Pre-Purchase Inspections: What You Should Know
Pre-purchase inspections have always been an important step in buying a house. In a market that is highly competitive, it’s becoming more common for buyers not to do an inspection in order to improve their position. This practice, however, carries significant risks for buyers. What you should know and why a pre-purchase inspection is important.
Why Do You Need To Have A Condo Or Home Inspection Done?
A specialist will inspect the property to determine its condition and any potential issues that may reduce its value or usability.
This inspection will help you determine any additional costs that may arise after the sale. You may decide to change your purchase price or cancel your offer based on the information you receive.
Is A Home Inspection Required?
Although it is not compulsory to have the property inspected before buying, it is highly recommended. You will not be able to take legal action if you don’t have an inspection and then discover problems in the house a few weeks after buying it.
When Should A Home Be Inspected?
The process of purchasing a home involves several steps, including searching and visiting properties and being pre-approved for mortgages. The home inspection takes place after the conditional purchase offer has been accepted by the seller. The clause in the promise of purchase that requires the inspection will specify a deadline (typically between 7 and 10 days).
How Can You Find An Inspector That You Can Rely On?
A professional building inspection should be a part of a recognized organization. This is the largest association of its kind.
The AIBQ is designed to protect the public by ensuring that all building inspectors are:
- Hold an Attestation of College Studies in Building Inspection
- Both liability and errors and omissions coverage are important
- Use a service contract and a standard of practice
- Provide a written report which meets the standard practice
- Complete at least 10 hours of training per year
What Is A Home Inspection?
Clients are welcome to accompany the inspector during the inspection, unless there is an issue of major importance.
The inspector can then explain to the client what they are looking at as they inspect.
The length of an inspection will depend on the size, condition and accessibility of the building. A single-family detached house in good condition will require an inspection lasting approximately two and a quarter hours.
What Is Inspected At The Time Of Pre-purchase Inspections?
Pre Purchase Inspections in Ottawa are a thorough examination of every aspect of the property. The building inspector will describe the severity of any problems and how urgently they need to be rectified. The report will differentiate between serious and minor issues, as well as make recommendations for the safety of installation. The inspector can recommend that an expert in a related field investigate further if necessary.
Building Exterior
Inspectors will begin their inspection outside of the building. The inspector will check the roof, windows, siding, balconies, stairways, foundation, sidewalks, driveway and look for any safety concerns or problems.
The inspector will inspect the garage, wall, ceilings, door separating the living space from the garage, heating system, garage door and floor drain.
Building Interior
The inspector will then proceed to the basement and the upper floors. The inspector will examine all visible components including walls, ceilings floors, stairs, foundation, plumbing electricity ventilation heating counters and cabinets and will look for any safety concerns.
The inspector will also inspect the crawlspace under the roof, checking the structure, vapour barrier insulation, ventilation, and safety.
The inspector will check the list for any signs of water infiltration or moisture. They may also look out for insects and vermin.
Understanding The Inspection Report
The inspection report contains a description of the parts inspected, photos of them and an evaluation of their condition. The report also includes recommendations for work that should be done if needed. This report will be provided by the inspector, usually within 48 hours after your visit.
Inspecting The Report:
The following information must be included in an inspection report that meets AIBQ Standards:
- Name of the applicant
- The context of the inspection (pre-purchase or pre-sale report, building condition report).
- Weather conditions at the time of inspection
- Date and time of inspection
- Names of those present
- The building that was inspected
- Images to back up the Inspector’s findings
- Name of the inspector
- The company’s physical address
- Name of legal entity or person (the legal name for the business)
- The signature of the inspector
- The inspector’s statement of no conflict of interests
- Declare that the Seller’s Declarations form has been filled out and reviewed (if not, explain why).
Items Covered By The Inspection Report
The inspection report includes a detailed assessment, accompanied by photographs if necessary.
- Structure
- Exterior
- Roof
- The Plumbing
- Electricity
- Heating
- Air conditioning
- Interior
- Insulation
- Ventilation
- Personal safety
What Should I Do With My Inspection Report?
You have a few options if the inspection revealed that urgent or critical work was required.
- Negotiate a lower price for the sale based on what the work will cost. Your real estate agent can give you advice on the best strategy for negotiating.
- Before taking possession, you can ask the seller to perform certain tasks.
- If the promise was contingent on an inspection, and the required work is deemed serious and hinders or reduces the usability of the property in a significant way, you can withdraw the purchase.
What The Building Inspector Is Allowed To Do And What They Are Not Allowed To Do
The inspector represents their client’s interests. There are things that they cannot comment on
- Costs of repairs and renovations: Contacting a contractor is the best way to obtain an accurate estimate. The contractor will be able assess your needs, the materials required and the manpower needed to complete the job.
- Lifespan inspected items: Determining the life expectancy of an item can be difficult, especially if incorrect installation was done. Inspectors focus on detecting visible deterioration but cannot provide an accurate estimation of lifespan because it is dependent on many factors such as initial installation, exposure to environmental factors and the quality of the product.
- The presence of hazardous materials, such as asbestos or iron ochre: The inspector will only visually detect the presence of these substances. Instead, they will recommend that a professional perform an analysis.
- The market value of the property is determined by the real estate agent: The broker must provide comparable, and use their expertise to determine the market value. A buyer can also hire an appraiser.
Pre-purchase Inspections Are A Good Investment.
An inspection prior to purchase is essential for making informed decisions when buying a property. It is important to search carefully for properties that meet your budget and needs. You will have a better chance of finding your perfect home if you do a thorough inspection and research.
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