Featured News 2016 Who Pays for the Home Inspection?

Who Pays for the Home Inspection?

If you are about to purchase your first home, you may be wondering, "Does the seller or the buyer pay for the home inspection?" Usually, it is the buyer who pays for the home inspection because they are the one that benefits from this service. However, that does not mean that a buyer cannot convince the seller to pay for the inspection. That would not be outside the realm of possibilities.

Some realtors contend that it's ideal for the seller and the buyer to have inspections completed, in which case each party would bear the cost of their own inspection.

If a seller wants to make their home even more marketable, they would ensure that they had a proper inspection and a pest control report before they put the house up on the market.

Buyers Should Always Have an Inspection

Regardless of what the seller does, the buyer should always have an inspection done to protect themselves. If possible, it's beneficial to hire an inspector with a background as a contractor, engineer, or architect as this experience helps them tremendously.

When you hire an inspector, make sure they are certified by a state organization, such as the California Real Estate Inspection Association (CREIA) as well as the nationally recognized American Society of Home Inspectors.

A thorough home inspection can catch something in need of major repairs, which would be a deal-breaker. Buyers can leverage these issues for bargaining if they strongly desire to buy a specific home.

Unfortunately, if you happen to live in a small town and the same inspector just wrote up an inspection on the same property for another potential buyer on the same house, you would still have to pay him or her for the same exact inspection, even if they already received payment from the other potential buyers.

For further information about home inspections, use this directory to find a real estate attorney who can provide the advice you need!

Related News:

Facing Foreclosure? You Might Be Able to Work with Your Lender

You may have already fallen behind on your mortgage. Perhaps a government loan modification fell through, or you do not qualify for another Making Home Affordable program. You still have options for ...
Read More »

Homeowners Sue Banks Over Flood Insurance Program

Homeowners in New York recently rose up against Citibank and MidFirst Bank in order to argue against the high-premium flood insurance policies they were being forced to pay. According to one source, ...
Read More »

Tips for Transferring your House Title

If you are going to transfer your housing title to another individual, it can get a little complicated. Typically, parents will transfer their housing title to a son or daughter if they decide to ...
Read More »