Definition
An evaluation of a home’s condition, usually done before a purchase. It helps identify any issues that might need repairs or affect the home’s value.
What to consider
- Schedule an inspection to uncover any hidden repair needs.
- Use the report to negotiate a better purchase price.
- Keep a copy for future reference or resale purposes.
Real world scenarios
- Ben’s inspector finds a small plumbing leak, so the seller agrees to fix it before closing. This discovery saves Ben future repair costs.
- Rebecca’s inspection reveals no major issues, confirming the price is fair and giving her peace of mind.
- When the roof needs replacement, Chris renegotiates a credit at closing to cover a portion of the repairs uncovered by inspection.
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