Benefits of a Home Inspection When Buying
There are many things during the closing process to consider that could help protect your interest when buying a home at the Lake of the Ozarks. One of those things is whether or not to get a home inspection done on the property in which you're interested in buying. While you may be tempted to pass on this opportunity to save a buck, skipping the home inspection could be a huge mistake. To give you an idea of why we say this, eXp Realty offers some great reasons to have a home inspection before you buy:
What You See May Not Be What You Get
No matter the age of the home, there can be costly troubles unknown to the average buyer. Problems with wiring, plumbing and easement may not be visible during a showing and you’ll want to get an expert opinion. By just doing a thorough walk through of a home and calling it "good" to your standards at the time will not protect your investment in the future. By having a professional inspect the home, they can catch things that a buyer with no experience in home inspections may not notice as a potentially expensive problem.
Skipping Inspection Could Cost You
Home inspections generally cost from $300 to $500 depending on size and age of the home. While that may seem like a hefty sum of money, think of it this way, you could be stuck paying for a major maintenance issue or multiple issues that costs thousands after the sale is finalized that the seller would have had to pay for had it been caught during an inspection prior to closing. The small upfront cost of a home inspection can potentially save you thousands of dollars, and prevent you from the hassle of having to deal with the headache of such problems from arising in the future.
A Home Inspection Can Give You Negotiating Power
One of the advantages of having a home inspection performed before you buy is the power it might give you to negotiate a lower price. If a home you’re really interested in is on the edge of your price range, information gathered during the home inspection may give you the bargaining power to talk down the price. You can also insert language into a purchase contract that allows you to back out of an agreement if the inspection turns up problems.
The Seller is Responsible for Repair Costs
Not only are you able to negotiate a lower price, many buyers include clauses in their contract requiring the seller to make the repairs necessary before any money is exchanged. If the seller is unwilling to complete the repairs, a credit may be negotiated to make up for the cost it will take to fix the issues. If the seller is unwilling to work with you on your requests to either have the problems fixed prior to closing, or to offer a credit for the cost of repairs, you may be eligible to back out of the contract without any repercussions on your end. Solid facts about the quality and condition of the home can give you valuable bargaining power.
An Inspection Gives You an Idea of What You’re Buying
In the end the most important reason to have a home inspection before you buy is to really know what you’re buying. Research your potential home like you would any other major purchase. The more you know, the fewer surprises there will be down the road. Home inspectors can help you make a decision based on your current budget as well as your future time and money investment.
What You See May Not Be What You Get
No matter the age of the home, there can be costly troubles unknown to the average buyer. Problems with wiring, plumbing and easement may not be visible during a showing and you’ll want to get an expert opinion. By just doing a thorough walk through of a home and calling it "good" to your standards at the time will not protect your investment in the future. By having a professional inspect the home, they can catch things that a buyer with no experience in home inspections may not notice as a potentially expensive problem.
Skipping Inspection Could Cost You
Home inspections generally cost from $300 to $500 depending on size and age of the home. While that may seem like a hefty sum of money, think of it this way, you could be stuck paying for a major maintenance issue or multiple issues that costs thousands after the sale is finalized that the seller would have had to pay for had it been caught during an inspection prior to closing. The small upfront cost of a home inspection can potentially save you thousands of dollars, and prevent you from the hassle of having to deal with the headache of such problems from arising in the future.
A Home Inspection Can Give You Negotiating Power
One of the advantages of having a home inspection performed before you buy is the power it might give you to negotiate a lower price. If a home you’re really interested in is on the edge of your price range, information gathered during the home inspection may give you the bargaining power to talk down the price. You can also insert language into a purchase contract that allows you to back out of an agreement if the inspection turns up problems.
The Seller is Responsible for Repair Costs
Not only are you able to negotiate a lower price, many buyers include clauses in their contract requiring the seller to make the repairs necessary before any money is exchanged. If the seller is unwilling to complete the repairs, a credit may be negotiated to make up for the cost it will take to fix the issues. If the seller is unwilling to work with you on your requests to either have the problems fixed prior to closing, or to offer a credit for the cost of repairs, you may be eligible to back out of the contract without any repercussions on your end. Solid facts about the quality and condition of the home can give you valuable bargaining power.
An Inspection Gives You an Idea of What You’re Buying
In the end the most important reason to have a home inspection before you buy is to really know what you’re buying. Research your potential home like you would any other major purchase. The more you know, the fewer surprises there will be down the road. Home inspectors can help you make a decision based on your current budget as well as your future time and money investment.
With these great reasons for getting a home inspection done when buying a home at the Lake of the Ozarks, you'll be able to make a more sound decision when making your purchase. Now, the home inspection isn't the only thing you need to consider during the home buying process. By working with the best real estate team at the Lake of the Ozarks, you can rest assured that we'll help guide you through the process every step of the way, and that we'll have your best interest in mind. For all of your real estate needs, contact eXp Realty!
2011 REALTOR Salesperson of the Year
Missouri Association of Realtors
752 Bagnell Dam Blvd., Suite A
Lake Ozark, MO 65049
Office | 573.365.1555
Fax | 573.365.1766
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