THE HOME INSPECTION Whether it’s an existing home, newly constructed home or investment property, it’s a good idea to have a professional home inspection performed.
Once you’re in contract to purchase a home, you’ll want to be sure and follow all of the contingency deadlines. One of those contingencies probably involves inspections.
A home inspection will arm you with critical information about the property. The sooner you have that knowledge the better.
The cost varies, but is generally $200-$300. This cost is very minimal compared to the cost of major repairs, electrical, potential structural issues or other damage that you may not have known about without an inspection. Having an inspection performed will go a long way to protect you and your investment.
Hiring an Inspector
When selecting a home inspector make sure they are Licensed or Certified and choose your own inspector.
Some homeowners might provide you with name of an inspector or offer to have the inspection done for you. Not a good idea! You want your own unbiased inspector that you hire, to do the inspection. Your REALTOR can provide several names of reputable licensed home inspectors.
Your own licensed home inspector will provide you with the facts and it’s a great way to learn about the property you’re buying.
Types of Inspections
Home, Termite/Pest, and Gas Line Inspections are the mostcommon types of inspections. However, there are other types of inspections which may be necessary or desired depending on the initial findings of your home inspector.
Although not inclusive, some additional inspections might include: radon, roof certification, well and septic, lead paint, asbestos, structural, mold, water testing or something else.
What Will They Inspect
Your home inspector will conduct a thorough walkthrough of the property and inspect all elements and systems in the home: plumbing, electrical, HVAC, roof and attic, foundation, appliances, windows and doors, basement, insulation, wiring, major mechanicals and other items inside the home, as well as items outside like sheds, garages, etc.
The inspector will provide a written report with their findings. Some items may be major and others minor. The inspection is NOT designed to pick the home apart with minor details. Its intent is to educate you about the home and any major flaws that may be present, so appropriate repairs can be made. It can help you avoid costly and potentially hazardous conditions before finalizing the sale of your home.
Inspection Timing and Results
Having inspections performed on the property within the timeframe specified in the contract is crucial.
Once completed you have a written report of the inspectors’ findings, are within your timeframe stated in the purchase contract, you can request the homeowner to make the necessary repairs prior to finalizing the sale, or you can request a credit.
You might decide the home needs too much work and money. The seller might refuse to do anything. Or, the seller may be willing to make repairs or offer you a credit.
Get Educated About Your Home
Oftentimes, newly constructed homes have warranties in place and therefore the builder feels additional inspections aren’t necessary. As long as there is a contingency in your purchase contract for them, you have every right to have inspections performed.
You should never solely rely on what a homeowner or builder discloses about their property. There are times when homeowners and builders themselves are not aware of issues with the property. This is an important reason to have your own inspections performed.
Becoming educated about the home you plan to buy is important. The home inspector is a great source of information and can educate you on various aspects of the property.
Attend Your Home Inspection!