Typically, the prospective buyer covers the cost of a property inspection. This evaluation, conducted by a qualified professional, assesses the condition of the home’s structure, systems (such as plumbing, electrical, and HVAC), and components. For example, an inspector might identify a faulty roof, outdated wiring, or signs of water damage. This provides the buyer with crucial information before finalizing the purchase.
Obtaining an independent assessment offers significant advantages. It allows buyers to make informed decisions, potentially renegotiate the purchase price based on discovered issues, or even withdraw from the transaction if major problems are uncovered. Historically, this practice has evolved as consumer protection measures increased, giving buyers more agency in real estate transactions. A thorough evaluation mitigates risk and provides valuable insights that can prevent costly repairs down the line.