A professional home inspection provides the purchaser with a clear understanding of the physical condition of the home in order to make a well-informed decision. The written report discloses any deficiencies as well as noting positive features.
A professional home inspection is a strong selling point for vendors. It shows potential buyers that nothing is being hidden, while highlighting features of the house. Full disclosure before the fact permits the vendor to prepare the property for sale to maximize the requested price.
A home inspection reinforces the relationship between agent and purchaser – important in developing a long term client referral network. A satisfied purchaser represents potential future listings and commissions. Sometimes, purchasers are reluctant to move forward on a transaction, due to either financial or other personal concerns. In these instances, an objective, professional home inspection helps to answer questions, allay apprehensions, and put the home and the transaction into proper perspective. A home inspection makes it easier to overcome obstacles and keep the purchase process moving forward.
The new lower down payment requirements on real estate transactions have been a mixed blessing for lenders. A lender risks holding a property with serious undetected deficiencies that would not realize the equity value for their loan. A professional inspection allows purchasers to plan financially for both the cost of the house and any necessary repairs. NO SURPRISES for the purchaser equals security for the lender.
The lawyer works in the interest of the purchaser. Therefore it is good that they direct their clients to have a home inspection done. This will disclose any potential problems, and prevent possible litigation in the future.