Home Inspections

Congratulations! You've made it through the first stages of your home-buying process. You've obtained financing, chosen a real estate agent, viewed potential homes, placed an offer and it's been accepted. Now it is time for a critical step, the home inspection.

Buying a new home is a significant purchase and you're probably finding out there's more to it than saving for a down payment. The home inspection is not usually a significant extra expense, but it is important to know what you will be getting for your money. Though an inspection is not a legal necessity in many states, most financing companies require one before they will complete your loan. Don't waive inspection unless you are willing to risk the possibility of having to deal with large, costly repairs after closing.

An inspection from a certified professional does not guarantee years of maintenance free home ownership, it is their job to make sure you are fully informed about the house you plan on buying. Your final decision to purchase a particular home should be based on the results of the inspection, so it is in your best interest to use an inspector who is as thorough as possible. Remember, it is also the homebuyer's responsibility to be equally as thorough when discussing the inspection with their chosen certified home inspector.

The home inspection process consists of a few simple steps:

Choose your inspector. Your real estate agent may be able to recommend a couple of certified home inspectors that he or she has worked with before. There are a lot of choices out there, so do your homework; ask friends and family if they can refer you to an inspector they found particularly helpful. Inspections are often required within the first seven to ten days after your offer has been accepted and the contract signed. It will take a couple of days for your real estate agent to coordinate between the inspector, the current owners, and you, so be sure to give yourself plenty of time, but don't procrastinate.

Pre-inspection meeting. Generally, this is just a phone call to set an appointment and provide some basic information the inspector will need in order to prepare for the inspection. Information like approximate age of the home, dates of significant upgrades, etc. can be furnished by either you or your real estate agent.

The Inspection. Plan on being at the inspection and follow the home inspector around. Expect to stay at least an hour or more, depending on the size of the home. Don't be afraid to ask questions about the process. What are they looking for? What possible issues may come up in the future? Although a certified home inspector will provide you with a written report, take your own notes for your personal reference. Keep in mind the inspector is looking for structural issues, possible code violations, future maintenance problems and other items that affect the livability of the home. He or she is not going to address "cosmetic" issues like scratched hardwood or chipped paint.

The Report. Today, most inspectors can give you a written report right away. Some will also offer a web-based report complete with pictures and accessible within a few hours. Copies will be provided to you, the mortgage company and the current owners. Because the report is often a technical checklist, it is important to clarify anything you do not understand with the home inspector. Don't panic if you see a lot written down, many times these are minor fixes that are easily taken care of. But it is the responsibility of the inspector to note everything, no matter how small, which could be problematic.

An inspection is an essential part of the home-buying process. Your final decision can be greatly influenced by what is discovered during the inspection. Knowing what to expect from your certified home inspector will allow you to make the most out of this prudent step.