Buyer beware – or so the expression goes! And frankly, there is merit to this saying, so why would you buy the single most expensive asset of your life without a home inspection?

It is your responsibility to do your due diligence, as most sellers will not volunteer information. Having said this, a word like “recently” is subjective. So, if a homeowner says that the roof was “recently” done, their definition of “recently” might be five years or more, whereas when an inspector looks at it, they will be able to tell you that the roof is already past a third of its lifecycle.

Different ways of obtaining a home inspection

🏡Negotiating a home inspection condition:

Typically, when you make an offer to purchase a home, you make it conditional on one or more things. A home inspection and financing are the most common clauses. In a multiple offer situation, you may waive these rights to remain competitive with your offer, but we’ll address this more in the following two sections.

When you negotiate an inspection clause into your offer, you now have the right during a certain allotted time to go in with an expert of your choice and carry out your condition. Some buyers go in with the mindset that they hope to find a bunch of issues so that they can go back to the seller and negotiate more off the price. However, this is not the best mindset to approach an inspection. Instead, you should go in wanting to learn the most about the home you are about to purchase e.g. what items need to be looked at immediately and what you’ll need to budget for.

🏡Pre-listing home inspection:

In a world of multiple offers and the flurry of activity we’ve recently seen, it’s impossible to remain competitive with your offer while including an inspection clause. Most responsible homeowners, ones who have great pride of ownership, will elect to hire an inspector before they list and have the report available for any prospective buyer. This is a great gesture, but always remember – as impartial as inspectors are, they will typically favour the person paying them and, in this case, that’s the seller! Regardless, you’ll still have a greater understanding of the health of the home than if there was no inspection at all. 

🏡Conducting your own inspection prior to submitting an offer:

This is something I have done the most as of late. When my buyers want to remain competitive in a multiple offer situation and the seller has not provided a pre-listing inspection, I go in with an inspection ahead of the offer night. By doing this, I ensure my buyers have a better understanding of what they’re buying, all the while remaining competitive on offer night! A total win because I strongly believe in making informed decisions!

Rizwan Malik is a qualified fount of knowledge regarding the Canadian real estate market. Rizwan keeps his finger on the pulse of today’s evolving markets. He breaks down its continuing complexities into easy-to-understand terms for all home buyers.

@rizwanmalik