Orangeville Real Estate - Home Inspections

Buyers get pretty excited when they find a great deal on a foreclosed or "power of sale" home, but sometimes that great little price tag turns out to be not so little in the end. By buying that bargain priced home, they occasionally assume a high and unexpected risk. The lender has to sell a home with no guarantees attached because they have never lived in the home and know nothing about defects on the property.

Many of these foreclosed homes for sale are abandoned or neglected. There could be structural defects, problems with the plumbing or electrical systems, heating system problems, environmental issues that could affect the family's safety or healthy, or an abundance of other problems. Repairing all the problems could end up costing far more than the expected financial savings realized in buying a distressed property.

While it's possible for find a deal on a foreclosed home in the Orangeville real estate market, most agents would and should insert a conditional clause in the offer to have the home inspected by a professional to identify potential risks and approximate repair costs. It's far better to know whether to close the transaction or simply walk away.

You might find a home inspector by consulting with family or friends who have recently used the services of a home inspector. Perhaps your real estate professional can recommend several from which to choose. In the United States you may consult The American Society of Home Inspectors (www.ashi.org) or the Canadian Association of Home & Property Inspectors (www.cahpi.ca) in Canada.

Some Sellers who want their home to be more appealing to buyers will have the home inspected before they try to sell a home. That way, if there are some defects that can be addressed ahead of time, things should go much more smoothly.

Do some research before deciding on a candidate. There are tips on the ASHI website.

Ask questions about their background knowledge and experience. Some areas don't have set standards. Some are trained by the franchise company and some are engineers with others in between.

In what format will the report be. It's good to have a written report to refer to in the future.

Avoid going with the inspector offering the lowest price. You want one with credentials and experience.

Make sure you go to the inspection so you can get as much information as possible about your investment.

Having a home inspection before you sign on the dotted line will ensure that you dream home does not turn into a money pit, or even worse, an unimaginable nightmare. Buy a home with your head, not your heart. If you want to sell a home in the future, you'll want to make sure you made the right decision when first buying a home. If this home is not the one, find a good agent who will keep an eye on the Orangeville real estate market for the next great find.