When purchasing a resale landed property, especially one as old as the inter-terrace you're considering, a thorough home inspection is indeed crucial. Here's a step-by-step guide on when and how to incorporate a home inspection into your buying process:
1. **Initial Offer Stage**: When you make your initial offer on the property, it's common to include a clause stating that the offer is contingent upon a satisfactory home inspection. This means that your offer is not binding until the inspection has been completed to your satisfaction.
2. **Negotiation Phase**: If the seller accepts your offer with the inspection contingency, you'll have a window of time specified in the contract to conduct the inspection. During this phase, you can negotiate the terms of the sale based on the inspection findings. If the inspection reveals significant issues such as water seepage or electrical problems, you can either withdraw your offer or negotiate a lower price to compensate for the cost of repairs.
3. **Scheduling the Inspection**: Once your offer is accepted, it's time to schedule the home inspection. Hire a reputable home inspector with experience in older properties, especially inter-terraces. They'll thoroughly assess the condition of the house, including its structure, plumbing, electrical systems, and any potential signs of water damage or other issues.
4. **Reviewing the Inspection Report**: After the inspection is completed, review the inspector's report carefully. Pay close attention to any major issues or safety concerns highlighted in the report. If there are significant problems, discuss them with your real estate agent and decide on the appropriate course of action.
5. **Decision Time**: Based on the inspection report and any negotiations with the seller, you'll need to make a decision whether to proceed with the purchase, renegotiate the terms, or withdraw your offer altogether.
Remember, while a home inspection can uncover potential issues, it's not a guarantee that every problem will be discovered. However, it provides valuable insight into the condition of the property and helps you make an informed decision about whether it's the right investment for you.
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