If you are looking to buy a piece of real estate, one thing that is very important before closing the deal is making sure a home inspection report is ordered. This report is done by either a home inspector, or building inspector who checks over many aspects of the property. This will not only ensure you the property is in good condition, but it can also come in handy when negotiating the selling price if there are repairs that need to be done. This can also help help you avoid unwanted surprises when you close the deal.
The two main purposes of this report is to identify any mechanical or structural problems that are in need of repair.
Like mentioned above, there are two main components of the home that home inspectors will carefully inspect- mechanical and structural. While determining if there is any mechanical problems in the home they tend to look at things such as the air conditioning systems, heating systems, and plumbing. During their structural portion of this report the inspector will have to look for anything in the home that is in need of major, or considered unsafe. This section will include going over the entire home to see if any molding has occurred, looking for termite infested wood, wood rot, and identifying any cracked foundations.
Once the inspector is completed with their task, they will immediately prepare the home inspection report for the person who ordered it. If the person who ordered the report happens to be a potential buyer on the property, this copy will more than likely be shared with the current owner of the home. On this report the inspector will make clear any potential issues the homeowner might have, and ways that the issues can be cleared up. At this time it is up to the seller and the potential buyer to try and negotiate any costs for repairs if needed be.
Another option available with this report is actually being able to attend the home inspection. This will most likely make the process much smoother for the inspector as well because they can show you exactly what problems need to be fixed, instead of just reading the report. However, keep in mind that these inspectors will usually not give any estimates on the cost of repair, because this is not part of their job. Only the person qualified to make the repairs can give you an accurate estimate on the cost of repairs.
Many new buyers believe that it is not that important to get a home inspection done if the property seems to be in good condition. Well if you are looking to get the best deal on the home as possible it would be wise to first get one done. Who knows you may be able to score the deal of a lifetime!
My name is Maurice “Moe” Bedard. I am the founder of America’s #1 Mortgage Forum, LoanSafe.org. My online work has been featured in the New York Times, LA Times, Fox Business, and many other media publications.