https://youtu.be/D3eh6Zo3y3w Forecast Real estate There are two camps for the 2021 forecast: the bulls…
Real Estate Home Inspections in the Vancouver Explained!
There is a lot of confusion surrounding a home inspection in Vancouver, particularly among first time home buyers.
Common questions include: What is a Home Inspection? What’s included? Is a home inspection for the benefit of the buyer? For the seller? For the bank/lender? Will the seller be able to see the inspection? etc.
To answer these common questions, Dave Brighton from Brighton Home Inspections has been kind enough to meet with us to answer these questions for us.
What is a Home Inspection in Vancouver?
A home inspection is when a qualified home inspector does a survey of the exterior, interior, structure, basement/foundation, roofing, heating, plumbing and electrical of the property and prepares a report for the client. Inspections often include access to the roof and boiler rooms is required. (Please note – Some strata councils don’t allow inspectors into those areas due to liability or for fear of voiding the Warranty)[Buyers page=”What is an Inspection”]
The home inspector should be able to tell a buyer what the major issues are with a property (both condos and houses) with fairly high degree of accuracy.
Are Property Documents and Home Inspections Linked?
YES! Documentation on the property (PCDS, Strata Docs, etc) will have valuable information both for a home inspector and a buyer about the physical condition of the home.
For condos, I always recommend Buyers read all the strata council minutes before they get the home inspection for two reasons. First, if there is a total deal breaker in the strata documents there is no chance the Buyer won’t have to get a home inspection.
The second reason is that a lot of buyers may not be familiar with some of the concepts, some of the jargon, some of the things that have to do with the physical condition of the building. When reading the minutes, its recommended to make notes of all the things they don’t understand or have questions about, or they’re worried about, and then bring them to the home inspection and have the home inspector read them.
Home Inspectors Read Strata Minutes?
YES! Home Inspectors are always available to read strata documents and property documents. It’s important to have the home inspector read them as they use the documents to get insight into the property’s condition.
Who is the Home Inspector Reporting to?
Whoever has hired them. When a Buyer is getting a home inspection, that home inspector is loyal to the buyer only. The home inspector has no loyalty to the buyer’s agent, to the seller’s agent, to the bank. And the home inspection report goes to no one except the buyer. Many home inspectors including Dave Brighton have a clause in their contract to allow a copy of the report to your agent, but if you choose not to, it’s completely confidential.
Is a Home Inspection Required or Recommended?
A home inspection is very rarely required (banks sometimes require them), but is ALWAYS RECOMMENDED! I recommend getting a home inspection for two reasons:
- Its Cheap Insurance – A home inspection can let a buyer know if there are major (minor) issues with the property before they remove their subject conditions. If the inspection comes back with something the buyer does not like or is not comfortable with, they can walk away from the deal or renegotiate. I recommend home inspections for all properties, including brand new ones!
- Clarity for Renos & Repairs – If the buyers plans on renovating or repairing the property, a home inspection can give a buyer a clear idea on the issues and what may be required to get a better grasp on costs for the anticipated work.
If you want to learn more about Dave Brighton check him out at brightonhi.com or directly at 604-290-5557.
Whats it Cost to Sell a Home in Vancouver?
Check out this Vancouver Real Estate Fee Calculator!
Fees to Sell a Home are Tax Deductible?
Sometimes! Find out when Real Estate Commissions are Deductible with VIDEO!