Why does anyone invest money in purchasing a new home? You may want to invest in the property for its future potential. As the investment is big, you always expect better returns in the future. The property market is booming and offers ten folds returns on any investment. But how do you be sure that all properties may offer higher returns in the future?
This certainly is not possible unless you get the property inspected for its condition by a professional home inspector. You can hire the best home inspection in Sherwood Park team. The professional home inspection team will inspect the property and determine if it needs repairs and renovations. The general purpose of home inspections may differ from one person to another.
Why do sellers want home inspections?
The home inspection conducted by the sellers is generally termed as the pre-listing home inspection. This type of inspection is conducted by the sellers so they can claim that the price they quoted is best for the buyers.
Once the inspection has been conducted by the team, the report will determine if the house is worth the market price or not. If there are minor faults, then the sellers can undergo repairs. The reports and bills of the repairs can be attached along with the home inspectors reports.
Why do buyers need home inspections?
Buyers are not like sellers. They always want to understand if the property is worth the amount they are paying to the sellers. The general purpose of the buyer side home inspection is to determine if the house can be sold for a better price in the future.
This is only possible if the house is in good condition for the next few years. If the foundation is already weak, then the property may easily collapse even before the buyer sells it in the market. To avoid this the sellers may have to undergo renovations, which may or may not be expensive.
So for buyers, home inspections will make the right decision. They can decide if they want to buy the property or not.
What do homeowners want from home inspections?
Homeowners are the occupants of the property. They have no interest in the current value of the property. They want to be sure that the property is safe for them to stay under the roof. Homeowners may also want to ensure that the value of the property is well maintained so they can expect a high price in the future.
For homeowners, the property is always considered the best investment. But because they are staying in the same property so they may also want to ensure that the house is safe.
Do home inspectors certify the property value?
There is no right or wrong answer to this question. This depends on the person who has hired the home inspector. Legally, any home inspector is not entitled to calculate its value. Home inspectors cannot certify the current value of the property.
- Sellers side home inspectors
If the home inspection team has been hired by the sellers, then they may only rectify the current condition of the property. They will highlight the major issues that need instant repairs.
- Buyers side home inspectors
If the buyers have hired the home inspection team, then the report will be submitted that highlights the areas that have issues. Based on the reports, the buyers can negotiate the price of the property. The home inspection team may never certify if the price quoted by the sellers is high or low.
- Investors home inspectors
If investors have hired a home inspection team, then they will only be notified if the property has any future potential. The inspection team may only declare the exact life of the property.
In any case, buyers, sellers or investors are free to sell the property or carry out repairs before selling or buying.
