MONTREAL Real Estate Investors Group

What an Inspector does
A building inspection is important to know exactly what you are buying in terms of structure and health. You want to know what type of repairs need to be done now and repairs for the future. This way you can accurately budget your costs for the purchase and know what you are getting into. For more information on what inspectors do, please read Introduction to Home Inspections.

Usually an inspector costs a flat rate of $350 and up, depending on the driving distance and size of the structure. They arrive with their ladders, flashlights and tools to accurately assess each part of your future home. If they arrive in a suit and a tape recorder, thank them nicely and tell them that you have changed your mind.

You want your inspector to get “down and dirty”, so to speak, to find out all the details about the place. When you call around for quotes, ask them what do they do exactly, how is the report given to you and what it looks like.

After the inspection is completed, the inspector will usually give you an on the spot report of their findings. Ask them also when to expect the written report. They know that you are on a timeline and are usually quick about it. It shouldn’t take more then two days to receive the report.

In the promise to purchase the agent has written the days that you have agreed upon to get the inspection done. 7-10 days are standard. Then according to the clause, you have an extra 4 days to respond if you have concerns. IF you don’t, after (7-10 days) +4 days, you have automatically accepted this condition and it is waived. If you have found something to discuss, then act fast, the days run short quickly.

Renegotiating after the inspection
Normal wear and tear is usually what to expect when you are buying a house and there is no need for alarm, or even re-negotiation. However finding something that isn’t up to standards or detrimental to the house that has many dollars attached to it, you might want to re-think your position and walk away or re-negotiate

For pre-listing inspections, please visit: Pre-Listing Inpections