Protect Your Home Purchase with a Home Inspection

When you are in the process of  purchasing a home, take advantage of contracting for a home inspection to protect your potential investment.  It is important to understand what the inspection process is and your options in mitigating any issues that arise.

A home inspection is often confused with an appraisal as both processes are related to the "inspection" of the property in a home . A home inspector determines the condition of a structure, whereas an appraiser determines the value of a property. The process is a visual inspection of a home (or condo) made by a qualified (certified) home inspector who is trained and has experience in evaluating all of the component features in a home, and who is able to give a clear and accurate picture of the condition of these components. A home inspection just isn't a code inspection, which verifies local building code compliance. A home inspector thinks "Safety" not "Code" when performing a home inspection.

The inspection is created to identify issues that may exist, advise of repairs needed and, in some cases, provide preventive maintenance advice. It consists of inspection of the physical structure and mechanical condition of a home, from roof to foundation. Throughout the inspection, the inspector may identify problems that need further inspection by other qualified contractors. In some cases, the heating or structural elements of a property may require an "expert" to full evaluate the scenario.

If the inspector finds problems in a building, it does not necessarily mean you shouldn't purchase it, only that you will know in advance what kind of repairs to anticipate. A seller may be willing to make repairs of material defects discovered by the inspector. Properties are not ideal, which includes new construction, and usually have "maintenance" problems which are considered to be normal for the age of the property.

Is the Inspector Qualified?

In many states, home inspectors must be licensed to perform an inspection for a buyer purchasing real estate. If a license is not required, look for an Inspector that is qualified, has years of experience, and has membership with the major associations in the inspection business, and has taken continuing educational courses that make his services a lot more valuable. Ask of the inspector if they are a member of a professional home inspection organization or certified by The American Society of Home Inspectors http://www.ashi.org. Does the inspector carry Professional Liability Insurance (Errors and Omissions Insurance)? Be sure you ask for a copy of their liability insurance policy. In case you ever need to collect on a legal judgment, the inspector's insurance policy will be able to pay on your claim.

As crucial as the physical home inspection is, it is half of the process. The other half is the inspection report and it is each and every bit as critical. The report will indicate the material defects and repairs that concerns the inspector. Once you have received all of the inspection reports, you may think about negotiating repairs or monetary compensation from the Seller. It really is appropriate to share the inspection report with the Seller if you are asking for mitigation of the issues. Seller's may seek their own opinion of the identified defects so that they can fully evaluate their alternatives.

Once the home inspection process has been completed it is possible to complete your home purchase with confidence about the condition of the property and all its equipment and systems. From the inspection, you will have learned many issues about your new home, and will want to keep that information for future reference. If you're a first time home buyer, the home inspection will provide a valuable education about the maintenance of a property.