You wouldn't buy that new or used car without taking it for a spin would you?
Everyone test drives a car before purchasing it. Whether you are buying it from a dealer, a neighbor, a friend, or an advertisement on Craigslist, you'd be silly not to spend a little time taking a test run around the block or neighborhood. A test drive gives you a sense of confidence that the automobile is in normal working order, that there's no obvious defects, and that you can trust the car to get you from point A to point B.
Having the home you are going to purchase inspected by a professional home inspector allows you to "test drive" the house. In years past, at the height of the frenzied Northern Virginia seller's market, many buyers (much to my chagrin and against the advice of REALTORS) were waiving home inspection contingencies, in order to position their contracts to compete against multiple offers for the property. This was a dangerous path to follow. Imagine moving into your new home only to find out that you have a $20K, $30K or more expensive problem that you immediately have to remedy.
Professional home inspections in Northern Virginia typically cost somewhere between $200 and $750, depending upon the size and price range of the home being inspected. Do you remember that old maxim?: An ounce of prevention is worth a pound of cure! No truer words could be spoken about a home inspection. Better to spend $500 upfront and find out what problems exist in the home, than to save a few bucks and be saddled with a major problem once the home is yours.
A home inspector will spend his time thoroughly examining the home you wish to purchase, testing all the major systems (electrical, heating, cooling, plumbing), checking for damage to the home, making sure that the appliances work, looking for evidence of leaks or other problems. Depending on whether he's inspecting a 2 bedroom condo or a 5 bedroom colonial house, a home inspection can last anywhere from an hour or so to 3 or 4 hours. During that time, the home inspector will take notes on any problems he finds with the home, often times taking photographs of major problems as evidence to be submitted with his report.
The home inspector will point out any major and minor problems that exist in the home. Additionally and very importantly, a professional home inspector will itemize any crucial walkthrough issues that are apparent in the home which MUST be fixed by the seller prior to settlement of the transaction. Make sure that you familiarize yourself with crucial Paragraph 7 of the Virginia Regional Sales Contract. READ Mighty Paragraph 7 of the Sales Contract
Remember that when you go to look at a home to buy, you'll tend to look at the amenities, the location, and the aesthetics. You're not a professional home inspector and neither is your REALTOR. You need that critical and trained eye of the home inspector to point out those behind the scenes things that you may have missed on your initial walkthrough.
Even if there is nothing at all wrong with the home you decide to purchase, there's still plenty of value in a home inspection. For one thing, it gives you the piece of mind that there is, in fact, nothing wrong with the home. Secondly, home inspectors will also walk you through the home and point out things of importance about how the home works (i.e. where's the main water shutoff?) and give you details about what to budget for in the future. For example, an inspector may tell you that as of today the water heater seems to be working just fine, but it is getting towards the end of its predicted useful life, and you should budget for replacement in the next 3 years. These are significant bits of information that assist you in your overall homebuying decision.
I always attend home inspections with my clients and through dozens of dozens of home inspections, I find that I learn something new from the home inspector about homes and how they work, what to look for, etc., every single time.
Once the inspection has been completed, if there are any faults in the home, you'll have the opportunity to negotiate with the seller to have these issues resolved either by having the seller repair the faulty items, or providing you with a credit to be discounted from the sales price of the home. In cases when there are serious major home inspection issues with the home, the home inspection contingency provides you with the protection of being able to void the contract and get out of the deal without penalty.
Nobody needs to tell you to test drive that $5K, $10K, $25K car before accepting the keys.
Don't forget to test drive the $500,000 house you plan to purchase. Make sure to have a professional home inspection before accepting the keys to your new home.
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