Home Inspections provide the single most important and invaluable piece of information for the buyer. For years, Home Inspections were not even considered as being a part of the contract. That was when Purchase Contracts were geared more for sellers’ rights and the buyer had a more caveat emptor (buyer beware) approach to the sale of homes. Due to the rise of buyer agents, this language has been tempered. Now, you will find the Central Ohio Purchase Contract being a little less one sided.
The largest change in the Central Ohio Purchase Contract came when Home Inspections were included within the text as a contingency that needed to be met before closing day. This gives the buyer the right to have a third party, unbiased inspection done for their knowledge of the condition of the home. Now, Central Ohio’s Purchase Contract allows for the buyer to request a remedy from the seller to fix the unsatisfactory conditions found on the premises. However, a buyer cannot “…TERMINATE THIS AGREEMENT FOR COSMETIC OR NON-MATERIAL CONDITIONS…” Basically, there needs to be a structural or health issue that the buyer feels that they are not willing to deal with in order to terminate the contract. The remedy needs to address those conditions. This is where you watch for the cues that the inspector gives you on what is IMPORTANT.
Interviewing Home Inspectors should be a top priority because you want to know their process and understand the length of time that they will be on the premises. Also, you need to be aware of the cost. Having an inspector who includes pictures with their report is an important benefit to consider. Pictures are worth a thousand words and are documented evidence of the conditions that your home inspector sees. It is always good to be cautious about believing other peoples’ words. Proof, documentation and facts will back up the words and provide the tangible evidence needed to make your case to the seller of the remediation that is needed for the home.
Remember, without a home inspection, you are buying at your own risk. Only if you are confident in your handyman abilities, going to level the property, or have extremely deep pockets should you ever consider buying a non-inspected property. This is one consumer protection that you need to add to your budget when buying a home.