Home inspection is a vital part of the home buying process. A home inspector can provide a buyer with important information about the condition of a home, including whether major repairs are required and what the overall cost will be to keep the home in good shape. This knowledge can help buyers negotiate with sellers or walk away from a deal if necessary, learn more about this topic.
During a home inspection, a professional will examine the structure and systems of a house, from the roof to the foundation. The typical home inspection lasts about two to three hours for single-family homes. Multi-family homes and co-ops may take longer, depending on the size of the dwelling and the features within it.
The inspector will check the structure for problems such as wood rot, insect infestations, water leaks and other general damage. He or she will also look at the heating and cooling systems, electrical outlets, plumbing and more. The inspector will not test for asbestos, lead paint or other health hazards, but he or she will be able to recommend professionals who can.
While the home inspector is examining the house, it’s a good idea for the potential buyer to be present. This will give the buyer a chance to ask questions and get a first-hand look at any issues the inspector uncovers. Seeing problems firsthand will also allow the buyer to decide how serious they are and if they’re worth raising with the seller.
A home inspection should be done before a buyer signs a sales contract. While some buyers choose to have a home inspection after they’ve already made an offer, this can delay the closing process and potentially result in legal complications.
It’s also a good idea to hire a home inspector who is licensed and insured. This will ensure that the home inspector has the training and qualifications to conduct a thorough inspection. In addition, a licensed inspector will be able to answer any questions the buyer might have about the report or inspection findings.
Finally, the buyer should remember that no house is perfect. Even new homes will have issues that need to be addressed. A home inspection can reveal significant repair needs, oversights by the builder or simple maintenance that should have been performed. Having a home inspection contingency in the sales contract will give the buyer flexibility to either request that the seller make the necessary repairs or to cancel the contract if they discover the problems are too severe to handle. The buyer can also use the information from the home inspection to request a lower price on the home, or a credit to be applied toward the cost of making the necessary repairs. If the seller refuses to agree to either of these, the buyer can walk away from the deal with their earnest deposit back.