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Home Inspection for the Buyer

A home inspection will reveal that leaking roof, cracked foundation, mold, wet basement, just a few of the bad, read expensive, items that can be unseen by the average buyer.

Use a qualified professional home inspector to discover these kinds of defects before finalizing the purchase of a home. I strongly recommend that you walk with the inspector while he is doing the inspection. But don’t go up on the roof!

During the inspection the inspector can tell you about the features of the home that need regular attention and what is normal wear and tear on the building. He can also give estimates for the smaller repairs.The cost of hiring an inspector can be from $200 to $500 depending on the size and complexity of the residential property.

Always include a condition for an inspection in the offer to buy a home.

Here is the condition that I use in my offers to buy:

This offer is conditional until (-time and date-) upon the buyer obtaining an inspection by a qualified home inspector. Should the inspection reveal deficiencies that the seller is unwilling to remedy and the buyer is unwilling to accept then this offer shall be null and void and the buyer’s deposit shall be returned without interest or penalty. This condition is for the benefit of the buyer and may be waived at his sole option.

The home buyer inspection report will tell you about the property’s condition, what is not working and what needs to be fixed or is unsafe.
Canadian Association of Home and Property Inspectors (CAHPI)

If there are serious repairs to be made you can:

1. End the deal.

2. Renegotiate the agreement of Purchase and Sale to have the buyer make the repairs.

3. Renegotiate the agreement of Purchase and Sale to lower the price by the estimated cost of the repairs.

Your real estate agent knows how to negotiate this.

Reasons for a Structural Inspection by a Professional Engineer

1. Cracks in the foundation.
2. Sagging floors.
3. Fire, wind or flood damage.
4. Carpenter ant, termite or rot damage.

Here is a home inspection checklist.

Area to be Inspected………………Condition

Foundation

Exterior doors

Windows

Roof

Chimney

Exterior walls

Attic

Attic insulation

Plumbing system

Electrical system

Electrical panel

Heating/cooling

Ceilings

Interior walls

Floors and flooring

Interior doors

Kitchen cabinets

Ventilation

Septic or sewer

Water supply

Garage

Surface water drainage

Driveway

Common areas for condos
Other areas

Overall opinion of building

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Buy a Home Guide

SBI!