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Dianna Mandzuk ●Sales Representative ●Certified Luxury Home Marketing Specialist ●Canadian Staging Professional RE/Max Jazz Inc., Brokerage Professional Offices located at 203 Bond St. E., Oshawa, Ontario. L1G 1B4 Direct: 905-433-2579 Office: 905-728-1600
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You’ve found your dream home – well, you think so anyway. It might be a great home, but nobody’s dream includes a damaged foundation, a leaky roof, dangerous wiring, bad plumbing, or major structural problems. A home inspection is a great way to insure that you have a good understanding of what you are buying. There are issues and potentially expensive problems a trained professional will spot that you might not.
Homebuyers generally are the ones that will benefit most from conducting a home inspection. They can protect their own interests by finding out more about the structure and property they want to buy. According to Tracy Parks, sales representative for RE/MAX West Realty Inc., a home inspection has become a common condition that a buyer will stipulate in a purchase offer. If a home inspection unearths problems, it can impact the deal. If problems are substantial enough that the buyer does not want to continue with the deal worked out in the initial offer, the buyer may either want to cancel the sale or the buyer and seller may opt to renegotiate the rice for the home based on the cost an imposition that repairs will have on the purchaser.
But inspections aren’t just for homebuyers. A seller may want to conduct an inspection to find out what shape their home is in before they attempt to list it to rule out any surprises that could break a deal or detract from their selling price. Parks says that this has become more common in home expecting multiple offers in order expedite the process. Even homeowners who aren’t selling but are planning to renovate may consider hiring a home inspector. The inspections can be done throughout the project to insure that the contractor is doing the work properly according to code, contract and budget.
One of the big pitfalls of home inspections is that, until now, the industry has been left unregulated. With no criteria to qualify a professional home inspector, anyone could perform an inspection. President of the Canadian Association of Home and Property Inspectors (CAHPI), Michael Guihan, says that’s all about the change. A governing body, college level education courses and a Standards of Practice are being initiated so that the industry becomes regulated. Changed are being implemented as of July 1, 2006.
In a pre-purchase inspection, the home inspector will do a thorough visual inspection of the interior and exterior of the home, from roof to basement, checking the plumbing, heating and air conditioning systems, electrical wiring, electrical panel and structure, pointing out problems or potential issues as he/she comes across them. You are strongly advised to attend the inspection a it your opportunity to become familiar with the home you are about to own. As the inspector explains each component, you can ask questions and become educated about the major investment you are about to make.
Shortly after the inspection is completed, you will be provided with a full written report. Members of CAHPI have an approved reporting method, which can be either narrative or checklist format. Member also carry errors and omissions insurance. If a glaringly obvious problem was not noted in your report and you end up with a major issue to contend with once you own the home, this gives you some recourse. This is where it becomes especially important that you have hires a reputable home inspector. Guilan warns against hiring an inspector that offers a great deal on a walk-through evaluation. They may or may not point out every problem with the home. Without a written report for your to review, whether you’ve misunderstood something or the inspector missed a major issue, you have no recourse. There is no liability if it’s not in writing. A reputable inspector will have no problem confidently putting his findings in a report.
When buying a home, the pressure is on for the buyer to become an expert on the property very quickly. There are a lot of firms that do home inspections. Pick on that doesn’t want to do your repairs – that’s a conflict of interest that you might not want to get involved in. A reputable agent may give you an excellent referral for an inspection service, but the onus is on you. Any problems in the home are yours to keep long after the sale is complete and the commissions are paid. Call around if you want to compare prices, but don’t base your decision on price alone. Most reputable home inspection companies have fees falling within the same range. Some variation in price may be due to the size, location or site-specific factors. Get to know a home inside and out and find out if it truly is the house of your dreams.
CAHPI offers 10 Quick Tips to choosing a Home Inspector
If the selection of a home inspector is made carefully and ahead of time, homebuyers will have one less detail to worry about during the chaos and excitement of finding a new home.
The Canadian Association of Home and Property Inspectors (CAHPI) suggests that homebuyers call several inspectors in their area and interview them in advance to ascertain their qualifications. Homebuyers may also call the CAHPI for qualified home inspectors in their area. Here are some important questions to ask:
For further information on home inspections, or to obtain the names of qualified home inspectors in your area, visit the website www.cahpi.ca
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NOT INTENDED TO SOLICIT PROPERTIES ALREADY LISTED NOR BUYERS SIGNED UNDER A BUYER'S AGENCY AGREEMENT. E. & O.E. The information contained herein is believed to be accurate, but should not be relied upon without verification. Each office independently owned and operated. This site best viewed at 1024 x 768 screen resolution. COMMENTS/QUESTIONS CONTACT THE WEBMASTER content © 2009 DIANNA MANDZUK. ALL RIGHTS RESERVED.
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