I feel like this topic may be a bit of a no brainer but for those new to the process lets go over why a good home inspection can save your life. Dramatic, sure, but true. The euphoria of buying a new home is second to none. This is certainly one of the largest investments of your life. During this time, you have many important decisions to make. None could be more important as the decision to pay for a home inspection.
Typically the buyer pays for the home inspection out of his or her pocket. Disregard the price which can be anywhere from $300-500 depending on the size of the home. This is another crucial investment that can literally save you thousands down the road.
Appraisal is NOT a HOME INSPECTION
Appraisers are not trained to provide a detailed look at the interworking of a home. The home inspector performs a much more detailed and scrupulous inspection. This can help uncover any deep-rooted problems or possible deal breakers that you cannot see from just walking around the home.
Sometimes it may feel like you may not need to pay the price of the home inspection. Maybe the home is a new construction or at least pretty new. You have walked around the home inside and out and didn't see anything that would seem like an issue. It still pays to pay for the expert in these situations. They are trained to go in and identify other possible problems such as plumbing, insulation, foundational or structural issues, electrical wiring, and much more. Don't trust the age as the default. Pay the money today and save on possibly having to do massive projects in the near future for issues that were present from day one.
Good news, the seller pays!
Typically the seller will be more than happy to cooperate to your concerns and fix anything that is pressing, needed, or will effect value. If the seller is in a crunch and can't fix it themselves, you can always negotiate an allowance on closing to take care of the issues after the home is sold to you. This way you at least know what is going on and you can use your own discretion on fixing the items you feel most important.
After everything is negotiated and done, you can rest easy knowing you have done your due diligence to take care of your investment in the best way possible. Please do me a favor, NEVER waive the home inspection. It pays to pay for the home inspection!
I hope you found this helpful and useful as you get ready to make your home purchase. Please use the resources here to help guide you whether you are buying or selling. Stay informed so you can keep your hard earned money in your pocket.
If you have any questions, concerns, or need support.. please email me directly at firstname.lastname@example.org .