What To Expect When Getting A Home Inspection
A home inspection is one of the requirements of people buying a home. Its objective is to come up with a report on a home’s condition both positive and negative. Getting a home inspection assures them that the property they are buying is in good condition and they’re investing their money in the right place. A home seller may also initiate this to show buyers the real condition of his or her home.
To home buyers, a home inspection is vital as it determines the possible problems that may exist in their future home. This will enable them to request for immediate repair from the seller if possible. Many buyers are usually emotional when purchasing a new home and they want to make sure that they’re moving into a property free from worries.
As for home sellers, they are now becoming conscious about getting a thorough inspection before listing their home. This allows them to honestly reveal the condition of their home notably in the required property disclosure form. Doing this also enables them to know firsthand the possible defects of their home and thereby allow them to do the repairs right away instead of having the buyer discover the problems after the negotiation process. Initiating the home inspection will actually save them money.
Inspection coverage
A professional real estate inspector is in charge of doing a home inspection. Depending on the size of the home, an inspector may take several hours or more than half a day in evaluating a home and more time writing a home inspection report. The average fees for such services range from $200 to $500.
A home inspection covers several existing systems and equipment in the home such as the plumbing and drainage, air conditioning and heating system, electrical and roofing. These systems as well as other appliances are normally put to test to make sure that they are functioning well.
Presence of termites and other pests and possible damage should also be looked into by the inspector. If pest existence is proven, the inspector should inform the owner and give recommendations on how to solve the problem.
An inspector should also look into the interior and exterior paint, gutters, flooring and walls to determine if they need repair or are in good condition.
All other areas of the home are considered in the inspector’s evaluation. From the floor plans and property layout, walls and ceilings, insulation, ventilation to the floors, windows, doors, closets and fireplaces as well as the exterior areas, the professional real estate inspector will look into each of them.
Estimating the cost
Once the inspection report is done, you now have the opportunity to estimate the costs of bringing the home up to your standards including repair and maintenance and then find solutions to problem areas. It is also during this stage when you should decide whether to pursue buying the property or consider another home. Reading through the report will allow you to compare the other homes you may want to consider purchasing. Reviewing the findings with the inspector himself is ideal to help you understand the positive and negative results.
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The process can be stressful. A home inspection is supposed to give you peace of mind, but often has the opposite effect. You will be asked to absorb a lot of information in a short time. This often includes a written report, checklist, photographs, environmental reports and what the inspector himself says during the inspection. All this combined with the seller’s disclosure and what you notice yourself makes the experience even more overwhelming. What should you do?
Relax. Most of your inspection will be maintenance recommendations, life expectancies and minor imperfections. These are nice to know about. However, the issues that really matter will fall into four categories:
Major defects. An example of this would be a structural failure.
Things that lead to major defects. A small roof-flashing leak, for example.
Things that may hinder your ability to finance, legally occupy or insure the home.
Safety hazards, such as an exposed, live buss bar at the electric panel.
Anything in these categories should be addressed. Often a serious problem can be corrected inexpensively to protect both life and property (especially in categories 2 and 4).
Most sellers are honest and are often surprised to learn of defects uncovered during an inspection. Realize that sellers are under no obligation to repair everything mentioned in the report. No home is perfect. Keep things in perspective. Do not kill your deal over things that do not matter. It is inappropriate to demand that a seller address deferred maintenance, conditions already listed on the seller’s disclosure or nit-picky items.
Nick Gromicko
Founder
InterNACHI
(non-profit trade association)
http://www.nachi.org