About a week ago, I was showing property to a first time home buyer in Laurel Maryland. We found a big two car garage home in the Laurel. This property had four bedrooms, two and half baths, living room and family room. In addition the property had an unfinished basement.
The basement looked like it had some water in it at one point, but it was hard to tell. The owner of the property happened to be home. I asked the seller if he ever had water in the basement, he said “No”.
My buyer loved the home and wrote a contract on it that day. As part of the contract we made the sale contingent on a home inspection. I insist all my buyers make all their offers contingent on a home inspection.
The home inspection contingency protects the buyer from purchasing something that could be severly damaged. For sellers, the home inspection allows the buyer to have the last word on the condition of the property. After the purchase, if any problems arise, the first line of defense for the seller is the buyer’s home inspection.
But most importantly, the buyer who has a home inspection can move forward in confidence with their purchase.
Now back to the present situation. We showed up for the home inspection yesterday morning. The home inspector was already at the property. The inspector immediately informed us of problems with the foundation of the property.
The home inspector noticied several large cracks from the outside of the property. Further inspection in the basement revealed a sever problem with the foundation. All four walls were “bowing” inward. Numerous cracks were spotted on the inside. The property was not safe.
The problem would take over $10,000 to fix.
My buyer exercised his right to declare the contract “null and void”. My buyer escaped a dangerous and costly situation.
He never would have discovered the bad investment he was about to make without the home inspection.
Always make any purchase contingent on a home inspection. Always have a licensed home inspector perform the inspection.