Should All Real Estate be Inspected?
Absolutely. While most lenders require a home inspection, it only makes sense to have an expert go over any property you purchase.
Think about it: Would you buy a used car without checking under the hood, looking underneath for rust, or getting behind the wheel for a test drive? Of course not. When real estate is sold "as is" or as a "fixer-upper," it is clearly in your best interest to have it inspected so you can determine whether the property's needs are greater than its worth – or if they’re simply more than you care to deal with.
Older properties need close inspection simply because of the ravages of time. But even new homes may harbor hidden structural or mechanical defects that could turn your new purchase into a nightmare.
Generally, buyers assume the cost when they request an inspection. Often the only problems uncovered are minor cosmetic flaws or defects that are easily repaired or corrected. In the event major defects are discovered, a professional home inspection could save thousands of dollars and provide documentation for property price reductions or other concessions.