As important as it is, a home inspection is usually the last thing on a homebuyer’s mind. It shouldn’t be the case, as a little money spent on a home inspection now can save you from potential problems in the future. But the big question is, who pays for home inspection?
We answer this question and explore other aspects related to home inspection and purchase. So, let’s start.
Who Pays For Home Inspection Buyer or Seller?
To answer this question, it is almost always the buyer who pays for the home inspection. And it kind of makes sense, doesn’t it? The seller has a lot of expenses to take care of, including taxes, transfer fees, agent’s commission, and more, so why would they take the responsibility of an inspection?
A seller would not risk a home inspection in any way, lest it may reveal some structural defects that may undermine the property’s value.
However, there are some subtle details that we must explore to have a deeper understanding.
Timing Is Important For Inspection Charges
Generally, a buyer is responsible for hiring and paying a home inspector. However, this is done when an offer is made and before the deal is sealed. Sometimes, a seller may choose to get the house inspected before putting it up for sale. In such a situation, the seller will pay for the inspection charges. The seller can also use the inspection’s findings to remove the issues identified in it.
Get To Know the Inspection Contingency Clause
Before you, as a buyer, seal the deal, you should know about the inspection contingency clause. It simply means that you have the right to walk out of the deal or ask the seller to pay for repairs if the report finds serious issues with the house.
You can also negotiate with the seller about who pays for the inspection charges. We agree that it is usually the buyer, but if you have strong negotiation skills or there are peculiarities attached to the property that give the buyer some edge, you can even ask the seller to pay the inspection charges. How does that sound to you?
What Does The Law Say About Who Pays the Inspection Charges?
There is no legal compulsion to get a home inspection for either the buyer or the seller, so naturally, no state or city law fixes the responsibility of who pays the inspection charges. In most cases, the buyer pays for it, but it may vary under particular circumstances or as agreed upon between the seller and the buyer. Remember, you can throw anything at the seller during negotiations. Everything is up for discussion.
Can We Trust the Inspection Done By The Seller?
It depends, but to be safer, if you are a buyer, you should opt for your independent inspection. A seller’s inspection report could hide certain facts or gloss over different issues. The seller may also have used the report to go for superficial repairs without addressing the root cause of the problem.
How Much Does a Home Inspection Cost?
Now that we have settled who pays the inspection charges, let’s talk about how much the inspection itself costs. The actual cost varies depending on a number of factors. It may include:
- The size of the house
- Its location
- The nature and extent of the inspection
- Any peculiarities about the house
In the US, a typical house inspection should cost between USD300 and USD700. This is an estimated cost only, and the actual figure, as we discussed, can vary. The buyer should keep this range in mind when looking for a house inspection.
Should A Buyer Be Present During A Home Inspection?
If you are a buyer, you should definitely be present during the home inspection. It will do you a lot of good. You will get first-hand information about the details of the house and any issues it might have. You can understand the problems besetting the property you intend to buy and can make a better buying decision.
Who Pays For The Repairs Of The House?
We move one step forward and now discuss who will pay for the repairs required according to the inspection report? Here, we would like to highlight the inspection contingency that we discussed earlier in this blog. That clause will dictate who will pay for the repairs and if the buyer would even like to go ahead with the purchase.
If you are a savvy buyer, you can use the report’s findings to your advantage. You can extract a better (read lower) price from the seller, ask the seller to pay for all or some of the repairs, or get more favorable sale terms (installments, perhaps?) An inspection report is a potent tool in your hands, and you can dictate your terms if you pay your cards well.
Some states require sellers to fix issues that can endanger human lives. These could include anything from smoke detector problems to mold issues, pest infestations, or severe water damage.
Conclusion
When it comes to who pays for a home inspection, the buyer usually pays. Certain situations may dictate otherwise, but as a general rule, it is the buyer’s responsibility to arrange for a house inspection and pay the inspector.
Although it is not mandatory, never downplay the importance of a house inspection. A little money spent now can save you from big troubles later. A house inspection conducted by a professional home inspector will bring to the forefront issues that you cannot detect. A house inspection is therefore strongly recommended before buying the house.
Total House Inspection is a professional home inspection company that helps buyers and sellers. We provide general and specialized home inspections that give you an unbiased view of the property and help you make a better purchase decision.
Get in touch with us and save yourself from unforeseen and costly repairs that may arise because you could not anticipate them. Save your money and sleep soundly in your new home because our home inspection report has you covered.
