The housing market is extremely competitive and buyers are constantly at bidding wars. In fact, buyers are making offers on homes that exclude a home inspection. This is appealing to the seller, however, it can be very risky for the buyer.
A home inspection is a professional examination of the physical structure of your home including the foundation, walls, roof, plumbing and electricity. The homebuyer is usually responsible for hiring and paying a home inspector. Choosing a home inspector is important just like choosing a Realtor or loan officer so getting referrals is a good idea. It is a good idea to be present at the home inspection as the inspector can explain anything he finds that is questionable. Every buyer needs to remember that homes will have normal wear and tear and this is not something a home inspector includes in their report.
Professional sales agents will tell you not to waive your home inspection. Buying a home is one of the biggest purchases someone can make. Costly repairs can hinder your finances. Home inspections are a safety net that a buyer should use no matter what. Home inspections reveal big problems such as a poorly repaired leak, improvements made not up to code, and faulty plumbing or electricity work.
Home inspections are also a bargaining tool for a buyer. A buyer can negotiate repairs or pricing if the home inspection finds concerns. Every buyer wants to have a home inspection that will give them a full picture of what they are purchasing.
