Congrats! You found the home of your dreams and the sellers accepted the contract.
After you have a signed contract, you usually will have a certain amount of time to conduct inspections on the property. If you are working with a professional real estate agent, he or she will have hopefully gone over this time period with you before you submitted the contract. I usually write in a 10 day inspection period, meaning my clients will have 10 days after acceptance of the contract to have any inspections they deem necessary to be performed on (ex. building) or off (ex. lab testing of mold) the property.
Today’s blog will focus on one of the most common inspections.
A home inspection is an objective visual examination of the physical structure and systems of a house, from the roof to the foundation. The standard home inspector’s report will cover the condition of the home’s heating system; central air conditioning system (temperature permitting); interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement and structural components.
Buying a home could be the largest single investment you will ever make. To minimize unpleasant surprises and unexpected difficulties, you’ll want to learn as much as you can about the newly constructed or existing house before you buy it. A home inspection may identify the need for major repairs or builder oversights, as well as the need for maintenance to keep it in good shape. After the inspection, you will know more about the house, which will allow you to make decisions with confidence. While it’s not required that you be present for the inspection, it is highly recommended. You will be able to observe the inspector and ask questions as you learn about the condition of the home and how to maintain it.
What if there are problems? No house is perfect. If the inspector identifies problems, it doesn’t mean you should or shouldn’t buy the house, only that you will know in advance what to expect. If your budget is tight, or if you don’t want to become involved in future repair work, this information will be important to you. If major problems are found, a seller may agree to make repairs.
You can ask friends or business acquaintances to recommend a home inspector they have used. Or, you can use the download a List of Home Inspectors in your area who belong to the non-profit professional organization. Also, real estate agents and brokers are familiar with the service and may be able to provide you with a list of names from which to choose.