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Which is better: to have the home inspected before you
make an offer, or after? Most commonly, you will
order an inspection after you know that your offer is
acceptable to the seller. If the price you are prepared
to pay seems to have no chance of buying the home, paying for
an inspection ($250 - 350) is a waste of money.
That’s the conventional thinking and it usually is sound.
However, homebuying is a flexible undertaking and much is
dictated by the particular circumstance in which you find
yourself. It isn’t always best to leave your
professional home inspection until your offer has been
accepted . You could have this carried out between
offers, while the negotiation is still in progress.
Perhaps before you make your second, third, or final offer
when it can be the catalyst in making the deal.
Naturally, any offer you make before the inspection will carry
a contingency clause stating that you will go through with the
deal only if the results are satisfactory to you.
A later inspection can sometimes give you even greater
advantage than an early one. Let’s say you have
reached agreement with the seller. You have negotiated
well and have won a good reduction in the selling price.
The seller’s anticipation is heightened. He sees the
deal as a done thing. He is glad the whole process is
over. Then, if the inspection reveals problems, it is
much harder for him to back out. He is far more likely
to agree to a lower sale price or, at least, pay for the
repairs or replacements that are needed.
If you are a first time buyer or new to negotiating, it is
probably better to negotiate a price first. Then, have
an inspection carried out and try to get the seller to pay for
any work you consider necessary or to agree to a lower price.
This Homebuyers Tip was excerpted from:
Not One Dollar More!, by Joseph Eamon Cummins, Kells Media
Group, 1995.
ISBN# 0963821598
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