In sellers’ markets, some buyers opt out of getting a pre-purchase home inspection in an effort to make their offer more appealing to sellers. When home inventory is low and competition among buyers is fierce, waiving an inspection can help the seller move through the closing process more efficiently.
However, not getting a pre-purchase home inspection can lead to expensive repairs and other problems once the title is transferred to the buyer. Here are some of the top reasons why a home inspection is strongly encouraged before you sign a real estate contract:
- Find hazards and potential deal breakers before you commit. Some minor issues, such as squeaky doors or slight dents in the wall, can be cheap and relatively easy to fix. However, if the home’s foundation is cracking and will require thousands of dollars to repair, you might not be quite as eager to tackle that project.
- Predict future expenses. A pre-purchase home inspection can reveal key details about the age of a home’s plumbing and electrical systems, in addition to structural issues caused by general wear and tear. If you’re thinking about buying an older house, you might have to budget for new system upgrades that you wouldn’t need if you opted for a more recent build instead.
- Ensure your safety. A pre-purchase home inspection can include testing for radon, mold, carbon monoxide, carbon dioxide, lead paint, and other potential safety hazards. It’s best to know about any of these issues long before you get ready to move in.
- Negotiate with the seller. If a pre-purchase home inspection reveals several areas of concern, you can use this information to negotiate a lower price on the house. Some sellers will even offer repair credits that can be used to fix certain problems once you sign a contract.
Before you get too excited about a new home, make sure you get a home inspection first. Connect with our professional team at Top Notch Home Inspections for more information today!