Once a Purchase Agreement is accepted, the Buyer has an option to contract Home Inspection Companies to examine the home for possible defects. While at first glance this may seem detrimental to the Seller, it actually benefits the Seller. In most instances the Seller will be selling the home “As is, Where is” meaning the Seller is not responsible for repairs after the act of sale. Sellers want the Buyers to purchase the home knowing the condition prior to purchase and be excited about owning their new home.
The Home Inspector will examine the home extensively and generate a report concerning any defects. Depending on the nature of the defects, the Buyer may ask to have certain defects remedied before the act of sale. At this time, the Seller may dispute the findings of the Home Inspection with a specialist. For instance, a Home Inspector may claim an HVAC unit needs to be replaced. The Seller may hire a HVAC specialist who finds the unit works well and a replacement isn’t necessary at this time.
The Home Inspection also adds a layer of protection regarding these defects which are now considered “known”. The Buyer cannot claim after the purchase that items were known by the Seller and not disclosed to him/her when the Buyer’s inspector made the deficiencies known to him/her.