Choosing the right home inspector can be a daunting task, especially if you have never hired one before.
When you are finished with this article, you should know and understand all about home inspection.
A great resource that you can also use is from American Society of Home Inspectors. There you will find information about code of ethics.
If you are in the state of Texas you can visit TREC and read the standard practice.
Why you need a home inspection.
When considering buying a home, you should strongly consider having the home inspected by a Home Inspector.
Why is this so important?
Because,buying a home will be one of the most important purchases you make in your life, so you must be sure that the house you want to buy is in acceptable condition.
Acceptable condition is saying you want to make sure that it is acceptable to you the buyer.
A home inspection is basically a assessment of the condition of a home by a qualified professional.
When inspecting a home, a qualified inspector must carefully and impartially look at the property you plan to purchase.
The inspector will first assess the physical condition in terms of design, construction, and mechanical systems.
Secondly, the inspector will identify items that should be repaired or replaced; and ultimately evaluate the remaining useful life of the central systems (such as electrics, plumbing, heating, air conditioning), equipment, construction, and decoration.
But be careful, the home inspector will not evaluate the value of the home. The report you receive is not a property valuation, it is just a report showing you things that need to be repaired or things that are working in the home.
Appraisal is the evaluation of the property required by the lenders before approving the loan to make sure that the amount of the mortgage loan does not exceed the value of the property.
Do not confuse the inspection of the house, which is intended for the buyer, and the Appraisal report of the house, for lenders.
If you are a home buyer, you must carefully select a qualified inspector and pay for it. Your real estate agent may recommend some home inspectors to you, or you can find a licensed inspector for professional or government agencies.
Please Note: That if you choose not to do a home inspection, then your realtor is going to ask you to sign off on a form that states you do not want a home inspection.
A Home inspection is the buyer’s choice. Although it is always recommend you do a home inspection it doesn’t mean you have to. It’s all up to you as the buyer….
What to ask for when you are looking for a home inspector.
After months of searching for homes, you finally found a home that meets your needs, and now you have a contract.
Most contracts have a clause that allows you a option period or a due diligence period.
Due diligence or Option is a period that will enable you a chance to do your inspection on the property to see if you want to continue with the buying process.
During a comprehensive check, most home buyers ask a professional inspector to check the house out thoroughly and check if they can find any problems with the house before you decide to buy it.
I’m sure you are wondering what exactly happens during the inspection of the house, and what should I do if there is a problem?
You can answer these questions by talking to your agent and home inspector, but here are a few things you might think about.
Home inspections vary widely from state to state and from inspector to inspector.
To get a satisfactory home inspection, it is usually recommended that you talk with your real estate agent about the home inspectors they approve.
Real estate agents typically have a couple of favorite inspectors to whom they can send you, and then you should interview these inspectors to get a complete picture of the services they provide.
When interviewing a home inspector to determine if the services they provide will be useful for your needs, here are a few questions you should consider.
Ask the inspector what type of associations they belong to, how many years have they been in business, and what equipment do they typically use to do the inspection.
Ask how they present their reports and what types of fees are related to a general inspection, as well as other items that they can offer outside of their usual inspection services.
Items that home inspectors should always check during the inspection include structural elements of the house, such as foundations, paint, siding, roofing, and interior walls.
They must verify the integrity of the external surface, including the landscape, layout, height, drainage, fence, sidewalks, doors, and windows.
Other essential home inspection items are plumbing, electrics, appliances, stoves, air conditioning, and any moving parts of the house.
After your home inspection is completed, you must determine whether to carry out the necessary repairs yourself or ask the seller if they will assist in making the repairs.
This is usually all done within the Option Period or Due Diligence Period.
Talk with your agent about what is normal in your area and find out how to arrange a repair to best suit your needs.
You should strong think about always getting a Home Inspections when you purchase a home, they can save you from a massive headache in the future, and you will never know what may be wrong with the house.
Home Inspection Cost
Are you curious about how much you will pay for a home inspection? In this section, we will talk about this in more detail.
The cost of a home inspecting can vary from state to state.
Understand that the home inspector may charge you based of the sqft of the home and also might charge you based of whether the home is a pier and beam or slab foundation.
They also might offer termite inspection along with the home inspection so the price will vary. Your goal is to hire the best inspector you can find that offers quality service.
Sometimes you want find that for a cheap price.
You want a inspector that will give you a thorough inspection as well as a fair price.
The size of the house is an essential factor in determining how much a inspection will cost. If your home is large, it will require a more extended inspection.
Of course, a small apartment or apartment will take less time.
Verification can take anywhere from two hours to six hours, and sometimes longer if problems are discovered.
Remember, the longer your inspector has been in your new home, the better.
Choosing a good inspector with whom you will be satisfied with is very important. Ask your friends and family for referrals.
It’s best to find someone this way than to look for a name in the phone book.
Based of HUD the average home inspection cost is around 300 to 500.
The cost will also be higher if you are in a big city, and less if you are in the centre of the country.
At first glance, it might seem like a lot, but maybe this is one of the best investments you will ever make.
Importance of doing a home inspection.
Every day, thousands of people around the world buy homes.
In most countries, the process of real estate transactions is very well organized and offers protection to buyers in the form of preliminary checks, compliance provisions, and other legal rules.
All of them are designed to protect the buyer from buying a “lemon.”
This is why you choose the best home inspector.
The goal is to make sure that when you say yes after your option period you are read to move forward with the buying process.
A specialist with a trained eye can detect any safety problems associated with building a house, and advise buyers on possible actions.
Asking the Seller For Repairs
If the property needs some repairs or may require repairs in the future, homebuyers can consult with contractors, find prices for materials if they plan to fix it on their own, and consult with a realtor to prepare an accurate estimate of costs and this estimate cost is present to the seller to see if the seller is willing to assist with making repairs.
It’s always a good idea to send over the inspection report to the seller.
If for some reason the house has a lot of things wrong with it and it was not disclosed in the Seller’s Disclosure , then the seller will have to update their Seller’s Disclosure.
The seller will now have to disclose everything that is wrong with the property to new buyer’s if you choose not to buy the property.
You could also ask the seller’s for a price reduction to offset the cost in the repairs.
However, it should be noted that the owner of the house may object to a change in price and independently carry out work, in this case, the price reduction may not be so significant, and an additional check will be required to make sure that the repairs are done on the property.
The variety of benefits associated with a home inspection may vary on a case-by-case basis, but home safety, structural diagnostics and prevention of repair costs will always be the main benefits of a professional home inspection.
However, the inspection and report will be as good as the inspector, so it is essential to hire a professional with experience and a proven track record.
Conclusion:
Find out if the inspectors provide any guarantees for their work.
Most will not, but some are so confident in their work that they will receive a grant that they will not miss an essential drawback at home. If the inspector has a guarantee, he will be a wise choice.