What to Know About Home Inspections
One of the steps in the home buying process involves getting a home inspection. When you’re making such a significant financial decision, it is essential to make sure that the property is in proper condition. You don’t want to face any surprises after closing on a home.
When do I get a Home Inspection?
Typically, an inspection takes place after you find the right property, make a purchase offer, and the seller has accepted the offer.
How do I Find a Home Inspector?
Similar to many other services, you can rely on your friends or family members for a home inspector referral. Your real estate agent or mortgage lender may also work with specific home inspector companies. Make sure you hire a home inspector that has excellent reviews and is very thorough.
What is Checked During a Home Inspection?
The home inspector thoroughly evaluates the condition of the property. During a home inspection, the following factors may be examined:
- Heating and electrical systems
- Windows and doors
- Structure of the home and foundation
Once all of these items (and more) are examined, the home inspector will review the overall condition of the home with you. The home inspector will point out any problems such as cracked walls, leaking roof, mold, etc.
How Long Does a Home Inspection Take?
Home inspections may take between 2-4 hours, although the time may vary.
What Happens After the Home Inspection?
The buyer and seller will receive complete copies of the inspection. Depending on the severity of problems found during inspections, the buyer may negotiate with the seller to fix any issues or adjust the terms of the purchase offer (if applicable). Contingent to terms of the contract signed with the seller, the buyer may back out of the deal and move on if the seller refuses to make repairs.
A home inspection not only brings light to issues unknown to the buyer but also possibly to the seller. The seller might have never known that there were any issues with the property!