(901) 682-1868 Ext. 326
(901) 682-1868 ext. 303
(901) 682-1868 ext. 389
After you find the perfect home and “have it under contract”, it is time for the inspections. Because inspections are done for your benefit, they are at your expense. And because inspectors are independent business people, they expect to be paid when the inspection is done. . As the buyer, you will also pay for the appraisal and closing costs. Depending on the lender, when you pay for the appraisal, credit reports, and other closing costs will vary.
A home inspection is a thorough review of a house by a third party professional, who is trained and licensed specifically to provide this service. This home inspection is a comprehensive assessment of a home and can cover hundreds of items. Most home inspectors will provide you with a detailed report of their findings after the inspection is complete so that you can make informed decisions about if/what repairs are needed.
The inspection process typically takes a few hours for a medium-sized home. The inspector examines both the interior and exterior of the house, looking for anything that is broken, aged, or not working properly. When you are purchasing a home, you expect it to be safe and structurally sound. The inspector’s task is to evaluate the condition of various components and to identify defective issues. As the buyer, if you have specific concerns, let your inspector know before he or she begins the inspection. As the buyer, you have the right to attend the inspection. However, many buyers attend just the end of the inspector’s visit to the home to observe his or her verbal review. Most home inspectors provide a home inspection report with color photos that identify the areas and components of concern.
Some of the specific items a home inspector will look for include:
It is important to know that an inspector is not allowed to disassemble or damage any of the components. It is also important to know the general home inspection may prompt you to have specialists come and inspect particular components which are beyond the scope of the home inspector’s training and abilities. For example, there may need to be a follow-up inspection of the heating and air conditioning system or, perhaps, the electrical panel.
These inspections are intended to provide you with an education about the condition of the home you plan to purchase.
Inspections are critical in the home buying process – for protection, for safety, and for your family’s well being. We’re here to help you find the ideal home - and an inspection ensures that you have a greater understanding of the overall condition of the home. Home inspections are important for other reasons too, such as those noted below.
A home inspection gives you powerful knowledge that you may use to negotiate seller-made repairs. Upon receipt of the home inspection report and any specialty reports, you may ask the seller to repair defects. Keep in mind that the seller is not obligated to fix anything. Your REALTOR® can help you navigate the home inspection process and review the report, deciding which items are worth bringing up and which are not. As the future owner, you may prefer to have some items repaired after closing in order to control who does the work and what they do.
You may absolutely fall in love with the house, unaware that there are significant (but unseen) issues. It’s the home inspector’s job, as well as subsequent specialists, to identify problems which may be safety issues for you after you take possession. Bear in mind, however, that home inspectors do not have x-ray vision. They can only see what they can see. So while valuable to your anticipated use of your home, there might be issues that only surface over time, after closing and occupancy.
If the home inspector discovers a sizable or costly issue, you have an opportunity to reconsider your decision to purchase. Sellers may or may not agree to fix major issues; and you may terminate the agreement if the condition of the home is unsatisfactory.
Nothing in a house lasts forever, but certain systems in a house cost much more than others. Your home inspector will give an approximate age of the major components of the house, such as the HVAC systems, water heaters, roof, plumbing system, and more.
By knowing the age of the systems in your new home and about how long they are expected to last, you will have a better idea of when you could possibly have to replace such items. Bear in mind that sellers are not required to replace items just because they are nearing the end of their anticipated useful life. The knowledge, however, enables you to plan for future expenditures.
Buying a house is possibly the biggest purchase you will make in your lifetime. It can be a stressful process. However, having a professional home inspection can help put your mind at ease about this significant investment. You will know the condition of the house before you close, so it is less likely you will be surprised when you move in.
As seasoned REALTORS®, we know that home inspections are valuable tools in helping homebuyers make sound financial decisions about their purchase. Our experienced agents will guide you through the entire home buying process, including the inspection process. For more information, please contact us. We look forward to working with you to help you find your dream home!