Why You Need a Home Inspection

When you look at condos or houses for sale in Panama City Beach, a typical showing will only answer some of your questions. The location, the size, and the potential of the property might be obvious, but the condition of the home itself can be difficult to determine without the help of a professional. This is where a home inspection comes in.

Most of the time, a home inspection will be a required part of the home-buying process. Whether it’s a Panama City Beach vacation rental, a personal vacation home, or your primary residence, making sure to have a home inspection completed before closing on the property is best practice to protect yourself.

What is a home inspection?

A home inspection involves hiring a licensed, professional home inspector to complete a thorough review of the condition of the property. The inspector will seek to discover any current problems that need to be addressed, or the potential for repairs and maintenance that will be coming soon.

The purpose of a home inspection is not to discover every last detail of the condition of the home, but to at least reveal the status of the major systems of the property, including plumbing, electrical, structural, heating, cooling, water, and sewage. After completing the inspection, an inspection report will be provided to you so that you can have an idea of the condition of the home, and potentially negotiate with the seller based on discoveries the inspector made.

How much does a home inspection cost?

The cost of a home inspection will vary depending on the size of the property and the inspector you hire. A home inspection will cost $400 on average, usually paid as a part of your closing costs, and a typical price range is anywhere from $300-$800. This will cover the time it takes for the inspector to review the property, as well as the work that goes into writing up a report of the inspection.

Why do I need a home inspection?

A home inspection is one of the best ways to protect yourself from biting off more than you can chew. When it comes to buying real estate, you can’t always judge a book by its cover. The home you have made an offer on may look to be in great condition, but be in need of major costly repairs as soon as you buy it.

While you may still want to move forward with the purchase even if a major repair is necessary, knowing what you can expect is an essential factor in successful real estate deals.

What happens if the home inspection report reveals major problems?

So what do you do if the home inspection report reveals a major problem with the property? In this case, you can decide to either back out of the deal entirely or negotiate a new deal with the sellers. Working with the right real estate agent is essential in this scenario, so that you have a professional to support you in negotiating a deal that still works in your favor.

In some cases, a buyer will ask for a credit to cover the costs of the repair. They may also ask for a lower purchase price in light of the new information, or even ask the seller to have the repair completed as a condition of closing on time. If this happens to you, we can help you determine what the best course of action is for your unique scenario.

To learn more about homes for sale in Panama City Beach, contact us any time!