If you’re buying or selling a home, it’s important to understand what a home inspection entails and how it affects the sale or purchase of a house.
What Is a Home Inspection?
A home inspection is an objective visual examination of the structure and systems of a home by a neutral third party. Basically, it shows you what’s wrong with the property and if it is serious enough to prevent a sale. (Note: An inspection does not concern code violations and therefore does not guarantee that the home is free of them.)
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.
An inspector cannot report on defects that are not visible, such as defects hidden behind finished walls or beneath carpeting, and inaccessible areas. Seasonally inoperable systems (swamp coolers, air conditioning, furnaces) will not be turned on during the inspection.
Hiring an Inspector
I can provide you with a list of recommended home inspectors. I can also send you a sample home inspection report so that you can get a sense of what the home inspection will entail.
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.
Making Suggested Repairs
The seller is not required to make any repairs or replacements. However, the buyer can use the inspection report as a negotiating tool. For instance, if certain repairs or replacements are not made, the buyer may either terminate the contract (and get their deposit money back) or ask for either a reduction in price or a seller's assist.
Costs and Time Involved
The inspector’s most important priority is accuracy, and accuracy takes time. The chances of mistakes are more likely if the inspector rushes through. Your inspection may take between two and five hours. Older homes take longer than newer ones.
Expect your inspection to cost from $400-$900 depending on size. It may be one of the most important investments you make when buying a home, so it is money well spent.