A "pre-purchase" or "buyer's inspection" is simply an inspection that is performed PRIOR to purchasing a home. These are often performed after signing a contractor to purchase but before closing.
Why is a Pre-purchase Inspection so important?
A home is one of the most expensive investments you will ever make, it is paramount that you know what you are paying getting for your dollars. I have performed thousands of inspections on both new and older homes and I have yet to find a home that did not at least have over $300.00 in repairs, most repairs range between $,1,500.00 - $2,500.00......some times more.
Does the Seller have to fix the items on your report?
No, however most will at least concede to repair the serious noted time or make concessions in price. In other words, paying $300.00 - $500.00 in order to get at $2000.00 or more in concessions only makes sense.
What if the Seller refuses to make concessions?
All contracts should have a contingency (kickout) clause that stipulates that if more than a predetermined dollar amount (usually $500.00) of repairs are needed then you have the right to walk away regardless as to weather they or not they are willing to fix same. Talk with your real estate agent and/or an attorney prior to signing any contract.
Should I be present during the inspection?
We prefer our clients to be present so that we can physically point out our findings or address any concerns the may have outside of the scope of the inspections, however we also understand that this is not always possible. Let me also say that I do inspect homes on the weekend if needed.
What happens if I find something after the inspection?
Notify us as soon as you find it so we can determine how critical the issue may be, often times they are cosmetic in nature for which we are not allowed to address however if need be we will come out and take a look and make a determination at that time. We just ask that you understand that a home inspection is simply an assessment as to the homes condition at the time its inspected, as with anything over time it will eventually replacing. If you are purchasing a 15 year old home then chances are, some of the mechanical components have reached the projected end of their life. It is for this reason that it is wise to purchase a home owners warranty which are typically good for 1 year but are renewable. Consult your agent.