New to the home buying process? Don’t worry – we’ve got you covered! Let’s go over some benefits of getting an inspection done prior to purchasing a home.
Most purchase contracts include the option to have a home inspection completed. It’s a very important part of the process because it will outline the current condition of the home.
If you elect to have a home inspection done, a licensed home inspector will go to the home you plan to purchase and evaluate many different aspects that you probably overlooked. When you search and find a home, you most likely focus on the outward appearance, what the rooms look like, color schemes, and the layout of the space. Alternatively, a home inspector will examine the major components of the home, such as the electrical work, attic, crawlspace, basement, and water retention.
Home inspections are usually paid for by the buyer, and typically cost between $300-$500. The cost depends on the size, age, and particulars included in the home.
One of the biggest reasons to get an inspection is to determine what, if any, major defects the home has. Often, buyers will include a contingency in the purchase contract that allows them to get out of the contract in the case of a major defect. So if you’re about to buy a home and find out that the roof is about to fall apart, you can exit the purchase contract with that contingency in place.
However, most of the time inspections simply allow the buyer the right to ask the seller to make any repairs that are needed or at least be aware of any continual maintenance to be expected.
Overall, home inspections are a critical aspect in purchasing a home because it gives buyers the opportunity to truly know what they are purchasing. If you have any questions about inspections or the home buying process, feel free to call our team! (217) 422-3335
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