It is a great day when Worcester residents are able to purchase homes and move their lives into their new residences. Many people experience the joy of homeownership for a long time before they must address any problems with their new purchases, though some are quickly hit with unwelcoming surprises about their new abodes.
Many people seek out professional home inspections before they enter into real estate purchase contracts. Home inspections are comprehensive reviews of homes’ structural and mechanical systems by licensed professionals and can reveal big problems that buyers may miss when they walk through properties.
Not all homeowners looking to sell their properties will voluntarily put home inspection clauses in their contracts. This may be because they honestly do not believe that there are any problems with their homes or because they know something may be found that will lower the property’s value.
With the help of a legal professional a potential buyer can work with a seller and his agent to incorporate a home inspection clause into a real estate contract. Often the buyer will be responsible for paying the cost of the home inspection and that cost can be close to $500. This sum is rather small in comparison to the catastrophic costs a new buyer may incur when a heater, plumbing or other system fails in their new residence.
When preparing to include a home inspection clause in a real estate contract there are several important factors related to timing and payment that should be addressed. These and other details can be worked out during the contract preparation process and legal professionals in the real estate field can help buyers make sure their purchases go smoothly.
Source: Daily Inter Lake, “What a home inspection can do for you,” Oct. 9, 2013