Home Inspections

Though the economy is currently going through a rough patch, with more than a few people losing their homes in foreclosure, there are homeowners still out there, selling their homes, and prospective buyers still willing to buy them. And when an owner and a buyer can get together and agree on a sale, certain things will need to occur, one of which is usually an inspection. Given that, there are things you need to know about home inspections.

The first thing to know is that home inspections aren't an iron-clad requirement of any real estate transaction, but anybody who doesn't ask for one when buying a home that's not brand new is taking a risk that doesn't need to be taken. Normally, upon an agreement by a seller and a buyer to enter into the sale, a buyer will make the actual consummation of the sale dependent upon the home successfully passing such an inspection.

The second thing to know about activities such as these is that the inspection is normally part of the cost of buying the home, unless the seller voluntarily agrees to pay for the cost of an inspection, which usually runs from 100 to 300 dollars, depending upon the level of inspection being conducted. At a minimum, a good inspection should consist of a check of the foundation, the structure of the home itself, and all major heating and cooling systems.

These sorts of home inspections are also different from what may be required by the municipality (usually a city, town or township) in order to sell the house. Those are called "certificates of occupancy, " and they're almost without exception paid for by the seller of the house. By law, when a certificate is required, the house cannot be sold until a certificate of occupancy is granted.

There are several major credentialing organizations when it comes to home inspectors, so take some time to find a good one. Chances are, if a real estate agent is being used by the buyer, he or she will have a list of preferred inspectors with whom they work. Sometimes, the agent can secure a discount on the inspection. Normally, the cost is paid up-front, and NOT as a part of the buyer's closing costs at the sale closing.

Home inspections, especially when the house isn't brand new and being sold by a developer or the like, are a sound method for ensuring that a buyer isn't purchasing a home with hidden or unknown problems that even the seller wasn't aware of, such as possible termite infestations or foundation sagging and such. Get one, whenever possible.