Buying a Home
Buying a home is one of the most important investment decisions you will make in your lifetime. As such, it makes sound financial sense to enlist the services of a qualified home inspector to ensure your home is as solid and secure on the inside as it is on the outside.
A qualified home inspector will determine the structural and mechanical soundness of your home. Your home inspector will identify existing and potential problem areas, suggest practical solutions, and provide estimates regarding costs for any work required. Shortly after the inspection has taken place, a report summarizing the findings is generally provided to the potential purchaser.
By commissioning a home inspection prior to purchase, you’re protecting both yourself and your investment, as well as buying a little peace-of-mind.
Home inspection costs often range according to size, age, and location of the home.
Home Inspection Condition
These days, almost all resale transactions are conditional upon a home inspection as it is widely recognized that home inspections are well worth the investment. Typically, the condition reads, in part, as follows:
“This Offer is conditional until (time) on the (day) day of (month), (year), upon the inspection of the subject property by a home inspector at the Buyer’s own expense, and the obtaining of a report satisfactory to the Buyer, in the Buyer’s sole and absolute discretion. The Seller agrees to cooperate in providing access to the property for the purpose of this inspection….”
There is no question that retaining the services of a home inspector to inspect the subject property can avoid complicated legal disputes between the buyer and seller after closing.
Before purchasing a home in Ontario, most prospective buyers will hire a home inspector to ensure the property’s systems – heating, ventilation, electrical, septic, etc… – are functioning as expected. Like a good real estate lawyer, a professional home inspector can supply peace of mind to buyers.
For more information on “Hiring a Home Inspector” we refer you to the recently published article by the Canadian Mortgage Housing Corporation, available here.