A Home Inspector examines every detail of a house looking for defects and or damages you may not catch on your own. A home inspection is a limited, non-invasive examination of the condition of a home, often in connection with the sale of that home. Home inspections are usually conducted by a home inspector who has the training and certifications to perform such inspections.
How do I choose a Home inspector
In Canada, most home inspectors complete an accredited program and if you want assurance check to ensure the home inspector belongs to the Canadian Association of Home and Property Inspectors (CAHPI). Don’t hire the first inspector you find in an online search instead ask for a referral from a trusted friend, family member or your Realtor®. Carefully research a home inspectors qualifications, knowledge of building codes, experience and references. Make sure you attend the inspection and take pictures of anything that needs repair.
Pre-list Inspection by Seller
Some sellers choose to get a pre-listing inspection so they can identify any damage or disrepair before listing their home on the market. They can then take any necessary steps to fix or disclose the issue before accepting an offer. Knowing ahead of time the condition of systems and structural components will prevent any surprises when the buyers inspection occurs. If the seller doesn’t wish to repair issues they can document the issue on the Property Disclosure statements and possibly research and provide qualified prices for the cost of the repair. If the seller does have repairs completed also disclose and provide receipts of the work completed.
What is an inspection report?
An inspection report details a homes exterior and interior structural condition. Some of the components checked are electrical, plumbing, roof, insulation and ventilation, heating and cooling. The inspector gives each component or item a score of below average, average or above average. Some reports are quite detailed having a sections for observations, notes and details about the key components. Make sure your report is signed and dated by the Inspector.
Home inspection for Buyer
A home inspection provides the buyer with confidence in the home they’ve offered on and to make them aware of any issues present in the home. Buyers may wish for the discovered repairs to be fixed by the Seller before closing by a professional or request a lower asking price. Its critically important to have a home inspection done on a property and rate critical components so you can make much more informed decisions.
When does a home inspection happen and what happens next?
A home inspection occurs after an offer has been accepted by the Seller and the home is under a purchase and sale contract. After the home inspection is completed and the report is reviewed by the Home Buyer they may wish to address needed repairs. Meet with the Realtor to prepare requests in writing for the Seller. At this point the Seller may refuse to get the repairs completed and terminate your offer or agree to complete the work or agree to a lower purchase price to cover the costs of having repairs done by a professional.
What if the home fails inspection?
Usually a home inspection report won’t come back as a Fail but it won’t necessarily come with a perfect score either. A number of components could come back with an Average score noting a few defects. However, only major issues called “Material defects” are serious enough to adversely affect the value of the property. Material defects are likely to impede a sale altogether or at least reduce the asking price.
How to negotiate repairs and other work?
The Realtors act as intermediaries and pass requests back and forth between the Buying and Selling parties in an attempt to remedy problems and close a real estate transaction. At this point the seller can either fix/repair the issue, cover the cost of the repair, lower the asking price or refuse to do anything. The Seller may agree to do some of the work but not all repairs.
If the property inspection report shows that the home is in good condition, there is nothing to negotiate. You should never complete the original contract assuming that you can re-negotiate the price down more post inspection. You could risk alienating the seller and possibly give them an incentive to move onto the next buyer.
