A home isn’t only what you see on the surface. It consists of numerous complex components. And when you’re buying a home, you may be able to settle for minor cosmetic repairs. However, you need to be sure everything beneath the surface is in shape. That’s why an extensive home inspection is valuable and necessary. But, what is home inspection and when should it take place? Here you’ll find the answers.
What is home inspection?
Obtaining a house inspection is common practice in real estate even if you’re investing in luxury real estate 101. Also, it’s almost entirely done for the benefit of the buyer, even when they’re paying for it. So, it’s important to find out what is home inspection and when should it take place.
A home inspection is a visual examination of a home’s physical structure and mechanical systems. And that includes the roof, walls, ceilings, floors, doors, and windows. It’s performed by a professional called a home inspector. Also, he will do an electrical inspection before you a home. The goal here is to uncover issues with the home that could materially affect its safety, livability, or resale value.
Inspectors will not tell you whether you’re getting a good deal on the home or not. Also, they will not offer an opinion on the sale price. They will just offer you an evaluation in a comprehensive report so that you as a buyer can be fully informed of the home’s condition before purchasing.
When it should take place?
A buyer’s inspection takes place after the buyer made an offer on the home, but before closing the sale. So, buyers should hire the inspector “in escrow” to perform a thorough inspection of the property. Then, once the inspector finishes the job, and provides the comprehensive inspection report on paper, the buyer has two options. He can renegotiate the offer or request repairs if certain issues come up.
Sellers do not have the obligation to repair any discrepancies. But, in those cases, homebuyers usually have the opportunity to back out of the deal. So, you can see why it’s important to include a house inspection contingency within your purchase offer.
How to hire a house inspector?
As a buyer, it’s on you to hire the hose inspector. It’s advisable to do it even when the seller offers to share their inspection report or claims the house is inspected. So, just like you need to learn how to find a reliable moving company, you also need to know how to find a reliable inspector. You can start your search by getting recommendations, and researching databases of professional associations.
You not only need to find out what is home inspection but check with Better Business Bureau to find out if the home inspector has reviews there. Then, make sure you contact the potential house inspector. Ask them about experience, training, and areas of expertise. To find a professional to work with, you can ask for references from prior clients. It will help you determine whether any issues that were not in a report showed up.