Home Inspections

As a home buyer, you must not ignore the importance of having a home inspection before finalizing the purchase. I always tell potential buyers, especially first-time home buyers, that purchasing a home is probably the largest investment they are going to make. Therefore, the investment must be made after having carefully researched everything you can about the home that you are about to buy. Doing your research carefully includes having an inspection conducted before finalizing your purchase so that there are no hidden, quite unpleasant surprises once the house is in your hands.

Yes, the inspection can seem a bit costly and time consuming, but it can literally save you thousands of dollars if the inspector determines that there are major structural flaws in the home which will need immediate correction. Consequently, it stands to reason that you will want to find a very professional, ethical and competent home inspector so that the inspection done on the home you are going to buy is as thorough as possible.

You can accompany the home inspector while the inspection is being conducted so that you can ask questions and stay as informed as possible about any damages or defects that the home may have. A typical home inspection will take a look at the air conditioning and heating, electrical systems, plumbing, floors, ceilings, roof, windows and foundation. The inspector will also take a look in the attic or basement, if it is applicable and the cost of the inspection will generally depend on the size of the home.

What will be most important to you is the home inspection report. If the home inspector you hired is professional, ethical and competent, you will receive a full report detailing the findings of the inspection. These findings must be detailed and thorough. They should include what is defective with the house you are thinking of buying, why it is defective and repair estimates. Ethics of the profession and sometimes law prevent the inspector from sharing the home inspection report from any other party without your full consent, which is why it is vital to hire an ethical and professional home inspector.

If the report does not contain repair estimates, then it would be worth your time and effort to get repair estimates. You will need repair estimates, along with the home inspection report, in order to renegotiate with the seller if the inspection finds that the house your are trying to buy has major structural defects. A word of caution: Any contract for the purchase of a home should contain a clause that will make the purchase contingent on the findings of the home inspection. If not, you might get stuck buying a home with major structural damage and you may end up paying thousands more to repair the flaws. A home inspection contingency will give you an out if the seller is not willing to negotiate the sale price and the inspection finds that the home will need costly repairs. As a buyer, you have every right to negotiate after the home inspection, and you also have every right to decide not to purchase a home which is found to have major structural flaws.