Make your home inspection process easy and stress-free.
What are the different home inspection options available when purchasing a property? When it comes to home inspections, there’s a lot you need to consider. That’s why today, I’m sharing four options when conducting a home inspection:
1. Home Inspection with the Right to Negotiate. This is the most common option. As a buyer, you conduct the inspection and have the right to request repairs or credits from the seller based on the findings. For instance, if the dishwasher is faulty, you can negotiate for a reimbursement or replacement.
2. Pass or Fail Home Inspection. With this option, you still conduct a thorough inspection, but you're required to make a decision at the end: either proceed with the purchase or walk away. While you retain the right to inspect, you forfeit the opportunity to negotiate repairs or credits.
3. Inspection for Informational Purposes Only. Here, you have the liberty to inspect the property, but it's not contingent on the sale. Essentially, you gather information about the property's condition for your own knowledge, without any influence on the transaction.
4. Non-Inspection. In a competitive market, some buyers opt to waive inspections altogether to make non-contingent offers. While this approach can be advantageous in certain situations, it's essential to weigh the risks carefully.
It's important to make wise decisions when choosing a home inspection option. If you're uncertain about which option to take, consider factors like market conditions, property conditions, and your risk tolerance. Remember, knowledge is power in real estate transactions. If you have any questions or need guidance, don't hesitate to call or email. We look forward to hearing from you!
