In today’s market I have seen buyers getting some amazing deals when purchasing bank owned properties. Many of these homes have been stripped of items such as stove, microwave, dishwasher…etc. And in some homes I have found that even the hot water heater has been removed. However, with the banks selling these homes for such perceived deals, I have noticed some buyers are hesitant to spend the money on a home inspection, thinking that whatever the issues are they will be easily covered or off set by the amazing deal. Perhaps they may feel somewhat intimidated by the bank, thinking they should not rock the boat.
A thorough home inspection goes far beyond the glaring obvious of missing appliances. In fact a good home inspector can mean the difference between living happily ever after in your new home or sinking your life savings into a money pit…only to realize that you have made a horrible decision and now wish that you had never seen the property.
Home inspections, when provided by a qualified inspector who is affiliated with an association such as InterNACHI will bring to light the overall health of the home. These inspectors are held to high standards of practice, and are qualified to understand all the components of a home, clarifying such questions as; does the home have good solid roof trusses? Are they sagging? How do the truss plates look? Are they tight? How about the electrical components of the home? Are there any circuits double tapped? Are there any open grounds? Items such as attic insulation and duct work, air conditioning unit, Heater, vent systems, gas and gas valves, water system and plumbing. These are items that may not be working properly and are certainly not obvious to most buyers, yet they are the very things that when not working or broken could change your dream home to a nightmare very quickly.
A home inspection covers all the items listed above and much more for a relatively modest fee. Even if the buyer is not planning to negotiate for repairs after the inspection, they will at least have the knowledge to budget for future repairs; which prevents being caught blindsided and unprepared. A home inspection truly is about the cheapest insurance you can buy when purchasing a home.
Remember…Information is your best tool for managing risk!
By David Hubler