The home inspection period is probably the number one buyer contingency in a real estate contract and for good reason. Purchasing a home is oftentimes the single biggest investment people will make in their lifetime. So having an inspection to find out the condition of the home they’re buying is something a majority of home buyers want to do. However, not all buyers want to spend the money on a home inspection. Then there are some that just don’t think it’s necessary if the home appears to be maintained and in good condition.
So Does a Buyer Have to Get a Home Inspection?
No, a home buyer is not required to get a home inspection, but top Realtors will always encourage buyer’s to do so regardless of the home’s age or appearance for several reasons.
By having a home inspection a buyer will have a better understanding of the homes overall condition. They’ll also be able to find out what repairs or replacements need to be made. Plus, the cost associated with these items. Some home inspectors will even provide a list of items that may need to be replaced in the near future. Big ticketed items like the roof, A/C or water heater, so the buyer can plan accordingly.
Plus, depending on the real estate contract, a buyer may have the option to cancel the contract if they no longer feel the home is the right one for them. They also may be able to renegotiate the price, receive a repair credit from the seller or have the seller make repairs at their expense.
However, if an inspection is never done unforeseen items that need to be repaired or replaced will never be discovered. So the cost will ultimately fall on the buyer, which in most cases will cost more than the home inspection itself.
Yes, an inspection costs money, but so do repairs, which can add up quickly. Over the years I’ve seen buyers save thousands of dollars on repairs because they had an inspection. They submitted the inspection report to the seller and asked the seller to make specific repairs, give them a repair credit at closing or reduce the sales price. Based on my experience a majority of sellers are willing to work with the buyer. Unless the repair(s) were something the buyer knew about prior to submitting an offer.
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Additional Real Estate Advice from Top Professionals
- The inspection report is back and the buyer wants to request repairs. However, as Bill Gassett discusses there are certain inspection repair requests that home buyers should not make.
- What are the most common issues found during a home inspection? Paul Sain shares the top 8 issues found during the home inspection.
- Not all buyers think a home inspection is necessary, which Kevin Vitali discusses in great detail whether or not a buyer should get a home inspection.
About the Author
The above real estate article “Do Home Buyers have to get a Home Inspection?” was written by Michelle Gibson of Wellington Florida Real Estate. Specializing in residential real estate since 2001 in Wellington and the surrounding area. Not only does Michelle assist buyers and sellers, she assists landlords and tenants too. She would love to share her expertise and guide you through the entire real estate process.
We service the following areas; Wellington, Lake Worth, Royal Palm Beach, Boynton Beach, West Palm Beach, Loxahatchee, Greenacres, and more. If you are considering selling your home, we welcome the opportunity to work with you and list your home with a top Realtor in Wellington Florida