Homebuyers and sellers will do well to know a thing or two about the process of home inspections. Making informed decisions about the home you hope to buy, or the one you plan to sell, is an important step as part of your financial considerations.
“You’ll want to be aware of the processes around home inspections and know what they do and do not normally cover,” says Lincoln Thompson, a broker-owner with Royal LePage Gardiner Realty in Fredericton, New Brunswick. “Defects or problems can factor into your pricing considerations and negotiations. Conversely, as a seller, you may choose to have an inspection and undertake repairs before you list your home. As a buyer, you can include repairs identified in the inspection to amend the purchase agreement in a variety of ways.”
Here are key guidelines to help along the way:
• A home inspection is a visual assessment and report based on what is observed on a certain day. As such, a home inspector cannot see or find everything. For example, they may not be able to inspect certain areas concealed by snow.
• As a buyer, you are paying for an objective opinion on the home. If the inspector comes on referral from your agent, a good agent will ensure the inspector understands that you are the client.
• Understand the parameters of the home inspection and that having one is not a warranty or guarantee.
• There is no such thing as a perfect house. Don’t be concerned if the inspection reveals some problems. Use this information as part of your negotiations, or as a seller, have an advance inspection and take care of necessary repairs before you list the home.
Buying or selling a home can be a rewarding experience. When you get the facts and can expect the best from the people who are there to advise you, a home inspection is an important tool in your decision making.
More information is available at www.royallepage.ca.
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