When you decide to purchase a home, it's a pretty scary situation due to the financial risk involved. You will probably be making the biggest investment of your life, so protect yourself from making an emotional decision and ignoring possible flaws in the home of your choice by hiring a property inspector.
The property inspector should give you a detailed report on the condition of the property and highlight possible flaws or potential maintenance needs. An independent property inspection is a major part of the purchasing process, so look out for the following factors.
On completion of the inspection, strategise on your way forward. If the inspection was faultless you are on your way to a new home. If not, extra negotiations may be the next step.
By Karen Lancaster
The property inspector should give you a detailed report on the condition of the property and highlight possible flaws or potential maintenance needs. An independent property inspection is a major part of the purchasing process, so look out for the following factors.
- As a buyer, research your proposed purchase before you commit to buying. What are the seller’s property disclosures? What issues would you like the inspector to watch out for? Know what you’re getting into so that you prevent unwanted surprises further on.
- If you’re getting a good price on the home, you need not bother too much about small repairs, but if you’re paying a high price and find flaws, then you need to negotiate using the inspection report as your negotiating tool.
- The estate agent should have a good general knowledge of the property and can be asked to address any of the issues that are found in the inspection report.
- Generally the buyer hires a property inspector, who should be qualified and reputable. Most buyers find a property inspector from their estate agent's referral and the buyer pays the bill. A reputable property inspector will be unbiased and independent. They will highlight things that need to be addressed within reason. The inspector remains impartial throughout the process and should give you a detailed report on the condition of the property.
On completion of the inspection, strategise on your way forward. If the inspection was faultless you are on your way to a new home. If not, extra negotiations may be the next step.
By Karen Lancaster