Most homes that are sold are sold without any written warranty as to their condition.
Most homes that are sold are sold without any written warranty as to their condition. The home inspection is your opportunity to learn more about the property and to determine if you want to move forward with the purchase in light of what you learn.
If the contract says that the home inspection report is part of the contract, if you back out of the deal based on information from the home inspector, it is possible that you will lose your deposit money. To avoid this, make sure that the contract spells out what will be done with any inspection report for a buyer who wishes not to purchase a particular property.
It’s customary for inspections to be done before a purchase contract becomes binding. This way, if there are any problems revealed by an inspection, a buyer can request repairs or concessions from sellers or just walk away from the deal. Home inspections usually happen after an offer has been accepted and before closing occurs.
You may have heard stories about buyers who ask for silly or trivial things like new windows because they don’t like how old ones look. As long as these requests are reasonable and within reason given what was found during your own home inspection, asking for them won’t hurt your chances at making an offer on a house in most cases!
Most of the time, the home inspection will be for the buyer, not for the seller.
In most cases, it’s the buyer who will be paying for this inspection and receiving the results. The inspector will go through a home, room by room, to identify issues that might impact your decision to buy. If there are concerns about the property—potential problems with the foundation, hazards such as asbestos or lead paint—it’s up to you to decide how to proceed based on these findings. This means you can negotiate with the seller regarding repairs and credits toward closing costs if you still want to go through with purchasing the home after reviewing these results. (It also means that if you do back out of buying because of a negative inspection, you’ll have spent money on an inspection without actually owning a house.)
Find a qualified home inspector.
- For starters, you should check with the Better Business Bureau (BBB).
- Next, you should see what the National Institute of Building Inspectors (NIBI) has to say on the matter.
- Third, it’s worth checking out what the American Society of Home Inspectors (ASHI) has to say about how to find a home inspector in your area.
- Finally, be sure to check out what the National Association of Home Inspectors (NAHI) has to say about this process as well.
An overwhelming majority of home buyers request a home inspection as part of their purchase contract.
As a home buyer, it’s important for you to understand just how crucial a home inspection is in the process of purchasing a house. It’s extremely rare for buyers to purchase a house without getting one. In fact, nearly 9 out of 10 buyers request a home inspection as part of their purchase contract. It’s also important to note that this high percentage appears only in the United States—many other countries consider home inspections an unusual practice and often leave them out entirely (which would make sense, given that they do not have nearly as many lawyers).
Home inspections provide valuable insight into any potential problems with the construction of your new house. Although some people may assume that since new homes are built by professionals and are highly regulated by building codes and design standards, they wouldn’t require an inspection, this isn’t necessarily true! While these factors contribute to overall quality, they don’t guarantee it; hiring an inspector can help you be absolutely sure that your home will be safe and comfortable after you move in.
In short: when buying a new or old home, getting an inspection is always worthwhile!
Some states require that certain types of repairs be made prior to closing.
A home inspector will examine the condition of major systems and components of a house, then provide you with a report outlining the findings. Because laws vary by state, it’s important to understand the rules around home inspections in your area. Some states require that certain types of repairs be made before closing. These include gas leaks, structural issues, water damage and mold, heating and cooling problems, electrical and plumbing issues, pest infestations like termites or rodents, or broken windows. However, some states do not require that any repairs be made before closing. In these states it’s still perfectly acceptable to ask for something to be fixed prior to buying the property—or you can choose to buy it as-is and make your own changes later on down the road.
Some states also give buyers the right to a final walk-through prior to closing (this is recommended), while others don’t require this step at all!
The contract should give you ample time to conduct an inspection.
Your real estate agent will be able to negotiate a contingency in your purchase contract for you to have an inspection done by a professional home inspector. A well-worded contingency will protect your interests and give you the time you need to:
- Conduct a thorough home inspection that covers all of the major systems of the house, including electrical, plumbing, HVAC, roofing and structural components.
- Review the written report issued by the home inspector and determine if there are any issues that should be addressed by the seller before closing.
- Request that repairs be made or ask for money in lieu of repairs before closing.
- Renegotiate your purchase offer based on findings from a home inspection that reveal major problems with the house or property.
- Walk away from the sale without penalty if negotiations regarding repairs break down completely.
A professional home inspector will prepare a formal report after his or her inspection with details about the home’s condition and any problems that were spotted.
A professional home inspector will prepare a formal report after his or her inspection with details about the home’s condition and any problems that were spotted. The report should include:
- A description of the problem
- Recommendations for repair
- An estimate of the cost to fix it
The report should also contain a summary of major findings and recommendations. In addition, it should be written in plain English, not in technical jargon. Finally, the report should include a list of items that were not inspected.
The seller is not obligated to make repairs based on the results of a home inspection
Beware also that the seller is not obligated to make repairs based on the results of a home inspection, unless they are required by the contract. Though some sellers may agree to make repairs in order to help sell their home, you need to be clear about which repairs will actually be made before agreeing on the sale. The best way to do this is for your agent and the seller’s agent to come up with a list of agreed-upon repair items and then attach this list as an addendum in your purchase agreement. Make sure that any repairs done by the seller are performed after you have moved into your new home so you can verify that everything was completed properly.
your home inspection report will help you make informed decisions about what issues you want to address in negotiations and others that you can leave alone
- Your home inspector’s report will not be a detailed account of all the minor imperfections and quirks within your soon-to-be house. A home inspection report is meant to focus on the major issues only. They are not going to list every cracked tile or where the paint is chipping from your walls. Home inspectors know that buyers expect homes to be in less than perfect condition and don’t usually want a list of everything that needs to be fixed.
- The home inspector’s report will not list the cost of repairing any defects they find or how much it would cost to correct any safety hazards they find in their inspection. Keep in mind, you’re paying an inspector for their time and expertise, but you’re still hiring someone who isn’t an expert contractor or electrician. These people would have the expertise you’d need to evaluate whether these issues need repairs, replacements, or adjustments, as well as provide estimates on how much those repair jobs will end up costing you so you can factor that into your negotiations with the seller.
- The home inspector’s report will also not tell you if there are any issues with having insurance coverage on this house (unless it involves safety hazards). If some issue is brought up during negotiations about repairs and finding out whether there is adequate insurance coverage for this property turns out to be one of them, then make sure you talk with both your real estate agent and an insurance agent about getting more information from them about what this means before making a final decision about moving forward with buying this house.