Why Get a Home Inspection?

One of the most important things you should do before purchasing a property is to have it inspected by a qualified professional home inspector. If you disagree, we understand because, as it is, buying a house is already a costly affair. Why should you spend a couple of hundreds more if it's not mandatory? Our post will attempt to answer your question as we'll discuss what a house inspection might uncover and whether or not the investment is worthwhile. 

Important Takeaways

  • A home inspection contingency enables homebuyers to identify any major or minor problems with a house before making an offer on it.

  • It is common practice for mortgage companies to require an examination of a property before providing funding.

  • Mold and improper wiring may be found during a home inspection, which might lead to a major fire if not addressed.

  • After an inspection, potential house buyers have a seven-day grace period to back out of a deal.

  • When buying a property, a thorough examination is essential.

  • Electrical, plumbing, roofing, HVAC, and foundations are just a few of the items that a home inspector will check on both the inside and the outside of a house.

Due Diligence Contingency

Home inspections provide potential buyers the chance to learn about any serious flaws in a house before making a final decision. In the event of any discrepancies, you may use the inspection report as a bargaining chip during negotiations with the seller. Using this contingency, you may withdraw your purchase offer without penalty if a house inspection shows severe flaws. If they are willing to let you walk away from such a large deal, the possible faults with the house must be rather substantial.

Realtors have also been known to incorporate stipulations requiring a house inspection in contracts, such as those for newly constructed homes. New construction inspections often cover the following:

  • Foundation: Before pouring any concrete, it's important to double-check the foundation to make sure it's solid.

  • Pre-drywall: Before the drywall is placed, the structure and mechanics of the room are checked.

  • Full inspection: A detailed walk-through of the finished residence is carried out.

The Scope of a Home Inspection

A qualified home inspector should do a comprehensive examination of the house's various systems and then provide a report detailing their findings. It's best to be there for a two- to three-hour inspection so that you may learn from the inspector's observations and ask questions if required. Inspection reports are far more helpful if you can actually see the defects that the inspector finds rather than relying on photographs alone.

The inspector should take note of the following:

  • Whether each condition constitutes a safety hazard, a significant fault, or a minor defect.

  • Which parts should be replaced and which ones should be fixed or serviced.

  • Items that are appropriate for the time being but should be thoroughly examined in the future.

An experienced inspector will also advise you on routine maintenance that should be carried out, which can be quite beneficial if you are a first-time buyer.

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