When you purchase a home, Toronto Real Estate Sales Representative Arius strongly recommends you have a home inspection done by a qualified home inspector. Failure to have a proper home inspection prior to purchasing may result in significant expenses after you close and could lead to buyer’s remorse. A typical Purchase and Sale agreement will include a standard clause with respect to home inspections to protect you in the event the home has defects that were not disclosed or discovered when viewing the property. When real estate markets are extremely active and you really want a particular home, skipping the home inspection and not placing this kind of condition in an offer can be tempting. Before you make such a decision, consider the benefits of a home inspection.
If there is a Seller Property Information Statement (SPIS), you may receive a copy and have a general sense of comfort about the history of the property. However, you should keep in mind that the person selling the home may not be aware of property defects and that the information provided in the SPIS is based only on their personal knowledge. Therefore you should not rely solely on the information provided in a SPIS.
While representing you in the transaction we at Grange Real Estate have the experience to identify visually obvious defects, but underlying problems may still exist.
A qualified and experienced home inspector will examine the major systems and defects in the home such as:
After a home inspector has completed a home inspection, you will receive a written report detailing the condition of the property. Since your Offer to Purchase is often conditional of the inspection, you should ask for the written report to be delivered as quickly as possible with respect to the deadline of the contingent clause of the Offer to Purchase.
Many home inspection companies encourage you to attend the inspection and ask the inspector questions during the process and about the results of the inspection. The decision is yours to make, but you will be better informed and able to assess whether or not you want to invest in any upgrades or repairs that might be needed.
Home inspectors are not regulated by the Real Estate Council of Ontario (RECO) which is the primary reason to be selective in hiring the right home inspector. Arius will assist you in the selection of a qualified home inspector.