According to Jeff Pattison of Dominion Home Inspection, an offer on your home can greatly impact the seller and buyer of a house for sale.
Your first clue that a home inspection is important is that it can be used as a contingency in your purchase offer. To get ahead of this issue, serious sellers may invite a home inspector to give them an early evaluation to avoid embarrassing and costly repairs.
In fact, repairs once revealed in a home inspection by the buyers cost the seller in multiple ways. First, they may lose the sale. Second, they buyer will demand price concession that more than cover the cost of repairs. Third, work done early by the seller will be more cost effective.
This home inspection contingency is a hanging threat over any home sale. The home inspection provides that if significant defects are revealed by a home inspection, you can back out of your offer, free of penalty, within a certain timeframe.
The potential problems a home can have must be pretty serious if they could allow you to walk away from such a significant contract. So whether you’re looking to buy your next home or simply meeting a home inspection done for peace of mind, do not neglect the importance of a home inspection.