Home inspections can play a pivotal role in your hunt for a home. When you make an offer on a home, you can include in the conditions that a home inspection is to take place before finalization and this can give you an “out” if the inspection is not in your favor.
Not in your favor? Many things can be revealed during a home inspection. Home inspectors have the ability to uncover hidden issues that may not be visible during a routine walk through. Inspectors are trained to detect any structural, electrical, plumbing and other potential defects and give you a clearer picture and help you to decide if you want to take on the issues or walk away from the deal. Often times, buyers can negotiate in their offer, the costs of repairs that need to be done if they still wish to continue with the purchase of the home.
In Ontario, Sellers are legally obligated to disclose any “known” defects or problems with their property. Sellers can request home inspections before listing their property so that not only do they meet the obligation of disclosing any problems, they can also decide to repair or fix any of them beforehand to ensure a smoother sale.
Home inspections typically take 2-3 hours to complete depending on the size of the home, the issues in the home if any and can cost anywhere from $300.00 to $600.00 or more. Buyers are encouraged to be present when they are b eing done giving them the opportunity to ask the Inspector any questions to clarify and better understand what would be required for repairs if any.
While home inspections are not mandatory, some Insurance companies and banks may require that you have one completed in order to obtain their services.
Make sure when choosing your home inspector that they are reputable, qualified and have a membership in a professional organization such as the Ontario Association of Home Inspectors (OAHI). Speaking with your real estate agent can help you determine which one would be best suited for you.
Happy House Hunting!
