Buying a home is a major financial decision for many Canadians, and a home inspection is an essential step in the process. A standard home inspection will provide a report on all aspects of the home, including electricity, insulation, heating, cooling, plumbing, and the exterior and interior of the house. Most of the inspection will take place inside the property. Your inspector will check the pipes for visible leaks in the faucets and identify the type of pipes being used in the house, as well as the location of the main stop valve.
To prevent a deal from failing, your real estate agent must insist that the home be inspected before closing a deal. After receiving the inspection report, review it carefully and then decide on the next course of action. If there are problems that need to be fixed, you can withdraw the sale or continue with the deal as long as the seller makes the repairs before closing or negotiates a lower price to cover the repairs. It's a good idea to get recommendations from friends or a trusted realtor, but to make sure you find a highly qualified inspector, it's worth visiting sites like the Canadian Association of Home and Property Inspectors (CAHPI).However, replacing damaged or faulty home systems can have some additional benefits, which are highlighted in the inspection report.
Home inspections are available for most types of residential properties, including single-family homes, townhomes, and apartments. The general information section of a home inspection report indicates the age of the property, its type (house, apartment, townhouse, etc.), and details about local water, sewer, and utility connections. Modern home inspection reports are digital documents with 360-degree photographs, high-resolution images, and easy to share features to show to contractors, friends and family. However, the home inspection report must provide you with a clear idea of the potential major and minor defects in the home so that you can better understand its overall condition. Most home inspection reports include general information about the property, a summary of any problems found during inspection, an opinion on everything that was analyzed by your inspector, and details about any issues detected during their examination. If your home inspection report highlights significant problems, one way to recoup your initial cost is to reduce your offer or make it conditional on repairs being completed before closing on your property.
Here are 5 tips for getting the most out of your home inspection report:
- Read through your report carefully. Make sure you understand all aspects of it before making any decisions.
- Ask questions. If there is something you don't understand in your report or if you need more information about something that was mentioned in it, don't hesitate to ask your inspector.
- Get estimates. If there are repairs that need to be done on your property after receiving your report, get estimates from contractors so you know how much it will cost.
- Negotiate.
If there are significant issues with your property that need to be addressed before closing on it, you may be able to negotiate with your seller for a lower price or for them to cover some of the repair costs.
- Follow up. Once you have made any necessary repairs or negotiated with your seller for them to be done before closing on your property, make sure they are completed before signing any paperwork.
