Home inspection is an important step in a real estate transaction. It is the buyer’s chance to learn as much as they can about the property and what they are buying. Home inspectors should be qualified professionals with experience in the building and construction fields. They must also adhere to the standards of practice and code of ethics published by ASHI (American Society of Home Inspectors). For more information about home inspection standards and qualifications, visit this page.
Homebuyers can get a lot of information from the home inspection report, including the condition of the roof, attic and visible insulation; interior plumbing and electrical systems; the furnace, air conditioning and water heater; and the foundation, basement and structural components. Home inspectors can also identify potential problems, such as wood rot and insect infestation.
A home inspector will check the structure for damage, such as cracks or rot; a sagging roof or unsafe chimney; the presence of mold, asbestos, lead paint or other hazardous materials; and the effectiveness of smoke detectors and carbon monoxide alarms. They will also look at the windows, doors and trim to make sure they are in good shape and keep heat in and cold out. Inspectors may also inspect the yard for safety and security issues, such as buried propane tanks, overgrown trees and shrubs that can block emergency exits and poorly maintained pool areas that could be drowning hazards.
The cost of a home inspection can be offset by the knowledge gained about the condition of the property. In addition, a detailed home inspection report can be useful in negotiating with the seller to make repairs prior to closing. If major problems are revealed, a buyer can decide whether to cancel the purchase or request that the seller lower the sales price or provide credits towards future expenses.
Often, buyers who skip home inspections can find themselves facing unexpected and costly repair bills after they move in. Considering that a home is likely the largest single investment you will ever make, it makes sense to learn as much as you can about the condition of the property and its need for any major repairs before you buy it.
While some buyers consider waiving a home inspection in a hot market to make their offer more competitive, it is generally a mistake. A home is the biggest purchase you will ever make, and discovering expensive problems after you move in can spoil your enjoyment of it and add to your stress level. If you are concerned about the costs of a home inspection, talk to your agent or attorney before proceeding. They can recommend reputable local companies that will give you fair prices. They can also help you weigh the pros and cons of including an inspection contingency in your contract. Your agent or attorney can also advise you about negotiating with the seller to make necessary repairs. If the seller refuses to make acceptable repairs, you can withdraw your offer or sue for damages.