Do I Need A Home Inspection?

Congratulations! You found a home you’d like to purchase and now it’s time to write up the offer. You might be wondering whether or not you need a home inspection? While your REALTOR® will explain the benefits of obtaining one, understanding the basic process will help you to make an informed decision.

Do I need a home inspection?

Getting a home inspection is always a good idea. Even in a competitive market, waiving your right to a home inspection could result in costly repairs down the road. While the seller is required to disclose material facts that could adversely or significantly affect your use and enjoyment of the property, there could be things the seller doesn’t know about yet. Waiving an inspection leaves you with little or no recourse. 

What if the seller already had a city inspection done?

In some cases, a seller may provide you with a copy of a Truth-In-Sale-of-Housing (TISH) inspection report. Minneapolis and St. Paul (along with some inner-ring suburbs) have their own municipal inspection requirements and home sellers in these cities are responsible for completing this prior to listing their homes for sale. 

However, TISH inspections are generally limited to health and safety issues. For that reason, some buyers will still request their own inspection. This gives you the opportunity to walk through the home with a licensed professional who can point out other potential problems, explain your home’s mechanicals and give you more in-depth information.

Who pays for the inspection?

If the seller is required to obtain a TISH inspection in advance of listing their home for sale, the seller pays for it. The seller is required to share a copy of the TISH report with potential buyers. If you schedule your own inspection (as the buyer), you pay for it. The inspection report becomes your property and you are not obligated to share that report with anyone (not even the seller). 

Does an inspection give me more negotiating power?

The general answer is yes. Should any major issues be uncovered during the inspection, the seller would be required to disclose these issues to any buyer. As a result, they are typically more open to negotiating an offer they have already accepted. Buyers can either ask the sellers to correct the issues prior to closing or to make monetary concessions.

Still have questions about the home inspection process? Contact your Cedar Haven Real Estate Agent today!