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The Importance of a Home Inspection

By Tiffany Raiford

Home inspections in Wisconsin are one of the most important aspects of any home sale. As a buyer, you want to ensure that a home inspection is complete prior to making the purchase of a home. The reason behind the inspection is to ensure that the home you want to purchase is in perfect working order, to bring attention to any issues that might be wrong with the home and to help you renegotiate the price of a home if need be.

Purpose of an Inspection

The purpose of a home inspection is to make sure that nothing needs replacement or repair. As the buyer, the last thing you want to do is find yourself signing a contract to purchase a home, moving in and finding out that you have to put thousands of dollars in to repairing the roof or the foundation or the electric. The purpose is to protect the buyer. If something is wrong with the home and the buyer does not want the responsibility of repairing it, you have the option to retract your bid and get out of the contract. Inspectors check the foundation, the roof, the heating, the cooling system, the electric, the insulation and everything in between.

Options Buyers Have

When an inspector finds an issue with the home, you will know what the issue is. You have the option to decide whether or not this is an issue you want to work with on your own, such as a GFI that doesn't work or a roof that needs replacing. Some buyers are okay making those changes on their own. For example, if the home you want to purchase is one you plan on remodeling and replacing things such as the roof anyway, you might not care that the roof needs replacement. Sometimes, however, an inspector might inform you that a secondary inspection is necessary.

Renegotiation and Inspections

One of the benefits that comes from a home inspection is the fact that it gives you the power to renegotiate the price of your home. Let's use the example that you have a home that needs a new roof right away. This is an expensive fix that can cost anywhere from a few thousand to $20,000. That's not an expense you want to carry. You can renegotiate with the seller. You have the power to ask the buyer to renegotiate the price of the home to help you pay for the roof, to pay for the roof on their own or to do pretty much anything you want. You have the power.

When you find a home that you want to purchase, make sure to have an inspection. When the inspector finds an issue with the home, your job is to see how that issue affects you and whether or not you can renegotiate the price of the home to accommodate the fix that is needed.

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