There are many aspects making up the home buying process however, the home inspection is one of the most crucial steps as it alerts the potential buyer of the status of the property and if it’s suitable to live in.
As a homebuyer, knowing what to expect from the home inspection process and how to prepare can help guide you on what to expect when the time comes.
It’s standard practice for the homebuyer to pay for the home inspection as it reveals possible damages or areas in need of repair that can hinder or even prevent the purchasing process.
On average, most home inspections cost anywhere from $300 to $500. The price is largely affected by home location, property size and the estimated value of other homes within the nearby area.
Inspection contingencies are clauses added to the purchase agreement which state, to move forward with the purchase of the home, the inspection results have to be agreeable.
If issues are found while legal contingencies are in place by the buyer, the buyer must seek a professional to remedy the issue within a certain timeframe or walk away from the home.
The home inspection process is a great opportunity for homebuyers to get an in-depth understanding of the ins and outs of the home and ask questions about the structure of the property.
During this time, consider asking questions about, but not limited to:
As a homebuyer, consider the home inspection as a time to get more clarity of what the property has to offer and figure out if the space is for you.
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