Expensive repairs can hurt your bottom line

What’s A Home Inspection And Why It’s Needed

When selling your house it is very common for the buyer to request a home inspection. Home inspections are typically scheduled by – and at the expense of – the buyer. The largest role that a seller typically plays in a home inspection is making sure the property is accessible during the inspector’s visit.

During the inspection, a licensed home inspector will go through all of the systems of the house. It’s the inspector’s job to find any system defects, malfunctions, or anything that may become an issue for the future homeowner. Some of the things that a home inspector will look at will be:

  • Search for visible leaks
  • Look at the wear of the roof
  • Locate rotted wood on the facade
  • Check outlets and light switches
  • Test the air conditioner
  • Test heating systems
  • Make sure the water heater operates
  • Look out for cosmetic imperfections
  • Etc.

Why Is A Home Inspection Needed?

A home inspection is needed mainly for the buyer’s peace-of-mind. Buying a home is a major purchase and a home inspection is a precautionary step for the buyer. Buying a home that will need major repairs could become a money-pit. The home inspection is a way to identify any possible repairs that may be needed.

Does A Home Inspection Have Any Shortfalls?

Yes. Inspectors can only report on what is accessible and visible to them. Most inspectors will not be able to identify problems that may be unseen. for example, problems that exist behind the walls such as bad wiring, or environmental problems such as soil settling that may lead to foundation issues. Most inspection reports will disclose their limitations upfront. This disclosure will usually include that the report is for informational purposes only, to the best knowledge of the inspector, and that the inspector assumes no liability for the contents of the report.

After The Inspection

Once a home inspection has been conducted, a detailed inspection report will be given to the buyer. At this point, the buyer may opt to discuss any items of the report with the seller. The buyer may want the seller to repair certain issues listed in the report; as an alternative, the buyer and seller may agree to reduce the price of the property for what it would cost to make the repairs.

It’s not uncommon for certain items in the report to warrant no action. For example, if the buyer already intended to change a light-fixture that was discovered to be faulty, the issue may be overlooked and left as-is.

Cost

The cost of a home inspection will vary greatly by geographical market. On average, a home inspection can range between $400 and $600.

Conclusion

Although a home inspection has it’s limitations and lacks a warranty, spending a few hundred dollars can save thousands in unforeseen repairs.



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