08/29/2023
She's 100% right about everything ;)
Today's we're going to switch gears a bit and do .
Every Friday (if I remember ;) I'll post some super helpfun (yep, not a typo) info to help you learn more about the real estate market in general and the market in particular.
Let's start with and why you absolutely, positively must have one if you're buying and you "may" need one if you're selling.
Ok, why get a home inspection?
While this may seem obvious to some, many folks opt out of an inspection in order to win at multiple offers or maybe they think the home is new(ish) and doesn't need it. Or maybe they can't "see" any issues so they don't think it's necessary.
WRONG!!!!! (are 5 "!" enough?)
Home inspectors (at least in BC) are trained to find the stuff that is hidden. The things you can't see. The things you can't know. The things others may not want you to see.
For example, you probably don't know what Poly B piping is. (I didn't either). It was used for a time in home building in BC. It's not anymore. Many homes still have it. The problem is, this stuff breaks down and can cause leaks. It may have already caused some that were covered up. But, equally important, some insurance companies won't cover water damage if you have Poly B. How much is it to replace? Depends on the size and structure of the home but it could be costly.
YOU NEED TO KNOW BEFORE YOU BUY! (I can go into more detail about this with you offline. Anytime)
Why would you need a home inspection if you're a seller?
When I'm selling a house that is over 25 years old I often order, and pay for, a pre-inspection but I ask my inspector to run it through the wringer. Why? Because I don't want a buyer to make you a great offer then either reduce or rescind that offer based on what their inspector finds.
My main goal in selling your home is to make sure it's as stress-free as possible (to you. Me? I'm taking on the stress! ;) If you list for $2m and get an offer for $2.2 then the buyer does an inspection and finds a ton of things wrong and asks for a reduction in the purchase price of $300,000 (and you've no other offers) you're going to be sorely disappointment.
However, if we do a pre-inspection we will know everything that may come up and I can mitigate that at the offer stage. That way the offer is the offer. No surprises.
Not all agents use this strategy but I find my expenditure of $700-$1500 on an inspection at the outset will net you a much better result. It's a calculated risk and, by my calculations, it's worth it. (I have some great stories about a pre-inspection saving my hide!)
Let me know if you have questions. You can DM me or just call 604.764.0990. Doing so does not mean you'll be inundated with emails ;) Also, I have the best inspector around so if you need one, let me know, I've got you!!
