The Importance of Home Inspection
If you’re buying or selling a home, get the facts about the homes condition from a professional home inspector before you buy.
What is the inspector looking for?
A home inspector examines the home and gives a neutral and objective visual examination of the structure and major systems in the home. It can save the buyer from buying the home with existing problems that can only cause more problems later. If you think the identified problems is more than you want to deal with you can request fixes or don't buy the home.
The three main points of the inspection are to evaluate the physical condition of the home, identify items in need of repair or replacement, and estimate the remaining useful life of the major systems, equipment, structure and finishes.
Hiring an Inspector
To hire an inspector, get recommendations from your Realtor, or from friends and family. When interviewing inspectors, be sure to ask for references and memberships in professional associations. Find out about the inspector’s professional training and experience. Don't just use a family friend or a handyman with no training in home inspections.
It’s a good idea to be present during the inspection for a few reasons: you can ask the inspector questions during the inspection, the inspector will have the opportunity to point out areas of potential trouble, and many inspectors also will offer maintenance tips as the inspection progresses.
A Negotiating tool
Having the inspection report can help in negotiating any repairs with the seller or offer a lower or higher price for the home. A high price could mean the seller will do the repairs before closing. Keep in mind, if you get a lower price and plan to do the repairs later, do the repairs later.
Costs and Time Involved
Your inspection could take 2 - 4 hours to complete depending on the size and age of the home. Don't rush the inspector. It's important he does a through and accurate job.
The cost of the inspection is paid for by the buyer while the buyer is in the inspection due diligence period. If you find the house needs more work than you are willing to do and the seller refuses to do it you can cancel the contract. The inspection cost is not refundable. It may be one of the most important investments you make when buying a home.