Why Home Inspection Is So Important When Buying a Home
A home is a major investment, and a valuable and complex asset. Real estate transactions also involve real property law, and having a real estate lawyer to guide you and protect your interests and rights can prevent many legal consequences that can happen during the process of buying or selling a home.
One of the important steps in a home purchase process is inspection of the prospective home to avoid a costly mistake of buying a property in need of major repairs that would be pricey to perform. Most contracts state that the premises are sold “as is”, thus it is imperative to know what you are buying.
A professional home inspection should be performed as soon as you are ready to put in your offer for a particular home. It’s an inexpensive way to discover the general condition of a home, and find out if it’s truly your “dream home”.
A certified home inspector will assist you in understanding exactly what you’re about to acquire, so until you have the satisfactory results in your hands – do not close.
A home may look healthy and even move in ready, but a home inspection can uncover issues that are not noticeable to the buyer’s eye. You are making a big investment, so you want to know the shape of the electrical wiring, plumbing, roofing, insulation, HVAC, and structure of the home you are considering.
Upon having a certified home inspector conduct a thorough inspection of the property, you’ll receive a report listing any improvements or repairs that may be necessary to bring the home up to current standards.
As the buyer, you may be able to use the home inspection report as a great tool during purchasing negotiations with the seller. If issues were found with the prospective home, you could negotiate a credit with the sellers, have the seller pay for repairs before the closing, purchase the home as is, or walk away from the purchase if the problems seem too big.
There are numerous legal questions that need to be addressed in the contract of sale. If the property was altered or an addition made – was it done lawfully? Are there any legal consequences if the closing does not take place? What if the property has termites, asbestos, radon or lead based paint; or, what if it’s near a hazardous waste dumpsite?
Addressing and rectifying any legal issues that arise during a real estate transaction will save you time, future expenses and hassle.
The Levin Law Group’s skilled and trusted real estate attorneys will assist you with a wide spectrum of residential and commercial real estate transactions throughout New York State and New Jersey.
We work with Unity Home Inspectors, licensed and experienced home inspectors specializing in performing home inspections in the 5 boroughs of New York City and providing customers with a platinum level of service.
Unity Home Inspectors also help sellers review the property disclosure statement, transferring the liability from the homeowner to the inspector, and point out flaws that the homeowner can fix before their buyers bring their own inspectors, potentially saving time and money down the road.
Upon a thorough inspection of the house, a report will be generated within 24 hours that will explain in layman terms the condition of the home. Reports are ready after the inspection. Unity Home Inspectors use a special industrial grade infrared camera that can detect moisture damage, mold, pipe blockages, broken wood studs behind sheetrock, electrical problems, and other issues invisible to the naked eye.
A home inspection may be the most important piece of due diligence you can do on the physical structure of a home – and the one that’s most likely to provide you with leverage during pre-closing negotiations.
To ensure you have a seasoned real estate attorney by your side to help protect your interests during a real estate transaction – contact Levin Law Group real estate law firm today.