This is the time when the home will be evaluated to make sure it meets minimum health and safety standards so that both buyer and seller have a clear understanding of the condition of the home at transfer.
Though no home is perfect, an inspection helps to eliminate surprises for all parties after the closing and ensures that the home meets city requirements. An experienced, outside professional is worth every penny. And you may want to add a home warranty to cover appliances and systems that could break down up to a year after you close.
Let’s look at three different kinds of inspections.
A Point-of-Sale Inspection
Is required to be performed before listing a home by some local municipalities. This inspection provides prospective buyers with information about the condition of the house and garage, and also helps to eliminate any health and safety concerns.
A Seller’s Pre-inspection
This type of inspection can expose hidden flaws in a property before it goes on the market. A pre-inspection will give the seller a chance to fix any issues that may deter buyers. While this will not likely prevent a buyer from performing their own inspection, it may go a long way towards assuring the buyer of the property’s overall condition.
A Buyer’s Inspection
Is performed after an offer has been accepted on a property. The purchase of a home is often emotional and a buyer’s inspection will give insight into problems before the purchase has been completed. A buyer’s inspection is optional to the purchase agreement but it does protect both buyers and sellers by recording the condition of the property at the acceptance of a purchase agreement to be contingent upon a completed inspection.