Deciding to buy a house is perhaps the single largest investment that you will ever make. It is a wise decision for you to want to make sure that you get the best value for your investment. Some buyers are hiring Professional Home Inspectors to help them protect their investment. A professional Home Inspector will take a closer look to see what is under a house’s surface. They will provide a detailed report about the condition of the foundation, roof, insulation, electrical service and other critical structural factors.
The costs for a home inspection will vary, however, you can most likely expect to spend four to five hundred dollars for a quality inspection of a single family home. The home buyer is usually responsible for the cost since the benefit is for the home buyer. Consider this cost as an investment in protecting you for making a huge finical mistake. Sometimes in hot real estate markets, people will decided to not go ahead with a home inspection to secure a firm offer. With that said, it’s only a small price to pay to have peace of mind. Also knowing what's wrong allows you to budget for renovations and may provide you with some negotiating power.
When considering to make an offer for purchase, your Real Estate Professional can provide you with some advice on how to negotiate a home inspection as part of the offer. Governed by the homeowner’s permission, you can arrange a Home Inspection just before submitting your offer for purchase. This is called a "conditional offer" that’s contingent on a Home Inspection report that’s acceptable to you. This strategy provides you with some unique advantages. If the conditional offer is approved, the property is temporarily held against other offers. This will also give you a legal escape route if the report has some major negative surprises like a crumbling foundation. If the conditional offer is rejected, then you will have to consider the risks. Your real estate professional can advise you on the ideal approach to suit your market and your individual situation.
If you are looking for a Real Estate Professional or someone to connect you with an experienced trusted Home Inspection service in your community please let me know.
Mike Bolger, Sales Rep
Chestnut Park Realty Southwestern Ontario Ltd.
The Shops at Waterloo Town Square
75 King Street South, Unit 50
Waterloo, ON N2J 1P2
+1 (519) 616-2656