When you are in the market to buy a house, there are some key things you should do when you find the home of your dreams. It is really easy to get caught up in the wonder of your potential new house and want to rush to owning it. We want to caution you against moving too fast and skipping some crucial steps. One step you should not skip over is the inspection. It is key to ensuring there are no hidden problems in the house that will haunt you after purchase. This is true for Lexington, KY real estate, as well as real estate everywhere.
We all understand how exciting it is to purchase a house and make it into a home. We know that sometimes there can be heavy competition for the same house. In these cases, you want to make your offer the most attractive one. You may be trying to find ways to shorten the home buying period. The home inspection is not something that should be on the list of things to avoid. Here are some key reasons why skipping the inspection is a bad idea. Consider them before you continue with the home buying process.
What Can Happen If You Do Not Have A Home Inspection?
You are getting ready to purchase the home of your dreams, and to you, it looks absolutely perfect. You can already see your furniture filling up the space. This house may be in excellent condition, but there may be things lurking beneath the surface that you cannot see. If you are not trained to look for specific things, you may not even know there are problems. It is the things that you cannot see that may cause the biggest issues later. Some things that you may not be able to see are asbestos and mold. If there are termites or some other rodent infestation, you may not be able to see that.
As hard as it will seem, you must remember not to let your emotions about wanting a house take over. You have to remain smart about it. You are making a lifelong investment. You should not make some quick decisions based on the emotions of wanting the house that may plague you for as long as you own the home. You will certainly regret not having a home inspection if a year down the road, you are faced with a bill that costs you tens of thousands of dollars.
In addition to having huge repair costs, if you forego the inspection, you may end up with a house that you cannot sell. You could end up with some major structural problems that prevent you from selling the house once you own it. Once you know about problems with the house, you are legally bound to disclose it when you sell the house.
The Seller Should Not Be Your Source
This is not intended to be an insult to the seller of any house you would like to purchase. You must remember that you need to protect your best interest. Do not take the sellers word for what may or may not be wrong with the house. Remember at the end of the day, they are trying to sell a house. Not only that, but they are trying to sell it as quickly and with as much profit as possible. It is possible that they are things wrong with the house that the seller does not know. The seller most likely is not a trained home inspector. Even if you are buying from a company that specializes in relocation, you still should not trust what they tell you. When you have an inspection, if there are problems, typically the homeowner is responsible for paying for the repairs that need to occur. Instead of you having to foot the bill for the costs a year from now, the homeowner is responsible for the costs, especially for the things you may not have noticed yourself. This puts the liability where it should be, which is on the current owner of the home.
Alternatives To A Typical Home Inspection
A typical home inspection may not be the only option you have. There are some things that you can try if you would like to speed up the sale of the house but still have a home inspection. You could consider having a pre-sale inspection. This inspection happens before you sign any contracts, or even make an offer on the house. The catch here is that you pay out of pocket for the inspection. The cost is only a couple hundred dollars and it could be worth it in the end. If you decide not to buy the house, you lose the money you spent on the inspection. However, if you decide to buy the house, you can waiver your right to an inspection because it has already been done. If you are interested in many houses, this could become costly. It could be a good route for you to go if there is one, maybe two houses that you are really interested in purchasing.
Some sellers have their homes inspected prior to putting their house on the market. Typically, they will allow you to see the inspection report as part of the house documents. The seller does this to get ahead of any of the issues with the house. The seller is obligated to tell potential buyers about any concerns with the house. The pre-inspection also protects the seller from a buyer claiming there are issues with the house after the sale. This is typically a good thing for the buyer and seller, but keep in mind, the inspector was hired and is being paid by the seller and therefore may feel an obligation to the seller. If the inspector missed something, and it becomes as issue later on, the cost of repairs will fall on you. The seller no longer has any responsibility. When you have an inspection as part of the sale, it is done by a third party that has no obligation to the buyer or the seller.
You can find ways to move the sale of the house quickly and still have the home inspection. You can write the one or two day inspection into your offer to the seller. You are letting the seller know that you want an inspection, but also let them know that you are not trying to slow down the sale of the house with the inspection. This can give both you and the seller peace of mind. When you work with us for Lexington KY real estate, we have existing relationships with inspectors that will schedule and complete the inspections quickly.
In some cases, the seller tries to entice you to skip the home inspection. Be careful in these instances. It could be that the seller is trying to move the sale along quickly so they can buy another house. It could also be that the seller is trying to hide something, so beware. Over the years, sellers have tried to do all kinds of things to entice a buyer to bypass the inspection. The seller may offer a decreased cost on the house, or cash back to the seller if the seller will skip the inspection. This should set off an alarm for the buyer. A home inspection, once scheduled, only takes a few hours. The seller does not have to be there and it is added to the cost of the price of the house, so it has little impact on the seller. Typically, in this case, the seller has something to hide. You may be interested in taking the seller up on this offer, but you really should consider not doing this. You have no idea what the seller has done to the house.
Another benefit that comes with a home inspection is the inspector may see things that are not currently issues, but could become issues soon. For example, the inspector may notice that the have system could have problems in a few years. The inspector could notice that the roof may only have a few years left on it. These things most likely will not go in the report, but could be good information for the seller. This can allow the seller to consider things like home warranties to provide protection for future costs.
There are numerous benefits to having a home inspection. We know that buying a house is an emotional process. It can be long and drawn out. You become emotionally invested in a house as soon as you see it and you want to make it your own. There are many steps you have to take before it becomes yours. Then, you find that there could be problems with the house which make you question if you should purchase it. This only adds to the stress and emotion of it all. Do not let these things deter you from a home inspection. You will regret not having a home inspection, but you will not retreat having one. Let us help you with Lexington, KY real estate.