Friday, 23 February 2018

When Should The Inspection Take Place top?

When Should The Inspection Take Place top?

Resale Home - Pre-Purchase Condo Inspection Toronto

The time to consider scheduling your Condo Inspection Toronto is at the same time you make your offer. If you wait until it is accepted, you may have to quickly scramble to get conditions filled on extremely short notice. Obtaining mortgage pre-approval in advance of an offer and scheduling your home inspection when you submit it, can ease these pressures. Trying to find a GOOD home inspector during busy summer months can be impossible on short notice. We are normally booking 3-5 business days in advance during high season

Regardless of the time of year or how hot the real estate market may be, it's ALWAYS wise to make any offer conditional on key points like mortgage approval, and a "Home inspection to your satisfaction". Waiving these important conditions as a result of pressure from an overly anxious real estate agent or vendor can really land you in hot water when you find out after your dream home has more than it's share of costly issues and now you can't back out of the deal..

Your real estate agent may have included a clause in your offer to purchase, making it conditional upon a home inspection to your satisfaction. If there isn't a clause to that effect,  then you need to include it. We would even go so far as to suggest that you add a clause stating that if your inspector suggests additional inspections by specialized professionals(such as a heating contractor or electrician), there be an allowance to accommodate them as well.

An agreement of purchase is a binding contract, once signed, there may be little room for alterations or changes. No offer to purchase should be signed without seeking the advice of a reputable real estate lawyer who will ensure that your interests are protected within the contract. Rather than making your offer expire by a certain date, consider wording so that you have X numbers of business days after it's acceptance by the vendors to get all your conditions fulfilled. That way negotiations can continue without having to continually rewrite the offer because dates keep passing. 

Remember that items like air conditioners cannot be inspected during colder months and a clause to ensure their satisfactory operation should be considered (we normally suggest that a date like July 1st would allow a purchaser the chance to test an air conditioning unit under hot climatic conditions). You are generally granted a limited time frame to arrange and have your inspection completed. While booked in advance, the actual home inspection should take place after all price negotiations have been finalized and the vendors have accepted your offer. At this point in time, it is evident that you intend to purchase the property. Now is your opportunity to determine the finer details about what you are buying by engaging the services of a National Home Inspector

It is highly recommended that you accompany the inspector during the inspection process. At Home Inspectors® we insist on your presence and encourage your active participation in the inspection process through questions and answers. Most of our clients who are buying a home, end up knowing more about it than the current owners! Please remember that part of the inspection occurs outdoors – so dress accordingly. Also a home inspection is not the time to showcase your new purchase to family and friends. We suggest that only those directly involved in the purchase attend as we will need their undivided attention to explain our findings throughout the Condo Inspection Toronto process.

You should receive a written copy of your inspection report at the time of its completion. At Home Inspectors we provide you with a copy of your report generally onsite – We retain a second reference copy at our office. You may call us anytime for information, as advice is free for as long as you own the home. .

No comments:

Post a Comment