A home inspection provides you with the opportunity to determine whether or not a home has any hidden damage that you should know about before agreeing to buy it. However, this is just one of the many benefits that these inspections can provide. Continue reading to learn more about three of these benefits so that you can better understand why you should never waive your right to an inspection before buying a home.
Waiving Your Right To An Inspection Can Limit Your Financing Options
Many lenders are hesitant to extend financing if the home you are planning to buy has not been inspected. Unless you are able to make an all-cash offer on the home or have access to alternative financing, you will likely find that choosing to waive your right to an inspection will severely limit the financing options that are available to you. In fact, in some cases, you may find that you simply are not able to secure financing at all unless you agree to have the home professionally inspected before closing on the property.
A Professional Inspection Can Strengthen Your Negotiating Position
A home inspection report will provide you with valuable information regarding the home's current condition that you can use to strengthen your negotiating position if you are hoping to pay less than the asking price for the property. For example, if the report indicates that the home will need a new roof in the next few years, you can use this information to negotiate with the seller and hopefully have the cost of your future roof repairs knocked off the asking price of the home. Best of all, if the inspection does not turn up anything that can be used to negotiate a lower price or if the seller is simply unwilling to negotiate, the results of this inspection cannot cause the price of the property to go any higher than it already is. Consequently, you truly have nothing to lose by following through with your right to have the property inspected prior to closing.
Professional Home Inspectors Are Trained To See Things Other People Miss
No matter how many times you tour a home before you buy it, you are sure to spot something new each time you are in the home. In some cases, you may spot potential problems with the home, while other times you may take note of a positive feature that you missed previously. The reason for this is that you are viewing the house from the point of view of someone who is looking to make this house their new home. A professional home inspector, on the other hand, is a completely independent party with no stake in the outcome of your real estate transaction. This fact, along with their training and experience, allows these inspectors to take note of things you may not see when touring the home yourself. Having this type of unbiased professional look over the home can help to ensure no nook or cranny goes unchecked when determining the current condition of the home.
For more information, contact a home inspector.Share