5 reasons to get a home appraisal before purchasing

5 reasons to get a home appraisal before purchasing

It’s not clever to fall into the excitement of buying a property without getting a home appraisal. It is an important decision and requires that you let a credible appraiser conduct a home inspection before making your final decision. As soon as you get into contract home appraisal is required to save your money and time in the home buying process. Following five reasons are important to consider before you buy a new home: 

Home Structural, Wiring or Plumbing Issues

You must not judge a property by its façade. Even if you are buying a newly constructed house, it is important to conduct a home inspection to understand issues that might not be visible. You must not feel that a home inspection is a waste of money as an average buyer is not aware of the hidden costly troubles that might be exposed later. Such as structural issues in the property are unknown to most buyers but an inspection will reveal them to you. Obviously, you can do a preliminary inspection yourself as you can check the exterior while you walk around the house but a professional appraiser will reveal all the underlying problems of structure, wiring, and plumbing.

Spending Money Inspection

A home inspection is not cheap but you will realize that it is much cheaper than rewiring your house. If there are structural issues then it is almost unchangeable without proper renovation and reconstruction. So home appraisal is a safe investment to make a secure decision. 

Pay Lesser With Negotiation

If there are flaws in the property you can negotiate with the buyer for a lower price. You can save this money for renovation and improvements in the property. Without a home inspection, you might be purchasing the home for a higher price than its actual market value, which is definitely a loss at your end. By understanding the weak points of the property you have the bargaining power to talk with the data and with the help of sufficient information prove your point. If reliable data is made available to you from an appraiser the seller will not be able to raise extra money for the property. 

Ask Seller to repair

The home inspection enables you to negotiate with the buyers along with the demand to make repairs before exchanging money. You can also ask them to cut down the estimated cost of repair if the seller is not willing to repair the property. With reliable information via appraisal and home inspection, you have the bargaining power as you have the facts and figures about the condition and quality of the property. Seller concessions do not include seller’s repair, but it depends on your seller’s contract.


Know What You Buy

Doing your own research before buying a property is an important part of the buying process and home inspection makes it easier for you. The more you know about the property you are buying, its neighborhood, roads leading to it, etc., the more aware you will be. Thus, it will be easy for you to make the decision whether to invest or not on the property within your current budget. 

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