What Every Home Buyer Should Know About Home Inspection
Sometimes, a lot of things are hidden from a listed home’s surface. That’s why when a home is up for sale, chances are the first thing you’ll notice is a beautiful fresh coat of paint which could be hiding so many things.
So how can you tell if there are any underlying defects in a home?
The easiest way out is to call for an inspection. But just before you do that, here’s what you need to know about home inspection.
5 things you should know about inspection
Inspection isn’t automatically part of your home purchase
One of the best ways to protect yourself as a home buyer is to include an inspection clause in the buying process. So if an unexpected defect is found during inspection, you can back out of the transaction.
What if you still want the property despite the defect?
The inspection clause gives you the chance to renegotiate with the seller in the light of the discovered issues. You can either request for a price cut or ask the seller to make required repairs before completing the sale.
But home inspection clauses aren’t automatic. However, they are highly recommended by buyer’s representative and are often included in all standard real estate deals.
So what exactly is a home inspection?
A home inspection is a detailed assessment of the systems, structure and general “well-being” of a home, carried out by a qualified objective inspector. If there are any defects that may lower the home’s value or require instant or near-term repairs, the home inspector is expected to disclose it instantly.
What the inspection covers will depend on the individual inspector, the type of inspection requested as well as the local municipal codes. However, most home inspection always include visual inspection of these:
- Foundation/framing (including wood rot)
- Electrical systems
- HVAC (heating and cooling) systems
- Roof
- Exteriors (siding, windows, doors, etc.)
- Insulation/ventilation
- Interiors (doors, paint, floorings, ceilings, walls, windows, etc.)
- Fireplaces
- Plumbing systems
Additional inspections may be requested for:
- Septic systems
- The presence of radon, asbestos, lead, mold, or pests
- Dangers from flood, earthquake, landslide, or other natural disasters, based on location
How to choose the right home inspector
If you have a friend or colleague who recently bought a property, you can ask them to recommend a home inspector for you. You can also ask your buyer’s agent to recommend one or you can find one by yourself. Regardless of how you find the inspector, look at the inspector’s qualifications, ascertain if they are bonded and insured and if they meet the prerequisite for being licensed in your state.
You should also ask how long the inspector has been in business and ask for references from previous clients. Ask if the inspector belong to any state, national or international professional home inspector organizations.
Should you be there during the inspection?
The answer is yes! And it’s advisable for you to be there during the inspection. Your buyer’s representative can handle it for you. But you’ll get a first-hand information if you’re present during the inspection. If the inspector finds something unusual, you’ll be able to ask question on the spot and get a direct answer.
Better still, home inspectors can also offer guidance on home’s systems maintenance, which is absolutely important for a buyer, especially a first-time home buyer. So make sure you have a note handy and to possibly share with the seller. With that, you’ll be able to get accurate estimates on the required repairs.
What happens if the house fails the inspection?
An inspection is an assessment not a test. This means houses cant fail inspections, rather the inspection discloses issues or potential issues that may negatively affect buyers before completing a transaction. Inspection is also done to ensure that both the buyer and seller are informed about the condition of the property through a common full disclosure process.
Pro tip: Never buy a property without getting an inspection. You can’t be too careful on anything worth thousands or millions of dollars.