Why you Should Never Pass on an Inspection
During a time when properties were in high demand and multiple offers were presented on properties, buyers were skipping the inspection period. In my real estate career of nearly 30 years, I do not cease to stress to a buyer to hire an inspector. Occassionally, a buyer will want to skip the inspection process on a "well-maintained" property or skim on the closing expenses It is my intent in my representation to follow through with an inspection. Why?
1. Any due diligence or knowledge you need in order to make a decision on a property is gained through an inspection. Much is uncovered that even an owner of the property may not know.
The Florida contract places the seller with disclosing all known facts regarding the property and the due diligence is on the buyer to discover any additional inadequecies. In most transactions, a seller disclosure on the FARBAR form will be provided by the listing agent. If not, ask for seller disclosures for the property. Many times a seller may not know of a maintenance item or needed repair. Such as a roof, plumbing or electrical issue is they are not readily seen.
When I sold my own home several years ago, it was discovered that the alcove over the front porch had rotted wood under the shingles. It was in an area of the roof or attic that was not easily accessible nor was it showing any distress or leaks. The home inspector did not miss it though! It was quickly repaired and the contract was able to move forward.
2. For financial reasons - You may be expecting smooth sailing when you purchase a property and then the bottom falls out. A repair costing thousands of dollars is discovered and can lead to draining your bank account or not being able to take that dream vacation.
3. Once the ink is dry on the closing paperwork, there is virtually no recourse unless a buyer can prove the seller intentionally did not disclose the defect. The property is yours with all the perks and maintenance and repairs that come with it.
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