A recently-married young couple was ready to purchase their first home. After months of viewing properties, they’d settled on an old cottage with great curb appeal. Given that it was their first home, they did not know anything about the due diligence process. They completely trusted their agent who’d been recommended by good friends. The idea of a home inspection wasn’t even on their horizon. They’d never heard of one!
Once their offer had been accepted, their agent sat down with them to explain the importance of the due diligence process. She also explained the importance of a home inspection and gave them a list of several reputable home inspectors. She suggested they speak with one or more of the inspectors and schedule an inspection.Given the age of the cottage, the realtor had some reservations about the condition of the property.
The couple called each of the inspectors and as it turned out, only one of the inspectors was available during their due diligence period. The deal was sealed. They hired that inspector!
The cottage they’d fallen in love with had been built in the 1920’s and was not in top condition. They attended the home inspection along with their realtor. It took the inspector several hours to make his way carefully through the aging but beautiful house. He kept everyone informed throughout the inspection.
At the end of the inspection, the couple and the realtor received a verbal report from the inspector. The inspector assured them that the property was structurally sound and safe. There was evidence of a termite infestation which would need to be addressed. And, besides some updating of the HVAC system, the elderly owners had done a fairly good job of keeping up the property.
After consulting with their realtor, and renegotiating their initial offer to include a credit toward the termite remediation, the first-time buyers felt comfortable moving forward with the purchase of their charming cottage.
The home inspection had provided them with the key information they needed to make an informed decision regarding the largest investment they had ever made.