Is it smart for buyers to rely on seller's home inspection?

Question: Dear Kari, My husband and I just got our purchase offer accepted by the sellers and we told our agent we are so pleased. Next, the sellers provided us with a current home inspection report on the property. The question that is being asked of us is do we want to work with the seller's home inspection report or do we want to pay for our own inspection report? We would appreciate any advice. Answer: Let's start with the definition of a home inspection: A home inspection is a limited, non-invasive examination of the condition of a home. Home inspections are usually conducted by licensed home inspectors. These professionals will have the proper qualifications and insurance coverage to perform unbiased inspections. Keep in mind in a fast-paced real estate market this practice of the upfront reports is very popular to help speed up the process. This could also be the practice of the listing agent and reflect the way in which they were taught. Buyers and sellers have the right to home inspections on the property. The cost of the inspection can range from $380-$950, depending on the square footage and features of the home. Usually, the cost of the inspection is paid for by the party requesting the inspection. The inspection fee will typically be requested to be paid when the inspector arrives at the property and before the beginning of the inspection. The home inspection report will identify conditions that may be considered defects which may affect the market value or safety of the home. Most reports have several color pictures of many areas of the home. The report will list the components in the home with a description of the condition of the structure and systems. Inspection will include the foundation to the roof and everything in between. It identifies the "material facts or conditions that affect the value, desirability or safety of the dwelling." If repairs are needed, the report describes the fact of the conditions. Typically, a home inspection company will not place a dollar amount on the area in question, and additionally, their company policy will not offer to alter or repair any condition of the property. If the inspector discovers and believes an area or item requires an additional tradesperson or specialist in a particular area, the report will defer to a specific specialist in that particular field. The seller may want to address or minimize some of the defects in the home with the thought in mind of troubleshooting items before discovery by a potential buyer. Sellers are not required to correct said problems; they should be responsively aware of the situations that can affect negotiations with any buyers. Sellers will then gain full knowledge of the property they are marketing. The sellers can choose to schedule necessary repairs before the home goes up for sale. This may help the home to be a more desirable selling product. In addition, the home inspection helps the sellers, buyers and real estate professionals arrive at a fair and desirable selling price and enhances the opportunity for a quicker sale. In the buyer's and seller's eyes, the home inspection may be used as a negotiating tool to obtain a higher sales price of the home in the event of a favorable inspection report or help reduce the sales price in the event of a poor inspection report stating the need of several repairs. It's good to know this usually may only work in a buyer's market. The purchase contract usually offers inspection contingency timeframes which allow the buyer to have inspections of the property. During this timeframe, the buyers and sellers may negotiate some necessary repairs. Again, the seller is not obligated to complete any repairs other than state or county requirements such as smoke detectors, carbon monoxide devices, etc. The buyers may choose to proceed with the purchase without requesting any repairs, request a credit from the seller's proceeds through escrow or ask for a reduction in the purchase price. If the buyers are obtaining a loan, the lender must approve any unresolved defects or outstanding repairs. Alternatively, the buyers may cancel the purchase within their contingency period and have their deposit refunded. As long as the home inspector is not related to the sellers, you could work with the current home inspection stating the factual conditions of the home stated in writing, which benefits all the participating parties. I hope this is helpful.