Making an offer on a home is a huge step for a first-time homebuyer. In almost all cases, you should have a contingency clause in the offer that notes you have the right to revoke the offer if the home inspection unearths any points that should have been disclosed but weren’t.
While some people choose to waive an inspection and buy the home as-is, having it done is one of the most effective ways of protecting yourself. The home is an expensive purchase. The last thing you need to find out after you complete the purchase is that there are expensive repairs that have to be done to your new home.
What does a home inspection do?
Home inspectors go through the entire home to determine the true condition of the property. They look for many things, such as structural issues, water damage, or defects that have to be corrected. The inspector can also determine if there are any additions to the home that didn’t go through the proper permitting process.
Learning about defects in the home before you close on the home can give you some points for negotiation. If things are too bad, your offer on the home can likely be recanted without you having to face any monetary penalties. This is also a way that you can ensure the home is safe for your family.
Each step in the home buying process must be taken seriously. Protecting your legal rights throughout it is important. Be sure you work closely with someone who knows this area of the law so they can help you protect your interests.