What To Expect When They're Inspecting

Author: Keith Cook

2008-09-24 Word Count: 528 Category: Real Estate

Unlike an appraisal, a home inspection isn't required by the banks or the government when you buy a house. But when you're bugeting your closing costs, it shouldn't be something that you scrimp on. A home inspection is an important step that could tip you off to present or future problems with the building and save you from making a huge mistake. Buyers who want to cover all their bases before they're locked into their mortgage will ensure that a "General Inspection Clause" makes it's way into the final contract and that they have a report from a reputable professional or agency before they lock themselves into any deal.

Home inspections are usually carried out by a contractor or engineer. The inspector's job is to determine the condition of the building and produce a detailed report. Because an inspection focuses almost entirely on the structure of the building, it often catches problems that an appraisal won't.

What You will Get:

- a detailed physical description of the house
- a list of recommended major and minor repairs
- a complete report (should include photos)

Some of the elements you can expect to be included in an inspection are structural elements like the roof, foundation, basement, attic and garage; and building-wide systems such as heating, air-conditioning, insulation, plumbing and electrical systems. You can expect to get a summary of maintenance concerns including repairs, leaks, fire hazards and safety issues. The inspection will also usually include the exterior of the house, the grounds and drainage. Depending on your inspector's expertise and qualifications, you may or may not have to hire additional people to produce reports for more specialized items such as chimney and fireplace, pests, asbestos, radon, lead and mold.

The National Association of Certified Home Inspectors warns consumers that a home inspection is only as good as the home inspector. Buyers would do well to take these words to heart when they're selecting the organization or person who will be producing such an important negotiating tool for them.

Because the industry isn't as well regulated as the appraisal industry, you'll need to do your homework before you hire somebody. Be sure to review their background and experience in the construction industry. Look for a well-rounded contractor or engineer that has knowledge in a variety of areas and systems. If you live in a state where inspectors are required to be licensed, check their record of complaints. If no licensing is required, look for membership in professional organizations or certification through reputable organizations. And finally, look for someone without any conflict of interest who can provide you with an objective report.

After you've hired the inspector, accompany him or her on the tour of the house, ask questions and pay attention. If the final report you receive turns up any problems, you'll have the opportunity to ask the seller to address them, adjust the selling price, or back out of the deal altogether.

If it doesn't turn up any major problems, rejoice and close the deal, you've just bought yourself huge peace of mind.

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