Home Inspections

We are often asked whether or not home inspection is mandatory? Is one required?

Generally, the answer to that strictly posed question is...No, they are not usually required. Some lending institutions might require an Inspection for a very old property and there may be some other specific scenarios where one might be required. It's rumored that there is legislation being proposed that might make them mandatory in some states or local areas. But for now, Home Inspections are not mandatory... strictly speaking.

According to Wikipedia:

A home inspection is a limited, non-invasive examination of the condition of a home, often in connection with the sale of that home. Home inspections are usually conducted by a home inspector who has the training and certifications to perform such inspections. The inspector prepares and delivers to the client a written report of findings. The client then uses the knowledge gained to make informed decisions about their pending real estate purchase. The home inspector describes the condition of the home at the time of inspection but does not guarantee future condition, efficiency, or life expectancy of systems or components

And a fairly good definitive description that is... it's all about a potential buyer of a home exercising their due diligence in finding out all that they can about the home; to gather and collect all available information so that they are able to make an informed and educated purchase decision. It's all about becoming smarter about that for which you are about spend your money...in most cases, a large amount of money.

I would suggest that, perhaps, a better question might be whether or not attaining a Home Inspection is prudent. Is it a smart thing to have one performed? Is the attainment of a professional evaluation of the property something that you should require of yourself?

The answer to that questions should be a resounding...Yes! The vast majority of prudent consumers opt to have an inspection. The U.S. Department of Housing and Urban Development (HUD) recommends that an inspection be accomplished. They have an entire publication titled For Your Protection: Get A Home Inspection that is readily available and that is devoted to home-buyers. In that publication, HUD-92564-CN, they urge people to be informed buyers:

Be an Informed Buyer

It is your responsibility to be an informed buyer. Be sure that what you buy is satisfactory in every respect. You have the right to carefully examine your potential new home with a qualified home inspector. You may arrange to do so before signing your contract, or may do so after signing the contract as long as your contract states that the sale of the home depends on the inspection.

Is a home inspection mandatory? From a legal standpoint, it's not likely that it is. From a lenders perspective, it's likely not required either. A Home Inspection is, however, a valuable tool for a prudent and educated home-buyer; a tool that, perhaps, should be considered as a... self-imposed... mandate.