Why Do I Need A Home Inspection?Download Our Free Real Estate Guide
Are you wondering why you need to have a home inspection performed on the house you are buying? In this video, Buffalo Real Estate Attorney Richard H. Cole explains the importance.
- As a buyer, it’s very important to understand the importance of the home inspection. The buyer retains a licensed expert to evaluate the house’s mechanicals, structure, and cosmetic features and provide a complete picture of the house, including all its strengths and weaknesses. The results of that inspection are shared with the buyer, the buyer’s realtor, and the buyer’s attorney, who will decide as to whether any deficiencies need to be addressed.
- First and foremost, anything that makes the buyer so uncomfortable that he wants to walk away from the transaction – such as major foundational issues or the need for a new roof – is an opportunity for him to walk away from the transaction, regardless of the contract.
- For less severe deficiencies that present health, safety, or code challenges, the buyer may request the seller to address those issues before closing. At that point, the seller is not required to remedy those issues; but, if they want to move forward, they will have to do so. Since they’re likely to face the same issues with the next potential buyer, they will probably repair such defects or give the buyer a credit to cover the cost of such repairs.
- Last, but not least, unless you’re buying a brand new house, there are likely to be cosmetic issues or minor flaws, and the buyer may not want to bring up every little problem during negotiations with a seller because that could discourage the seller from moving forward with the transaction.
- Small cosmetic issues and minor repairs can be addressed by the buyer over time and at his convenience.