Buying a home usually calls for a home inspection in the middle of the process. This inspection is a good time for buyers to get a sense for the condition of the home before they are on the hook to buy it. Knowing what to expect before, during, and after the home inspection helps buyers prepare to take the next step be that anticipating future home improvements, or backing out of the contract altogether.
Home Inspection Basics
A home inspection involves a routine examination and test of the home's major structure and systems. The inspection usually happens shortly after both parties have signed the purchase contract, as a way to identify and address obvious problems quickly. Some of the tests are dependent on weather. A home inspector may not be able to look at the roof condition or test the function of an air conditioner in the middle of winter.
In addition, a home inspector could determine whether the appliances are functional, but might not have information about equipment's overall efficiency. As such, the home inspector may recommend additional services if the inspection brings up concerns. For example, a home that seems to have questionable ventilation or moisture control may need additional mold testing.
During the Home Inspection
Experts generally recommend that home buyers try to attend the home inspection. Home inspections range from 2-4 hours long, depending on the size of the home. People who cannot attend the inspection should find out if they can come briefly at the end for a recap of the findings. Participating in the inspection offers an excellent opportunity for buyers to get a longer, careful look at the Esquimalt home outside of its staged effects, with the benefit of expert eyes.
Buyers should ask questions about things the home inspector sees, so that they have a feel for what may come in the report. At the conclusion of the inspection, the inspector will answer questions and tell buyers when to expect a copy of the report.
After the Home Inspection
Buyers who participate in the home inspection to some degree should have at least an idea of what the home inspection report will contain. This report may be long and quite detailed. It could take some time to completely read and process the information within. In the report, the inspector identifies the condition of various structures and systems in detail. They may make several suggestions about requesting additional testing or bringing in professional services to make repairs.
Handling Home Inspection Results
Ultimately, the decision of what to do about the home inspection results sits with the buyer. Even homes in the best condition are likely to have a couple of small items turn up on the report. Buyers have to decide what they want to do about all suggested repairs. They may decide to:
- make all the fixes themselves after they take ownership
- ask the seller to bear the cost for some repairs, either before closing or in the form of a lower purchase price
- cancel the purchase contract on an inspection contingency
If the buyers have paid for the home inspection, they may not be obliged to share the results of the inspection with any other party. However, providing this information to the buyers' real estate agent could help their agent target suggestions to the buyers' benefit.
Getting a home inspection is an objective look at the property, to determine its condition at a certain point in time. Buyers have the ability to determine what they want to do with the results, as the first major step they may take as new owners of the home.
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The Neal Estate Team is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 4,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Team have the industry experience and market knowledge to help you make smart and informed buying or selling decisions.