Monday, March 12, 2012

The Importance of A Home Inspection

With the housing market continuing to spark bidding wars, there are buyers out there that are presenting offers without the benefit of doing a home inspection.  They feel that this will make for a 'clean' and 'strong' offer and will make it more acceptable to the seller.

Big mistake.  Major problems are found after the fact and you, Mr. or Mrs. Buyer, have to come up with more money for the repair.  Buyers become very unhappy.  The home inspection is far from perfect.  But, it is the best way at this time to safeguard your investment.  It gives you the opportunity to either accept the repairs or walk away from the deal and go to the next property.  Yes, large repairs should be divulged, but there may be issues that not even the sellers knows about. 

We have all seen the Mike Holmes Inspection programme.  Most inspectors cannot rip apart a wall or floor to find out if there are any hidden issues or potential problems.  But, the inspectors are able to identify plenty of trouble spots.

These are:
1)  Knob and tube wiring.  This would make it difficult to get insurance coverage for your new home.
2)  A 60-amp elebrical service when normal is 100 or even 200.  Again, insurance issues.
3)  Galvanized plumbing.  Old lead pipes are a health risk. 
3)  Any roof over 20 years of age should be replaced.
4)  Old fouindations will gradually deteriorate causing leaks and are an expensive repair.
5)  Windows could be an expensive upgrade.

There are inspectors out there that use Thermal Imaging Technology which can detect problems with structure, moisture and/or air leakage.  Is there sufficient insulation, plumbing leaks which can lead to problems later on. 

Pre-lsiting inspections are becoming more popular, but as a buyer you should be hiring your own inspector.  You want the person that you are hiring to prepare the report to make you aware of issues, large or small, that may affect your ability to enjoy your new home.  Having an inspection done prior to a bidding war does not assure that you will be the one that gets the home.  You may pay for it and then lose out in the end.

As a real estate agent, I work with many home inspection firms and can usually get one done within 48 hours.  As a buyer, don't ever get pressured into purchasing a home without an inspection, especially for older homes.

By doing a home inspection, you have more choices in the end.  Always make an informed decision as to whether to purchase a home or not. 

Betty Bartusevicius, Sales Representative  ASA
RE/MAX Realty Specialists Inc., Brokerage
OFFICE: 905 828 3434
Direct: 416 427 1875

Email: betty@bettybart.com
Web Site: http://www.bettybart.com
Fine Homes in Nine Oh Five

PERSISTANT AND PATIENT IN GETTING RESULTS!!! ALL REFERRALS ARE GREATLY APPRECIATED

not intended to solicit buyers or sellers under brokerage contract



1 comment:

adleerity said...

Home inspection recommends preventive measures to resolve potential problems. Home inspector can help us to have a clear understanding of the home, so that we can make confident decisions about the purchasing materials.


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