A home inspection evaluates a property from top to bottom. It assesses the condition of the physical structure, factoring in the foundation, roof and everything in between. An inspector should discover any areas of concern and identify the necessary repairs, so you can be aware of any potential issues that can impact the value or sale of the home. Read on for everything to know about the home inspection process.
When Should the Home Inspection Be Scheduled?
A home inspection should be conducted after your offer has been accepted and before the closing. The earlier any potential issues are discovered, the better. This will help you further negotiate the price, give the seller time to fix any problems, or be able to negotiate credits into the sale price of the house.
How Long Does a Home Inspection Take?
Depending on the size of the home, a home inspection can take a few hours, or the majority of the day. An inspector will likely provide the inspection report in several business days and any recommended repairs.
Should the Buyer Attend the Inspection?
It’s a wise idea for the buyers to attend the inspection, to be able to ask questions throughout the process, see what the inspector is assessing and learn more about the details of the house you may not otherwise notice.
What is the Inspector Looking for?
During an inspection, the home inspector looks for existing issues, as well as potential future issues. This is especially important as they assess issues that aren’t visible to the common eye. This includes cracks in the foundation, problems with the heating, air conditioning, plumbing or electrical systems, leaks in the roof and ensuring everything is up to code. Below outlines some of the elements an inspector will be looking at:
Home’s exterior: walls, doors, balconies, porches, decks, walkways, driveways, drainage system
Home’s interior: stairs, doors, windows, cabinets, appliances
Home’s structure: foundation, roof, walls, ceilings
What are the Next Steps After Receiving the Inspection Report?
All recommended repairs will be noted in the inspection report. As the buyer, there are several ways to remedy any issues.
The buyer can ask the seller to cover the cost of the repairs by having the work done before closing on the house.
The buyer can ask the seller for a credit that will cover the cost of the repairs. This allows the buyer to hire the contractors and have more control over the repair work.
The buyer can call off the deal.
If the market is highly competitive, the buyer can purchase the home knowing the repairs need to be made and make them without asking the seller to cover any costs.