As the Toronto Real Estate Market continues to strengthen and the warm weather rolls in, there are no signs of the current seller’s market cooling down. In many cases, this series of bidding wars, higher selling prices, and limited time windows can cause some buyers to undertake an “any means necessary” purchasing mentality. However, when it comes to home inspection clauses – is it truly worth forgoing piece of mind for a competitive offer?
A home inspection allows for the buyer to obtain a professional document of the conditions of the major aspect of the home such as the major systems, foundation, and roof. By forgoing this condition, you the buyer are accepting that any necessary repairs which the home requires are at your discretion and responsibility. Keep in mind, a seller is not required to disclose any defect that would normally be revealed by a home inspection.
So the question becomes, how can you ensure you have a competitive offer, while still securing your safety in the home’s condition? Perhaps your lucky, and the sellers have provided a pre-listing inspection. If not, consider bringing an inspector along on your primary showing of the property. Even without a formal inspection, having a keen set of eyes with knowledge of possible defects could save you money in the long run.
Have you sold your home, and now can use an advance on your equity before closing day, perhaps for inspection costs and your new home deposit? Tembo Financial can help! Tembo offers unique services to homeowners in Ontario and the GTA. You could receive your money in as little as 48 hours with no credit check and no appraisal*. for expenses that matter to you. Don’t wait, start today!
*Subject to qualification.