Thursday Feb 04th, 2016
With few exceptions this is a “must do.” Inspections are an important safety valve for you. A professional Inspector will check out all the major components of the home and provide a written report usually for about $450. This report will clearly spell out the condition of the major components of a home giving you a forecast of the life expectancy of the roof, furnace and appliances for example. The inspectors I recommend know their profession. If we determine that there is a problem that was not expected such as the life expectancy of the furnace then we will renegotiate the contact.
Every inspection will find a list of minor problems such as flashing not sealed properly, or grout missing in the bath room. The real issue is to find the significant problems and the cost to correct it. Then as stated in the Condition in the offer you can request the Vendor to correct the problem. before proceeding to firm up the offer. In some situations such as an older home the Vendor may be unaware of the problem.
A typical situation, uncovered by the inspector might be that the furnace can only expect to last for another few months. You would ask the Vendor to remedy this problem by purchasing a new furnace for you, The vendor represented by their agent may turn around and say well with a new furnace you will enjoy 20 years of good service as opposed to the 6 years you might have normally expected, so you pay half of the cost and the deal will be completed. But then again that may not be acceptable to you and with the right inspection clause you can walk away from this home at no cost to you.