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August
15

Hiring a Home Inspector - Buy a Home - Morley

Whether you prefer Nassau homes for sale or Paradise Island homes for sale, buying a new home in The Bahamas is one of the best decisions you can make. When you select the right home with backing from the best Bahamas real estate agents, you will change your lifestyle for the better. It's your own slice of paradise!

Our agents are experienced and can help navigate you through the nuances of buying island real estate. The idea of buying real estate in another country may appear intimidating, but rest assured, there are many similarities. If any differences do arise, an experienced local real estate agent can help you navigate them.

One very familiar issue is the decision to get a home inspection.

Do You Need a Home Inspection in The Bahamas?

Home inspections are virtually universal and allow the buyer a chance to get an inspection undertaken at the buyer's expense. Listing a property "as-is" does not negate a need for inspecting a home. Typically the buyer's offer to purchase the home is contingent on a home inspection and such contingency is typically included in the Agreement For Sale.

There is nothing in Bahamas law that requires a buyer to get a home inspection undertaken, but as the buyer, it is your right and prerogative to do so and will be the best investment you make before purchasing.

Bahamas real estate can soar into millions of dollars, so this small investment is well worth it.

Choosing the Right Home Inspector in The Bahamas

When choosing an inspector, it is valuable to select one with at least 10 years of experience, at least three consecutive years of work in The Bahamas, and professional certifications you trust. 

Why Get a Home Inspection in The Bahamas?

Let's consider some of the reasons why a home inspection matters:

    1. Avoid Major Repairs
      First and foremost, the purpose of a home inspection is to help the prospective buyer avoid nasty surprises. Some key areas in any inspection are the structure, electrical system, roof, and plumbing system. Any problems identified can be pricey to repair, so an inspection helps you gain important insight on the condition of the property you are considering purchasing.

    2. Decide Between Properties
      The Bahamas real estate market moves at its own pace and so you'll likely have several options for potential homes. An inspection can help you understand the financial commitment required to make any given property into your dream home.

    3. Assisting with Financing Approval
      Many buyers enter The Bahamas real estate market with significant cash available but still usually partly finance a purchase. Most local banks may request sight of the inspection report as part of their approval process for financing.

    4. Add Negotiating Power
      An inspector's report equips you with negotiating power to possibly get limited repairs undertaken by the seller. Sellers are sometimes willing to offer concessions if warranted by the inspection report, rather than the risk of possible buyers walking away from a sale. This will save you money in the long run.

    5. Competitive Insurance Costs
      Homeowners insurance is an important part of owning property in The Bahamas. Catastrophic coverage can be costly because of the risk of wind and rain damage during storm season. The better your home's condition and the better the home inspection report increases your opportunity to secure competitive insurance quotations. 

Contact us to find out more today. We look forward to helping you.

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