The pre-purchase inspection takes place after you have submitted a purchase offer and it was accepted by the sellers. But it is better to wait until the inspection report before formalizing the purchase. In fact, as soon as you make a request for a pre-approved mortgage, try to find two or three inspectors to contact when the time came. The deadline for the inspection and to declare your satisfaction with your results is usually indicated in the offer to purchase.
If there is a delay of several months between the pre-purchase inspection and the date of the transfer of property, you can add a clause requiring a second inspection a few days before the transfer of property. You would do this to ensure that there are no major changes in the condition of the home ; if there is, you will be able to cancel the transaction.
What is a pre-purchase inspection of a house?
A pre-purchase inspection of a me ison is a review of the status of a house and what is visible for a building inspector, both inside and outside of the house. It is not mandatory to obtain a mortgage loan, but this can help you avoid headaches expensive.
The inspections are recommended in all of the canadian provinces, regardless of the type of property. Whether you are buying a home in 5 years or 50 years, a residence in the center of the city or a cottage in the countryside, or even a condo or a single-family home, it is always a good idea to do a pre-purchase control. For new construction, we would still recommend doing a pre-purchase inspection even if they are covered by a warranty new house (called the warranty for the new residential buildings in Quebec).
What is included in an inspection, and in the report?
The inspector will visually the areas accessible to the inside and outside of the property : the walls, the ceilings, the floor, the structure, the foundation, roof, etc., The common areas can also be inspected in the case of condominiums.
The inspection report must contain :
- Detailed Observations on the state of the property.
- Details on the possible defects, needed work, water infiltration potential, appearance of mold, aroma, etc
- Many photos of the premises.
How to choose an inspector ?
It is best to do business with a certified inspector member of an association or of a professional order, because her work includes liability insurance in the event of professional misconduct, which protects the buyer in some respects. For example, the Quebec Association of building inspectors du Québec (QABI)
We recommend that you choose an expert based in the area or the neighborhood where you are considering buying your home, because he is more likely to know the characteristics of this area.
What are the benefits of doing a pre-purchase inspection of the home?
A good understanding of what you are about to buy is
Buying a property is a major investment; an inspection allows you to make an informed. This is an important step in your life that requires deep reflection. You are on the verge of making one of the biggest purchases of your life, would you closed your eyes ? The main advantage of doing a pre-purchase inspection is that it allows you to gain more knowledge on the house and helps you avoid any nasty surprises in the future. It is a period that is moving, especially for first-time buyers, therefore it is crucial to know all the facts to ensure that you are not blinded by the aesthetics of the house.
Limit the risks associated with latent defects
An inspector is more likely to see potential problems, but he inspects the accessible areas, therefore, it can nevertheless be hidden defects despite its rigour and competence. Hiring a certified inspector protects the buyer of certain types of misconduct. For example, if the inspector fails to examine the attic so that it was accessible, and the buyer subsequently discovers that it is contaminated, the buyer may contest the inspection report and continue to the inspector, who missed a vice visible and accessible.
Determine if the house will need to work and negotiate the price
If, for example, the roof needs to be redone in the short term and that this is not mentioned in the declaration of the seller, this could affect the willingness of the buyer to make, or to help him negotiate a new price. Jobs can either be completed by the seller prior to any transfer of property, or the buyer can negotiate a lower price if he performs the work.
Cancellation of the transaction in case of failure
In addition, if you add a clause of conditional sale to the pre-purchase inspection and approval for funding, this allows you to cancel the purchase if the inspection is not positive.
When should you do the pre-purchase inspection of the home?
The pre-purchase inspection takes place after you have submitted a purchase offer and it was accepted by the sellers. But it is better to wait until the inspection report before formalizing the purchase. In fact, as soon as you make a request for a pre-approved mortgage, try to find two or three inspectors to contact when the time came. The deadline for the inspection and to declare your satisfaction with your results is usually indicated in the offer to purchase.
If there is a delay of several months between the pre-purchase inspection and the date of the transfer of property, you can add a clause requiring a second inspection a few days before the transfer of property. You would do this to ensure that there are no major changes in the condition of the home ; if there is, you will be able to cancel the transaction.
How does a pre-purchase inspection of a house?
On the day of inspection, we highly recommend that you be present, you and your real estate broker. This way, you can follow the inspector while he is examining visually the inside and the outside of the property. The idea is not to guess at every stage of their work, but to watch what they do in order to better understand what you will read later in their report.
Once the inspection is completed, the inspector will take some time to write a report of a home inspection, and issue his first comments. You will receive the report a few days after the inspection, within the agreed time.
What to do if you notice any hidden defects ?
A hidden defect is a hidden problem that a regular inspection would not discover, that the buyer was not aware of and which existed at the time of purchase.
A pre-purchase inspection does not protect you completely against hidden defects, but if you do, you must inform the seller in writing. They are responsible for it even if they were not aware of the defect at the time of the sale. Depending on the situation, the legal guarantee of ownership and quality may entitle you to a cash allowance or rescission of the sale.
In summary, a home inspection prior to purchase is an important exam that will help you avoid headaches in the future and give you a more complete picture of the home you consider buying.
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