While inspections are not strictly mandatory when buying a new home or other building, it is almost always advisable to do so. If you do not get a property inspected before you buy, you could set yourself up to deal with enormous problems later on. Here are five major reasons why you should always get real estate inspected before you agree to purchase it:
- The property may have hidden structural damage
- When a property suffers serious damage, such as might happen during a major storm or a fire, the process for repairing it can be extensive and expensive. Unfortunately, it is also possible that damage from these incidents might be missed, leaving a property with serious structural problems that can make it unsafe to inhabit. Inspections can discover this damage and give you the opportunity to address it safely.
- The property may be infested with insects or vermin
- Just because you do not see any insects or vermin when you are touring through a property does not mean there is no risk of an infestation. Rats, cockroaches, mice, bed bugs, carpenter ants, termites, and other similar pests can all pose a major nuisance, and in some cases, may cause damage to your property. Inspections can check for potential nests, giving you the chance to clear them out before you decide to make a down payment.
- There may be damaged or failing utilities
- No property is ever just the house structure, of course. Homes and other buildings have boilers, HVAC systems, gas lines, and other critical utilities that may become degraded or damaged over time. An inspection can reveal any potential problems with the utilities in your property to make sure they get repaired or replaced, protecting you from needing to deal with them after you have already bought the property.
- There could be toxic materials
- While this has become less of an issue over time, many older buildings are still rife with toxic materials, such as asbestos, lead, and mercury. Even then, there is always the risk that your property will have potentially dangerous materials involved in its construction. Removing these toxic materials can be difficult and expensive, and you should know they are there before you choose to buy a property that has them.
- There may be code violations
- Finally, there is always the chance that you could be dealing with building code violations. In addition to meeting fire safety standards, every building is supposed to have electrical and plumbing that meets specific legal standards. However, some buildings are out of code due to their age, while others may have been worked on by incompetent or negligent contractors. If you do not deal with these code violations, you could face significant legal and financial problems later on.
At Liongate Homebuyers, we assist our clients with a variety of services related to buying and selling real estate. We have experience handling real estate financing, especially for developers and house flippers. If you are interested in selling your home for cash, please contact us at (800) 495-9132, or visit our contact page.
