The Power Of A Home Inspection

One way a home buyer can gain power when purchasing a home is to order a home inspection. The information gained in the inspection report can help you to make informed, wise decisions that preserve your wealth and investment in the property.

Low housing supply and high buyer demand in this unprecedented seller’s market have buyers writing the most competitive offers possible, and one way buyers are trying to compete for a seller is by waiving a home inspection.

Let’s look at why that may not be the best move! When making a choice, any choice, the quality of information you have, your understanding of it, and your ability to use that information is power.

When buying a home, it’s important that you keep your best interests top of mind, which can sometimes be difficult during the emotional process of buying a home. The knowledge you gain from a home inspection can be used in many ways to protect your financial interests and bring clarity to the purchase process.

Some common issues that are uncovered during a home inspection are, but are not limited to:

• Faulty appliances

• HVAC issues

• Rodent and/or pest presence

• End of life plumbing and/or electrical issues

• Aging roof and possible subsequent property damage

Once these problems are identified there are three main options for buyers to take:

• Negotiate with a seller for repair.

• Negotiate with the seller for a credit, or a reduction in purchase price before the close of escrow.

• Use the inspection contingency to cancel the transaction saving yourself from purchasing a problem home.

The bottom line is that a home inspection is a valuable tool that provides you negotiation power, gives you actionable information, and helps prevent you from facing problems down the road as a new homeowner. Without a home inspection, costly and time consuming surprises could set you and your home investment back!