The basics of home inspections
A critical step buyers can take when making an offer on a home is to insist that the offer is contingent upon a home inspection, which offers a measure of protection that can save buyers from investing in properties that feature a host of costly problems beneath the surface. For individuals who may not know what to expect, the following rundown can shed light on home inspections.
• Recognize that an inspection may be mandatory.
Home inspections, even if paid for by buyers, are often required by mortgage lender to ensure that borrowers can repay their loans, which might prove difficult if a home needs considerable repairs. Estimates from HomeAdvisor state that inspections cost between $279 and $400 on average, but it is well worth the peace of mind of knowing you will not buy a money pit.
• You choose your own inspector. Buyers choose the home inspector, so it can pay dividends to ask people you trust or a Realtor for recommendations, even before you begin searching for a home. The International Association of Certified Home Inspectors (nachi.org) can also help buyers find a home inspector.
• You can, and should, attend a home inspection.
It is wise for buyers to attend a home inspection to see potential issues firsthand. Some home inspectors even prefer clients to attend an inspection so they can point out issues as they go through the house and answer questions directly rather than later on the phone, text or email. Though inspectors typically will answer questions off-site, it’s easier for both the buyer and inspector to discuss issues in person during the inspection. This can be a great way for buyers to become more informed about the home-inspection process.
• Expect to spend a good deal of time at the inspection.
The National Association of Realtors indicates that inspections can take as long as three hours. In addition, sellers typically are not home during an inspection. Buyers who do not want sellers present can request that they are not on the premises during the inspection. There may not be anything to compel sellers to be off-site, but it cannot hurt to ask.