
Forecasting future costs:
A home inspector can approximate the installation age of major home systems, such as plumbing, heating and cooling, and critical equipment, such as water heaters. They can diagnose the structure’s current condition and tell you how long the home’s finishes have been in. All components of the house have a “shelf life.” Understanding when they require replacement can help you make essential budget decisions and will determine what type of home insurance coverage or warranties you should consider.
Home inspections can help buyers identify how much extra money or effort they are willing and able to spend to bring their home to a personally acceptable condition. If you aren’t willing to fix problems like bad gutters, cracked walls or roofs, you may not be ready to complete your home-buying quest. This is not the time to settle!.
Why sellers need a home inspection
The home buyer will likely hire a professional inspector to check their home. You can hire a home inspector to do a pre-inspection as a seller. That way, your buyer’s inspection shouldn’t hold any surprises you weren’t prepared for. When the buyer discovers hidden problems, it will scare them away or reduce the value of your home.
Deciding whether or not to make repairs:
Once you have the inspector’s report, you have two options: make the repairs or lower the sale price. When the repairs are minor and relatively inexpensive, it’s a good idea to go ahead and do them. Also, if it’s a big problem, like a leaking roof or fire hazard, you’ll want to fix it because there are fewer issues to disclose to the buyer.
Protection against lawsuits:
In 1994, the Illinois legislature added vendor disclosure obligations to Illinois statutes. This means that when selling a home in Illinois, you must provide certain information to prospective buyers regarding the home’s physical condition. This includes code violations, environmental issues, and more. This information must be returned before the sales contract. Otherwise, the buyer has a lawsuit against the seller if he decides to sue the seller for hidden issues.
You may be able to close faster:
Anticipating repairs and knowing about problems before the buyer’s inspector finds them helps speed up the process of selling your home. Sellers can start repairs with a pre-inspection, saving everyone time in the long run!
You could list your home for more information:
If you decide to make some repairs, you could increase the value of your home… putting more money in your pocket. Who doesn’t want that? Making sure your home is pristine will increase your leverage in negotiations when new repairs are due.
Are you looking for a trusted home inspector in your area? All Happy Home Inspection has the resources to help you find the right fit! He has experience in the Coquitlam area and can provide you with solid advice from trusted home inspectors.