Home Buying 101: The inspection

1 year ago

What is the Inspection Process When Purchasing a Home?

Buying a home is one of the most significant investments you will ever make, and it is essential to ensure that you make a sound investment. A home inspection is a crucial part of the home-buying process. It is a visual examination of a property's physical structure, mechanical systems, and overall condition, providing buyers with an objective and unbiased evaluation of the property's condition. In this article, we will discuss the inspection process when purchasing a home.

Why is a Home Inspection Necessary?

A home inspection is essential because it provides buyers with a thorough understanding of the condition of the property they are buying. It helps identify any potential problems or safety issues that may be present, allowing the buyer to make an informed decision before finalizing the purchase. Additionally, a home inspection can save you money in the long run. By identifying any issues before the purchase, the buyer can negotiate repairs or credits with the seller, potentially saving them thousands of dollars.

The cost of a home inspection varies depending on the size and location of the property, but it typically ranges from $300 to $500. Although the cost may seem high, it is a small price to pay compared to the potential costs of buying a home with hidden issues.

What is Involved in a Home Inspection?

A home inspection covers various areas of the property, including the exterior, interior, electrical, plumbing, HVAC, and roofing systems. The inspector will provide a detailed report of their findings, including any issues or safety concerns that need to be addressed. You can also request a radon inspection from your inspector. This will test the home for any level of gas that may be in the home.

Exterior Inspection

During the exterior inspection, the inspector will evaluate the condition of the property's foundation, roof, walls, windows, doors, and landscaping. They will look for signs of damage, such as cracks, leaks, or missing shingles. They will also examine the property's grading and drainage to ensure that water is being directed away from the foundation.

Interior Inspection

The interior inspection covers the condition of the property's walls, ceilings, floors, doors, and windows. The inspector will look for any signs of damage, such as cracks or water damage. They will also evaluate the condition of the kitchen appliances, plumbing fixtures, and HVAC systems.

Electrical Inspection

The electrical inspection covers the property's electrical system, including the wiring, circuit breaker, and outlets. The inspector will evaluate the condition of the system and check for any potential safety hazards, such as overloaded circuits or outdated wiring.

Plumbing Inspection

The plumbing inspection covers the property's plumbing system, including the pipes, fixtures, and water heater. The inspector will evaluate the condition of the system and check for any potential safety.

The inspection will need to be conducted with in the time frame specified in the purchase agreement, usually 7 days- this includes the inspection and full negotiations between parties to be completed. The inspection its self can takes 3-4 Hours. The inspector will has you to usually come at the end of his inspection. They will then walk you through the home to discuss all of their findings. During this time Please ask questions about anything. Your inspector is a great resource of how to maintain item and he offers a wealth of information.

After discussing your inspection findings with your Realtor you then may write up an Amendment that Includes any inspections items that you may want the Seller to Fix. This will then start a negotiation- the seller may agree to all that you have asked for or the seller may only agree to some. If and when both parties agree on your requested Items then the Inspection Contingencies will be lifted and the sale can proceed. But if parties cannot agree the purchase agreement can be cancelled and earnest money be sent back to you, unless otherwise specified in the purchase agreement.

Click on the articles below to help you with your home buying process:

What does a first time home buyer need to know

Connect with a Buyers Specialist

Home Buying 101: The Mortgage Process

Home Buying 101: Writing a Purchase Agreement

Home Buying 101: Your Offer has been Accepted! Now What??

Home Buying 101: The Inspection

Home Buying 101: What are Closing Costs?

Home Buying 101: The Closing

Home Buying 101: What is Mortgage Escrow?

Home Buying 101: The Importance of a Title Company

I hope you have found this helpful!