Why Proper Inspections Impact Your Buyer's Decisions
A big part of purchasing a home is doing your due diligence and properly investigating the substantial purchase you are making. Upon opening up escrow on your new home, you will begin to receive disclosure documents of the seller knowledge of the home (repairs, remodels, etc.) since they have owned it. In addition to the seller disclosures, you will also have the right to hire an inspector of your choosing to fully inspect the home for you. This is a very crucial part of the home buying process.
Don't Ever Think of Skipping Your Property Inspection
I just went through an escrow where the buyer chose not to get a professional home inspection (I represented the seller). It wasn't the first time I see that happen but I just can't ever believe anyone would even dream of releasing contingencies with out one.
Buyers, Attention Please! Get a home inspection every time you purchase real estate! Got that? Good.
The Value of Getting a Home Inspection
The inspection is one of the greatest protections that you have as a buyer. It is your opportunity to inspect the property inside and out with the help of a professional. The benefits of this can't be over stated.
A home inspection will help you figure out what you are pouring hundreds of thousands of dollars into. Buying real estate is a serious matter and you should be taking every precaution.
Best of all, it will give you real grounds under which to negotiate repairs from the seller. The seller find it difficult to argue with the findings of a professional home inspector. At least that's how it works here with San Diego County homes and most other places I know of.
Inspections Reduce Buyer Risk
In fact, it is so important that you do get a professional home inspection, and so crazy not to, that if I am involved in a deal where the buyer opts to not do an inspection I make sure that they sign a legal document that proves that I encouraged them to get one. I don't want that coming back to bite me in the behind when there is something wrong with their property that they never found as a result of passing on their right to inspect the property.
Thinking about it as a right is actually a great way to think about your professional home inspection. It really is a right. Giving up your right to the home inspection is like giving up your right to free speech. It's just crazy.
Forgoing the Inspection Trades Short-Term Cost for Long-Term Risk
I assume some buyers pass on the professional home inspection because it can run a few hundred dollars. Well that is just nothing compared to the thousands of dollars in problems you can avoid by figuring out what is under the hood before you buy. I guess these are probably the same people that opt to not have care and health insurance (and can afford it).
Stupid is how I would describe those people. That is not a camp you want to be in.
Crushing San Diego Home Inspection Myths
Home inspections for any real estate purchase or sale are one of the most important things that need to be done. We recommend that any San Diego home buyer get an inspection done and to always make sure that it is from a professional and outstanding company that has a proven track record of doing great work and is part of one of the two California trade associations for home inspectors.
For us at the Daniel Beer Group, the gold standard in home inspection companies is John Robinson Inspection Group, but, whoever you choose to work with, make sure that you are working with an excellent home inspector.
Common Home Inspection Myths
Here are a few common home inspection myths to be aware of:
- Not all home inspectors and certification programs are created equal.
- Should both newer and old homes be inspected?
- What exactly is covered during a home inspection?
- Making sure you are working with a neutral third-party inspector that is giving an objective and fair analysis of their findings.
- Understanding that after a home inspection and a repair request process that there may still be (and likely will be) some items left to be addressed.
- Understanding the relationship between your inspection report and the value of your home.
Why Proper Home Inspections are So Critical
A big part of purchasing a home is doing your due diligence and properly investigating the substantial purchase you are making. Upon opening up escrow on your new home, you will begin to receive disclosure documents of the seller's knowledge of the home (repairs, remodels, etc.) since they have owned it. In addition to the seller disclosures, you will also have the right to hire an inspector of your choosing to fully inspect the home for you. This is a very crucial part of the home buying process.
Home Inspection Horror Stories: How an Inspection Protects You
A few months back, I opened escrow with a client on a home off the I-15 corridor. The home appeared to be turn-key and in good condition. The home was nicely staged and had beautiful cosmetic upgrades throughout, including a new kitchen and flooring. My client was drawn to the home’s new materials and color scheme. We opened escrow and were able to negotiate favorable terms. We then received disclosures documenting all the
Work that had been done to the home and it turned out the home had been an investment. The sellers had bought the home and converted the dated older construction into the modernized floor plan we were now seeing.
During the inspection appointment, the inspector noted HVAC, plumbing, and electrical were in all good working order. However, while walking through the home and doing some further testing, the inspector determined that the flooring seemed uneven. As such he recommended that it be further inspected by a licensed foundation expert. A few days later, we sent out a foundation expert to complete the evaluation of the uneven flooring. During his inspection, the expert informed us that the home needed an entirely new foundation platform (the estimated bid came in around $60,000!). Naturally, the buyer was shell-shocked and worried about backing out of escrow and the purchase agreement thus losing his deposit.
At the end of the day, the buyer did back out and moved forward with another home that their entire family is now enjoying. They continue to speak of how bad of a money pit the other home could have been and greatly appreciated the inspection process.
Due to his rights as a buyer, the faulty foundation inspection discovery occurred while he was 100% protected by the 17-day contingency period. During this timeframe, a buyer is free to do all of their own independent inspections and investigations. Because our buyer had not removed this important inspection contingency, the only funds he was out of pocket were for his inspection fees, which ultimately had proven to be very well spent. The inspection had provided a safety net that helped him make a well-informed decision to pass on this purchase and look for another home.
Contact Us for Help With Your Next Home Purchase
Please do not hesitate to call our office regarding the importance of inspections and due diligence that can lead a buyer down the road to either a good or bad investment. We can be reached at 858-367-9290.