When you are interested in buying a home and property, there are many steps. When buying a home, it can take a lot of time. When a buyer is inpatient they will look for corners to cut to speed up the sale process. Often they will skip the home inspection. Even when a buyer is in a rush to buy a home, they should never skip the home inspection. It is true that home inspections take time. The inspector needs to inspect the home, document and make a detailed report on their findings. Even though this process requires a few days it is an essential step in buying a home. JMark Inspections would like to share why home inspections are so important and why buyers should never skip this step in buying a home.
What is the Purpose of a Home Inspection
When you are buying a home, a home inspection is very common. Both American Society of Home Inspectors and FindLaw estimates 90% of all home sales are accompanied with a home inspection. Only 10% of all home sales may not have had the home inspected. Home inspections are essential and are conducted for two primary reasons. One is for mortgage loan approvals and two, to determine the sale price or value of a home.
Why Should a Buyer Get a Home Inspection?
Having a home inspected before a buyer commits to a sale is not a legal requirement. However, when you wish to receive a loan from a lender, often the lender will require a home inspection before the loan can be approved. A lender wants to make sure they are loaning the right amount of money for the home. Not only will the lender want to know the condition and value of the home, but the buyer should want to as well. A buyer should be ready to take the time to know the home inside and out and make sure it is listed for fair market value. As most home’s value is determined by the neighborhood, lot size, and the size of the home, it may not actually be for the estimated market value. Some homes can have major damages, flaws, or is outdated and is not up to code. A home inspection will help both buyer and lender know the details of the home and its true value.
Risk of Skipping a Home Inspection
As a buyer you should never skip or waive a home inspection. For first time buyer, they may be in a hurry to get a home or under estimate the value of a home inspection. Homes can have many problems that are hidden even from the current owner. A home inspector will do a thorough inspection of the home. They will check everything from the foundation to the roof and everything in between. They will make sure the home is built to code and has no major problems. Homes have been found with mold, termites, and rotten framing. The foundation can be sinking or damaged. The windows may have major leaks. There can be a number of problems with a home and some many not seen easily seen. To ensure there are no hidden damages or problems with a home, and a home inspector will ensure the home’s health and condition. As a buyer you will want to ensure the home is in great condition and is worth the potential investment.
Home & Commercial Property Inspections in Pasadena, Pearland, League City, Sugar Land, The Woodlands, Conroe, Friendswood & Greater Houston, Texas
As a buyer, never skip a home inspection even if the seller has had the home inspected before listing. You will want your own report before committing to buying the home. If you need a home inspection, contact JMark Inspections and schedule our services today.