The importance of home inspections
The last thing you want when purchasing a home is a surprise repair after closing. But aren’t sellers required to tell buyers about outstanding issues of which they have knowledge? Not exactly.
Massachusetts law requires that sellers disclose only two issues: the presence of lead paint in the home and if the home has a septic system. Otherwise, Massachusetts is a “caveat emptor” or “buyer beware” state. The good news is that most purchase and sale agreements include contingencies for structural and termite inspections so that the buyer is not flying blind.
The structural inspection contingency allows a homebuyer, or ideally a licensed home inspector, to conduct a thorough inspection of the house and flag any current issues or ones that may come up shortly after closing. Common finds are improper kitchen or bathroom electrical wiring, leaky roofs or ones nearing the end of their usable life, and rotten door or window frames. Based on the inspection findings, buyers can request repairs or an adjustment to the sales price. And, of course, if the buyer is not happy with the inspection, the contingency allows for termination of the deal and deposits to be returned.
Even if a seller has indicated that repairs will not be forthcoming, you should still seek an inspection to avoid surprises down the line and give yourself the option to walk away, if necessary.
Termite inspections can typically be added on to the structural inspection for a reasonable fee. A termite inspector can find evidence of wood-destroying insects or past damage, and a buyer will want both addressed. A typical purchase and sales agreement will require the seller to pay the first $1,000.00 of any treatment or repair.
Experienced attorneys like Levine Law will often add addenda to the purchase and sales agreement asking sellers to make additional disclosures, such as the presence of underground fuel storage tanks or the presence of chlordane, a harsh chemical. You’ll want us on your side during the entire home purchase process. Give us a call at (413) 525-5757 if you are thinking of purchasing a home.