1. Buyers can consider the reported conditions of the home’s systems to determine their ability to afford to maintain the property. A home with a 12 year old water heater, an 18 year old furnace and a 25 year old composite shingled roof is going to need some costly investments in the near future.
2. Buyers can sometimes use information regarding undisclosed defects to negotiate the seller’s action to repair the defect(s) or adjust the asking price for the home.
3. Sellers can obtain a home inspection and use the report to disclose known defects to potential buyers.
4. Sellers can obtain a home inspection and use the report to identify and correct significant defects that could interfere with a buyer’s desire to submit a contract to buy the property.
5. Buyers can use the inspection report as a “punch list” or “to do list” for maintaining the property after purchase.
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Tags: Inspection
