When is a home inspection due and is it obligatory? This is an often repeated question posed to real estate professionals worldwide and in many cases, they will tell you, not really. However, even though it is not compulsory, there are a lot of good reasons why a home inspection is still advised.
Let’s face it, buying a house is an undertaking. A professional home inspector would be able to assess your home and give you an idea on how to save time and money as well as helping you protect your large investment.
They will be able to point out any deficiencies in the condition of the home that was either not declared or not immediately apparent to the untrained eye. This would then be documented and could be easily be provided should your underwriter request for it. This evaluation is otherwise known as the Engineer’s Report. An accomplished inspection benefits you by saving you precious time and also allowing your mortgage process to progress as scheduled. By being able to pinpoint issues early in the process, the seller can rectify any concerns prior to the sale and averting you of the possibility of having to deal with any problems yourself once the deal is signed saving you money on possible repair costs.
In comparison to the fee of having a professional home inspection done to being assured that the home you’ve set your heart on is in tiptop shape or at least being made aware of potential risks of the property before your final commitment, is certainly minimal. In the long run, forewarned is still definitely forearmed as it gives you a clearer idea in terms of a more solid pricing and costing expectations giving you the advantage that you need.