Protect Your Investment with a Home Inspection

Buying a home is both an exciting and exhausting process that millions of Americans aspire to on a daily basis.  Although the process of purchasing a home seems rather straightforward, there are a few details that must be remembered and attended to before you reach the closing table.  One of the most important things you can do, though most homebuyers try to avoid it, is to requisition a home inspection prior to signing on the dotted line.

What a Home Inspection Can Tell You

A licensed home inspector will perform a detailed examination of the home you’re about to purchase to ensure major problems don’t currently exist with the property’s main structure.  This inspection will include reviewing and checking for the following:

• Electrical systems
• Plumbing
• Heating and air conditioning units
• Roof
• Basement and foundation
• Structural storm or termite damage
• Lead paint
• Environmental hazards
• Mold

If any of these are found to be substandard, you and the seller of the property will be informed.

What to Do If There’s a Problem

If your inspector finds an issue with the property you’re trying to purchase, you do have some recourse before proceeding toward closing.  Major problems may deem it necessary to completely abandon the property and look for another one which suits your needs.  You may also choose to ask the seller to fix the issues as a condition of closing, or provide enough concessions to fund their repair.  This may result in a lowered sale price, or new construction and repairs at the cost of the seller.

How a Home Inspection Protects You

Home inspections are such an important part of real estate transactions because they protect the buyer from potential extensive monetary losses.  If you complete the closing process and discover later that there is a significant structural or system issue in the home, you will have no legal recourse if you refused and were offered the opportunity for inspection.  Of course, the inspector may be liable if he or she missed one of these issues as well. 

Consult a Real Estate Attorney

As a potential buyer of real estate, protect yourself by retaining the services of a qualified and licensed real estate lawyer.  These professionals can advise you of the best actions to take during the buying process in order to protect your health and long-term financial well-being, and will gladly act on your behalf to negotiate favorable terms in the final transfer of property ownership.