Most would agree: buying a home is the largest investment that the majority of people make in their lives. The potential buyer of an existing home should therefore always bind his promise to purchase with a conditional inspection. This illustrates the importance of a home inspection, pre-purchase.
Why an Inspection?
A pre-purchase property inspection and evaluation is essential for two reasons:
- To obtain a complete and objective statement on the condition of the building, made official by a qualified professional, for both buyer and seller to recognize
- To detect existing deficiencies and forecast upcoming issues that will hinder their enjoyment of the house, for financial calculations on repair which may also impact on purchase price
Purchase Conditional on Results
What should be stated about inspection, on the Promise to Purchase?
- A holding period of 7 to 10 days, allowing for inspection and analysing of the results
- A clause which states that the findings must satisfy the buyer
Following these findings, the buyer could be released from obligation to conclude the purchase if the results are negative. In addition, they will have an opening to renegotiate the price. One more importance of a home inspection.
Choosing the Building Inspector
Surprisingly, this profession does not have its own standardized home inspection training. They are almost as vital as a first-class Real Estate Broker. Given this, who should you trust your inspections to? The smartest way to ensure they’re qualified is to target an inspector who:
- Is holder of liability insurance for errors and omissions
- Is member —in good standing— of the Quebec Association of Building Inspectors
In Quebec we can find architects, architectural technicians, and building engineers who offer the service. Note that professional orders are in place specifically to protect the public by supervising the practice of this trade. The inspector’s membership can be verified by the order itself, and insurance coverage from the company in question. Also, do not hesitate to ask for references. An experienced building inspector should not object. They realize the nervousness of their client, and the importance of a home inspection before purchase.
This consists of a close examination of the physical condition of the structure, of all systems and components, both readily visible and not. A conscientious inspector will find a way to access or somehow survey every pertinent area. Extensive photography and written documentation complements a naked-eye visual examination.
Quebec architects orders, professional technologists and certified appraisers jointly developed the list of standards to follow, out of respect for the importance of a home inspection. They determine the content and scope of inspections of residential properties carried out by their members. It specifies everything that must be scrutinized, such as building structure, land, doors and windows, roof, plumbing, electrical, heating, cooling, ventilation, etc.
The Finished Product
After the examination, the inspector submits a written report of their findings to the prospective buyer. It is thorough, complete and detailed, accompanied by the photographs mentioned above. This report must contain insightful comments about all material defects observed, highlighting those most urgent or in need of major repair. The insight is what distinguishes a trained professional inspector from the average Joe, in their estimations of what’s good and bad.
Ultimately, this pre-purchase inspection conducted by an impartial professional is normally recognized by both buyer and (any reasonable) seller, and eliminates a lot of the mystery from the transaction. It can serve as a pivotal bargaining chip for either side, and is intended to be kept on record even after the change in ownership, in case hidden flaws are discovered later.
This illustrates the importance of a home inspection, pre-purchase. If you’re in the market for a new home, and need some solid advice about inspections, call 514-296-4858 or E-mail firstname.lastname@example.org today