When buying a house, one preliminary activity should be present to the satisfaction of the buyer. The home inspection helps the buyer, the owner, and the real estate broker to settle the current state of the house. This is a vital step in the sales process and helped spawn the home inspection industry.
The industry is worth more than $3 billion; individuals who know what to look for mainly do the work.
Old Buildings and Houses
Housing statistics are an economic indicator for the country. However, during an economic slowdown, the market for old houses booms because this is where the value goes. Also, old dwellings stand on valuable property near places of interest, or in areas where people naturally congregate.
These include business districts, markets, churches, parks, and schools. When buying a house, people employ home inspectors to assess the status of the place. These are the people who go through crawlspaces, as well as check the nook and crannies of basements and attics.
For the homeowner, the inspection allows them the chance to see what needs repair. Whether the sale goes through or not, the list of repairs remains. The homeowner has to be present during inspection to answer any questions and to field queries of his own.
For the buyer, there is the assurance that the house is as advertised, and that there is no need for repairs, or if there were any repairs required, that this is credited to the price. Any additional cost becomes part of the negotiated price.
For the real estate broker, the home inspection is a way to create credibility. He should have done due diligence in researching the house, or in doing his own independent inspection before the pricing.
The home inspection industry is big and will get bigger with every new regulation and legislation concerning houses, old homes, and buildings. Their job can get dirty at times, and it requires persons who are technical, know houses, and very thorough.
Whatever knowledge they do not have, they can study and undergo training. They are part of the system, and people depend on them.