All About Home Inspections

All About Inspections An inspection is an evaluation of a home’s
condition. It’s a valuable part of the homebuying process because it allows you, the homebuyer,
to make sure there are no hidden costs and repairs you’ll have to make when you move
in. Let’s answer the five W’s about home inspections. Home inspections typically take place 7-14
days after the purchase offer has been accepted. The contract usually includes a condition
called a home inspection contingency that means the contract will only move forward
when the inspection is complete and both parties agree on necessary repairs. Inspections typically take one to three hours,
depending on the size of the home. When scheduling an inspection, let the property owner know
that you’ll be there, and make sure the utilities will be turned on at that time,
especially for foreclosed homes. Make sure that places like basements, attics, and service
panels are accessible too. And most importantly, schedule the inspection during a time that
YOU can be there. Don’t wait until signing a contract to find
a trusted inspector. You may not have time to find one. Not all states require inspectors
to be licensed, so ask your real estate agent for recommendations since he or she has experience
working with trusted inspectors. Some mortgage lenders require pest or mold inspections too,
so ask the inspection company what services they can provide, or ask your agent for recommendations
for these special types of inspections. The homebuyer is expected to pay the cost of the
inspection up front. A typical inspection costs about 300 to 500 dollars, though that
can increase based on the size and location of the home. So, where does an inspector… inspect? First
of all, he or she conducts a visual evaluation of the seller’s home, from the basement
to the attic, on the inside and the outside. The inspector looks for problems that need
immediate repair or may need repairs in the future, so it’s important that you be there
to ask questions. The most common problems are found in: the electrical work, plumbing,
the foundation, the roof, flooring, windows, the structure, and heating and cooling systems.
The inspector will not report cosmetic defects, so check for these yourself, like scuffed
floors or hideous wallpaper. The inspector will give you, the homebuyer,
a detailed report on any potential defects. Go over the report with your real estate agent
and identify the repairs you think are most important. Do some research to find out how
much these repairs may cost so you can address them with the seller. Negotiations can result
in a few outcomes: the seller may offer to repair the issues, or you may have to fix
them yourself, and sometimes the seller can offer a credit toward the price of the home
for those repairs. Once all of the repairs have been mutually agreed upon, the homebuying
process moves forward toward closing. Home inspections seem daunting at first, since
it’s the inspector’s job to find flaws in your potential dream home. But rest assured
that the inspector is working for YOU, the homebuyer, to ensure three qualities about
your new home: safety, future livability, and resale value. If you have any questions,
ask your inspector and be there for the home inspection so you can feel confident that
your new home is safe and sturdy for years to come. For more homebuying guides like this one,
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