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 Home Inspection
Before you sign on the dotted line to close the deal, there is still more information you need to glean about your future abode. How safe is the structure? How do I know if the slab has a leak?
The best way to answer these questions and others is to call on the services of a home inspection professional. A home inspection can provide you with a printed report that will allow you to objectively review the structural integrity of the home and determine if any repairs are needed prior to closing.
Home inspection is a proven way to obtain peace of mind while reducing any future problems in your new home.
The next step will be to select a home inspection company that subscribes to a set of best practices in the industry. Before you make a snap decision, ask a few questions to the prospective home inspection company.
You will want to determine whether they are members of a larger professional organization, such as the American Society of Home Inspectors (ASHI) or the National Association of Home Inspectors (NAHI) or the National Association of Certified Home Inspectors (NACHI), which has a code of ethics its enforces among its members.
Also, you may consider consulting the Better Business Bureau to determine if any complaints have been filed against the company which you have interviewed. Next, you will need to ask the home inspection company to show proof that they carry Professional Liability Insurance, which is also referred to as Errors and Omissions Insurance.
The home inspection report will contain information about the home’s heating and cooling systems, plumbing, electrical system, roof, attic, visible insulation, walls, ceilings, floors, windows, doors, foundation, landscaping and visible structure. However, a home inspection is not allowed to predict any future possible defects in the home’s systems or structure.
Home inspection fees vary from state to state, the size and type of home being inspected and the number of features involved. Most inspectors charge for extra services, such as radon testing, termite inspections, and well and septic tank inspections. Home inspection fees can range from $300 to $500 for a 2,000-square-foot home.
Because of the nature of the real estate market, home inspections need to be conducted in a timely manner. As a general rule, your potential new home should be inspected within two-to-three days after the purchase agreement has been signed. For your protection, you will want to make sure you have a clause in your purchase agreement that allows you to terminate the agreement if the home inspection comes back with unsatisfactory results. Make sure this clause spells out the terms to which both the buyer and seller are obligated.
A thorough home inspection will serve as a set of checks and balances whether it involves new construction or the purchase of an existing home. A well-prepared home inspection report will serve as a prescription to correct any minor problems before closing time. However, major problems may require negotiations between both parties to come to a resolution both can agree upon. Either way, your home inspection report will serve as way to help you make an informed home-buying decision.
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