A professional property inspection is one of the conditions that may be included in a Contract of Purchase and Sale.
When appropriate, an offer can provide the buyer with a period in which to complete their agreed-upon due diligence, which may include arranging a property inspection. BCFSA specifically identifies a satisfactory professional building inspection as one of the possible subject clauses a buyer may seek to include in an offer.
Buyers sometimes consider making an offer without an inspection condition to make their offer more competitive.
That decision comes with risk.
Without an inspection, buyers may not become aware of deficiencies until after taking possession. In competitive situations, alternatives may sometimes be available, such as requesting permission to conduct an inspection before offers are submitted.
The appropriate strategy depends on the property, market conditions and your individual tolerance for risk.
One of the biggest misconceptions about home inspections is that a favourable inspection report means there is nothing wrong with the home.
It doesn't.
Consumer Protection BC describes a home inspection as a visual inspection and specifically notes that inspectors can help reduce risk, not eliminate it.
- A Home Inspection Is Generally Non-Invasive
- An inspector generally cannot see behind drywall, underneath finished flooring or inside other inaccessible components without invasive investigation.
- A home can therefore have an issue that simply wasn't visible or reasonably accessible on inspection day.
- An Inspection Is a Snapshot in Time
- The inspector is assessing the observable condition of the property on a particular day.
- An appliance working during an inspection could fail later. A roof may not leak during dry weather. An intermittent plumbing issue may not occur during the inspection.
The report should be viewed as information about the property's observed condition, not a warranty about its future condition.
An inspector may identify a concern and recommend further investigation by another qualified professional.
Depending on the issue, additional investigation could involve an electrician, plumber, structural engineer, roofing contractor, HVAC professional, environmental specialist or another appropriately qualified professional.
Consumer Protection BC notes that standard home inspectors are not necessarily assessing specialized environmental hazards such as asbestos or mould, and buyers should establish exactly what is included before hiring an inspector.
Before the inspection, review the inspection agreement carefully.
In BC, the inspection contract must identify what will be inspected and whether mould or asbestos inspection is included. The resulting report must also identify areas that weren't covered.
