Property inspections can be annoying for a number of reasons, but they are typically considered an essential step for purchasing real estate. Yet it can be tempting to try to get around the requirement for a property inspection, if only to save on time and money. So why is it that you should make sure to get a property inspected before you decide to buy it, and what happens if you don’t?
What is a Property Inspection?
A property inspection is more or less what it sounds like: a licensed inspector is hired to look over the property for potential issues that may require repairs or renovations to make it safe and comfortable to inhabit. This goes beyond a simple visual inspection, looking for potential issues that may not be apparent to the untrained eye. Once the inspector finds these issues, it becomes the responsibility of the buyer and seller to figure out how to address them.
What Might a Property Inspection Find?
A property inspection can potentially find any number of problems that may need to be fixed. These include, but are not limited to:
- Building code violations, such as from unlicensed or DIY renovations
- Infestations of rodents or insects, such as mice, termites or bed bugs
- Structural damage from fire, water, or mold
- Potential leaks or drainage problems
- Electrical problems, such as inadequate grounding or cable splicing
- Problems with insulation or roofing
- Trouble with HVAC or airflow within the home
What Happens if You Do Not Get a Property Inspected?
If you fail to get a property inspected before you buy it, you open yourself to finding these kinds of identifiable issues after you have already agreed to purchase the property. If you discover the problems beforehand, you can try to have them fixed, or at least seek a discount on the purchase price to compensate for the cost to repair them. If you only find them after the contract is signed, however, you will bear the cost of handling that yourself.
What Should You Do?
If you are facing issues when it comes to having a property inspected, you should make sure to speak to a lawyer with experience handling real estate issues. They can handle all aspects of negotiating your real estate deal, and ensure you are protected against potential problems that may arise. The sooner you call, the sooner they can get to work for you.
At David J. Lorber & Associates, PLLC, we assist clients throughout New York who are looking to buy or sell real estate. We will guide you through the process and help you minimize your legal and financial risks. Call us at (631) 750-0900 or contact us online to schedule your Free consultation at our Setauket office.
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