Who Pays For The Home Inspection in Illinois?

May 1, 2020

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who pays for the home inspection?

First time homebuyers often ask, “Who pays for the home inspection?” That’s a very good question; one which is often asked as a contract is being drawn up. The short answer is: “It depends.”

For both the buyer and the seller, the home inspection is a critical component of the real estate sales process. A licensed inspector is called upon to carefully inspect the structure and the property, very likely after the seller has carefully gone through the home on their own to be sure it’s likely to pass the true inspection.

Generally, the buyer is the party that pays for the home inspection. They will locate a professional, reputable inspection company and hire them to do the job. Many times the buyer prefers to do this because they have control over finding someone that is independent of the seller and has no vested interest in the outcome of the inspection.

When Should a Seller Pay For The Home Inspection?

doorways with house attached.

It’s not uncommon for the seller to pay for the home inspection. If the seller is on top of things, they would have a pre-listing inspection completed. In this case the seller would pay for the inspection even before there is a buyer. Also, some buyers will negotiate with the sellers for the home inspection to be part of the closing costs that the seller is responsible for. This is sometimes done purely as a negotiating tactic to save money, but oftentimes it’s done by buyers that are hard-pressed to put together enough money for a down payment, let alone pay for inspection costs.

A motivated seller should seriously consider paying the cost of the inspection if the buyer is requesting it as part of the offer. Comparably speaking, the cost of the home inspection is a very small percentage of the sales price of the home, and it can be seen as a sign of good faith during the negotiating process if the seller acquiesces and picks up the cost of the inspection.

On the other hand, buyers may very well want to pay the inspection cost if they are attempting to get other concessions from the buyer, such as appliances included with the home or an earlier move-in date. The inspection fee not only is a great value for the buyer, it’s a very small percentage of their total costs to purchase a home.

Inspections Are Valuable

home doormat for who pays for the home inspection

No matter who pays for the home inspection, it’s a necessary and valuable part of the home selling/buying process. Both parties need to know of any of the shortcomings of the home before the closing is finalized. Potential lawsuits are avoided, and the buyer has peace of mind knowing that there are not going to be any surprises after they’ve moved into their new home.

Lucent Property Inspections is a Eureka home inspection company you can count on to do a thorough, professional inspection. Our licensed inspectors will take the time necessary to inspect the home from top to bottom, as well as the outside of the home and the property itself. Call us today at (309) 300-0007 to schedule your inspection today.