Home inspections can help you identify essential problems in a home, including the nature and extent of the defects either if it is a major or minor defect. The importance of this critical step cannot be overstated, though it gives many advantages to the home buyers and sellers.
For home sellers, an inspection can identify problems that might halt a home sale and gives sufficient time in advance to fix them. These repairs and upgrades could actually increase the property value and allow the home to be listed at a higher and more accurate price, potentially also could be labeled as recently renovated (depending on what repairs were made). The inspection could facilitate a faster closing at a higher price.
For home buyers, a home inspection can identify major issues, as well as safety issues, in a home before closing that could prevent costly or unexpected repairs after purchasing the home. It gives the buyer leverage for negotiation; some problems in a home could result in a lower sale price and/or ask for a credit, or the buyer could request the seller fix the issues at their own expense. Many home inspections give the buyer the ability to walk away from the sale if the issues are not fixed to their satisfaction, always according to the nature of the contract.
With full knowledge of the home before buying, a buyer will have the confidence in their purchase without fear of “buyer’s regret.”
A home inspection can also facilitate being approved for home insurance. Additional inspections for things like radon testing, lead-based paint testing, mold testing, wind mitigation or pests’ inspection, including looking for evidence of past damage even if you don’t currently need a mitigation, can help you save on insurance premiums and qualify you for a better price.