The Importance of A Home Inspection
Buying a Frederick Md home is usually the largest financial investment the average person makes. As with any purchase, no matter how large or small, it is important to know what you are buying before you buy it. Let me point out the importance of a home inspection.
The question of whether or not to get a home inspection is best answered for Frederick home buyers with 2 equally important points:
A. As an issue of negotiating, the home inspection is very important, especially in today’s real estate market with a high inventory of short sales and foreclosures.* First, when a buyer writes an offer with a home inspection contingency, and the offer is accepted, that contingency will be their way out of the transaction if the home inspection reveals issues in the house that are just too much work, or too much money for the buyer to swallow. Without that contingency, it may be difficult to back out of the deal.
Secondly, the home inspection can reveal issues that the seller will be required by the MAR contract to repair. The seller is not required to repair everything the buyer may find, but is supposed to provide a home with all “mechanical systems in working condition”.
*In the case of a foreclosure, the home inspection will most likely be “for informational purposes only”. The bank will usually not perform any repairs or replacements, accept occasionally in the instance of major mold problems.
That being said, we’re not advocating that buyers should be ready to back out of contracted agreements at every whim, or be nervous about every deal. The object of the process is to buy a house, not to just dip the toe in the water.
B. Know What You Are Buying. A house is a huge purchase; it is really best to know what you are getting. A thorough home inspection with a recommended inspector will educate the home buyer about all of the systems in the home, “All electrical, heating, air conditioning, plumbing (including well and septic), and any other mechanical systems and related equipment, appliances and smoke detector(s)” of the home. [MAR Contract]
A reputable home inspector with updated knowledge will help a buyer understand how these systems work, how they should be maintained, and even give a realistic expectation of the life of the present items and when to plan for repairs and replacements. It helps to have a working knowledge of the bricks and sticks of your home.
Owning a home is more than a one-time investment. Understanding how your home is put together and how to maintain it will protect that investment as well as the resale value of your home. Whether you’re buying your first home or your fifth home, don’t underestimate the importance of a home inspection.
Contact us for our list of reputable Real Estate Professional Services. Use our Property Search to find your new Frederick Home:
The Highland Group
Frederick, Md 21704