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Selling a Home
 The Inspection Process
A home inspection is something a buyer requests and the cost of the inspection is paid by the buyer. In most cases the buyer has 5 to 7 working days from the date of signing the contract to arrange to have someone inspect the home.
A home inspection is an objective visual examination of the physical structure and systems of a home, from the roof to the foundations. The same or a separate inspector may check for damage done by pests such as termites too. The standard inspectors report will include an evaluation of the soundness of the home and may include some opinions as to the general maintenance, current condition and compliance with current council requirements. It is not an appraisal, which determines market value. A home inspector will not “pass” or “fail” a home, but rather describe the physical condition and indicate what may need repair or replacement.
No home is perfect. If the inspector finds problems, it doesn’t mean the buyer won’t buy the home. A buyer has the following options if something is found to be wrong with the home:
- Buy the home as is
- Request you make repairs
- Ask for an allowance be given at settlement to cover the cost of repairs
- Rescind the offer and void the contract.
Some buyers regard the home inspection report as an opportunity for a second round of negotiations, and want everything to be fixed in a “as new” condition. This train of thought is unrealistic. Generally post inspection negotiations focuses on items of a substantive nature. They usually revolve around things that were not disclosed or evident when an offer was made. |
