Why you should consider a professional home inspection

Real estate purchases are often one of the most expensive transactions someone will make throughout the duration of their life. Due to this fact, it is not always an easy process and can be intimidating for those who are purchasing a home.

One of the most important things you can do to protect yourself financially is to have a professional home inspection completed on the property.

You should consider a professional home inspection whether you are buying, selling, or remortgaging your home. All of these transactions rely on the market and the condition of your home, something that is not always what it appears to the untrained eye.

Here are some of the reasons why a professional home inspection may be the best decision you make.

Protecting Your Real Estate Purchase

If you are ready to purchase a home, it is likely that you have been saving for many years and have worked hard to get your finances in order. That’s why it is extremely important to make sure you get the most for your hard-earned money and have a professional home inspection completed before you sign the papers.

Lower Your Risk For Unexpected Repairs and Surprises

A home inspection will uncover some of the unexpected issues and necessary repairs that you may need to make either now or further down the road. This will also increase buyer confidence if you are selling your home, as potential buyers are more likely to be willing to make the purchase if they know that they won’t be sinking a significant amount of money into those unexpected repairs.

A More Accurate Value For Your Home

If you are planning on selling or remortgaging your home it is important to have an accurate valuation of what you will realistically be able to get. Many mortgage companies might even ask you to provide details of this inspection to take into consideration. The inspection could reveal damages that bring down the total value of your property, which could disrupt your plans, or it could indicate a higher value if your assets are in good condition. From a buyers perspective, an inspection report can provide leverage in your price negotiation.

Hire a Real Estate Lawyer to Make a Confident Decision

When you are buying or selling a home, the real estate lawyers at LCW will help make sure you are protected throughout the transaction. They are highly experienced and provide the guidance required to protect you from costly mistakes. Do not take a chance on your future, and make sure that this major transaction is in the best hands possible.

How to mitigate risk when buying a home

Buying a home is a stressful and risky process, this feeling is heightened for first-time home buyers. Purchasing a home is a highly contracted process; risks lie in fees that you aren’t legally required to pay and a potential misunderstanding of your legal rights or obligations.

The best way to mitigate risk when buying a home is to hire a real estate lawyer. Your lawyers legal advisement will ensure your best interests are taken care of.  

Hire a lawyer to mitigate financial implications in your contracts

When you purchase a house or condo in a new development, many incentives may be offered to you. Often, these incentives aren’t as beneficial to you as advertised. This also applies to potential hidden fees, associated with new build homes, including installation costs and warranties. Before you sign a contract to purchase a new build home, ensure that your Niagara real estate lawyer reviews the agreement of purchase and sale in order to identify any hidden fees or extra costs associated with the build of the home. Your lawyer will ensure that the price you agreed to pay, is the price you pay.

Hire a lawyer for purchasing flexibility

A lawyer can provide you with flexibility and leverage when you make your offer. Many buyers benefit from advisement on their purchase offer for instance, your lawyer can ensure that the offer is conditional based on your financing. This gives you the ability to opt out of the deal if you do not get the financing that you want and then wish to withdraw your offer.

Hire a lawyer to review your Agreement of Purchase and Sale

Your real estate lawyer will also be responsible for reading over your Agreement of Purchase and sale for your home to ensure that it meets your needs and your wants. They will also ensure that you as the buyer fully understand your legal rights and obligations before you agree to them.

Post-Acceptance Administrative Tasks

Once you’ve made an offer and your offer has been accepted, real estate lawyers will then perform some administrative tasks for you. Firstly, they’ll make sure that the registered owner of the property is the one completing the sale. Then, they will ensure that the taxes and bills for the home have been paid up, so that you are not responsible for those payments. Then they will transfer the billing information with utility companies. They will also ensure the property complies with city zoning requirements and will do a survey of the property to ensure that the home is accurately described in the Agreement of Purchase and Sale.

Purchasing a home is one of the largest transactions a Canadian will make in their lifetime. Ensure you do it right and mitigate the risks involved in buying a home by contacting a St. Catharines real estate lawyer today. Click below to learn more about our Real Estate law practice.