| If you have purchased a house last year, when the | | | | the home from top to bottom and depending on the |
| market was crazy, a home inspection may not have | | | | size of the property and scope of the inspection; this |
| been an option for you at the time of purchase. With | | | | may take from a few hours to half of a day to do a |
| multiple offers flying in on almost every property, the | | | | thorough inspection. |
| offers with the least conditions were sold first and | | | | Usually after the inspection it takes a couple days for |
| this meant skipping a home inspection. | | | | the report to be finalized, although we have had |
| Conditions are a point or points in the Real Estate | | | | some inspectors print their reports out on site. The |
| sales contract that needs to be met prior to the | | | | final report will have information on the major parts |
| buyer finalizing their purchase. Common conditions are | | | | of the home including, the building structure, plumbing |
| home inspections (to confirm there are no major | | | | and heating, electrical, and landscaping. Most reports |
| surprises), financing conditions (to ensure the banks | | | | even include information on the remaining life |
| will finance you), and now even the condition of | | | | expectancy of major items such as the roof, furnace |
| selling your current home. There is usually a seven to | | | | and hot water life. |
| 14 day period where the buyer has to have these | | | | Armed with this type of information you can go into |
| conditions of the sale removed and then from that | | | | the purchase of your new home with your eyes |
| point the contract is legally binding. | | | | wide open. If the seller neglected to mention the |
| Without any conditions, the buyer can be in a | | | | furnace was on its last legs this may give you some |
| hazardous position. If they cannot purchase the | | | | additional bargaining power. Or if they had considered |
| property, the seller has the legal right to sue the | | | | this, and priced it accordingly you can find out in |
| buyer for breach of contract. This could result in a | | | | advance what your costs to replace it immediately |
| large penalty, or even forcing the buyer to carry | | | | will be so you are not taken by surprise after your |
| through with purchasing the home. | | | | purchase. |
| Imagine putting an offer in on a property without | | | | Some discoveries may be so costly as to dissuade |
| any home inspection conditions and then finding out | | | | you from even removing conditions and thus saving |
| from your lawyer that the home was formerly a | | | | you from purchasing the proverbial money pit. This is |
| marijuana grow operation and was never properly | | | | why the inspections are so important for a buyer. |
| remediated. This is on the extreme side, but even | | | | Home inspectors can be found in the yellow pages, |
| discovering the basement was wired incorrectly and | | | | via referrals from friends who have recently |
| without permits could cost the new owner hundreds | | | | purchased homes or if you are purchasing with a |
| to even thousands of dollars. | | | | Realtor, they will have several they can usually |
| Now with the current buyer's market occurring, | | | | recommend. Don't buy your next home without an |
| where many sellers are eager to look at any offer, a | | | | inspection, it is simply too large a gamble to take with |
| home inspection should be one of the first conditions | | | | such large sums of money. |
| in any offer. A qualified home inspector will inspect | | | | |