One of the major conditions in a Purchase Contract is the subject to inspection. This condition means that the buyer is able to back out of the deal if a home inspection gives unsatisfactory results.
This home inspection clause is designed to protect the buyer from pruchasing a home that may have “unseen” issues, invisible to the naked or untrained eye. By bringing in a professional you can attain a peace of mind about the new home and will pay a fair price based on the home’s current condition.
Whether you are a buyer or a seller of BC real estate take five minutes to read about the home inspection process.
The Home Inspection Process
Once you have placed an offer on a home you will need to arrange a home inspection before the sale is finalized. This includes:The value of the home inspection process is having an independent, third party inspect the home without any outside influence from the buyer or seller’s side. At the end of the process the home inspector will present an unbiased opinion of the home.
- Hiring a home inspector
- Having the home inspected
- Reading the home inspection report
- Acting on the inspection results (finalizing the sale, requesting repairs or backing out)
A Note on Property Disclosure Statements:
Each seller completes a Property Disclosure Statement providing any known information about the status of the property including deficiencies. However, often times this detailed report contains omissions or inaccurate information. How is a buyer to know shingles are deteriorating on their upper roof or there is a mold problem beginning in the bathroom walls?
It is best to use a professional home inspection process to accurately pinpoint any issues the property has and to determine if the house is sound (worth purchasing), what repairs need to made and the real cost or purchasing the home.
Areas of Home Inspection
The home inspection process examines the current state of the following components and how they are expected to mature in the future:
- Structural
- Exterior finishes
- Roofing
- Plumbing
- Electrical
- Heating
- Air conditioning
- Interior finishes
- Insulation
- Ventilation
Some home inspections also look for buried oil tanks, asbestos, mold and other infestations.
When hiring a home inspection company it is important to ask what specific aspects of the home are including in their standard inspection services. Ask the inspection company if they recommend any addition areas of inspections depending on the age, type or location of the home in question.
Home Inspector Certification in British Columbia
By hiring a qualified and certified home inspector you will be working with a licensed professional with training, expertise and ability to deliver an impartial opinion on which to base your purchase decision. Visit the British Columbia Institute of Property Inspectors (BCIPI) or the Canadian Association of Home and Property Inspectors BC (CAHPI) for some great tips on how to choose a competent home inspector.
Some questions you may like to ask a Home Inspector before hiring:
- Do you have testimonials from previous clients?
- How long will it take to finish the inspection?
- What type of report will I get?
- What are the fees for your home inspection services?
Home Inspection Cost
Typically the Purchase Contract specifies that the buyer pays for the home inspection and responsible for its cost. This allows the buyer to obtain an unbiased report.
It is difficult to say exactly how much a home inspection costs because it depends on a number of variables including the ability of the inspection company. Be warned that if you hire the cheapest home inspector in your area you risk receiving an incomplete report or inaccurate results. When you are a basing a $300,000+ decision on one report you want the inspector to know what they are doing so you don’t end up with any unpleasant surprises. Spending a couple thousands dollars on a home inspections may save you thousands more in the future.
Where to Find a Home Inspector
If you are a first time home buyer there are a few ways to find a well qualified and trusted home inspector:
- Ask friends and family members who have purchased a home in the last five years
- Ask your BC realtor to recommend their favorite home inspector or inspection company
- Use the CAHPI BC Lower Mainland home inspection search tool
Need to book a home inspection? Get in touch with me and I can refer the most reliable and dependable home inspectors in Greater Vancouver. Please call or text Natasha Taylor at 778-316-4290.