Don't Buy a Home Without a
Home Inspection Report
A home inspection report delivers extremely important information to the potential buyer. Home inspections are similar to protection plans. They help protect you from buying a "money pit" property.
Investing in a home inspection is one of the most important steps in your home buying process. It benefits both the buyer in understanding the condition of the house and the seller who wants to provide accurate disclosure information about the house.
A home inspection report normally includes a thorough evaluation of the heating and central air conditioning systems, interior plumbing, electrical systems, the roof, attic, visible insulation, walls, ceilings, floors, windows, foundations, and basements. Some may also include appliances and outdoor plumbing.
The cost to receive a home inspection report on the potential home you plan to purchase varies on the area, size of the home, and services the home inspector is providing. You can expect to pay around $200.00 to $350.00 for a home inspection.
The inspector will make an Inspection Report, important in Real Estate transactions, as it is the only document detailing the home being bought and sold.
As the home buyer, we recommend that you are present for the home inspection. Your inspector will be able to answer any questions you may have about maintaining the house and discuss with you any potential problems.
Make sure your Realtor includes a proper home inspection contingency in your purchase agreement. If the inspector finds any major problems, you will need to negotiate with the seller to lower the price of the home or have the seller fix the problem(s). You are legally able to terminate your offer if the seller is not willing to re-negotiate on a lower price or fix recommended items.
WHAT ARE RE-INSPECTIONS?
When you have a re-inspection it means that your inspector will come back out the property to re-inspect the items that were repaired or replaced from the initial inspection. For example, if your inspector stated that the plumbing system in the home needed to be upgraded or repaired, you would need to invest in a re-inspection to make "sure" that the plumbing is satisfactory after the seller has completed the repairs.
If you are buying a new house you may want to consider an inspection at the time the foundation is poured, another when the walls are up but not enclosed and a final inspection before closing. You will be paying for each inspection but you will also know if the builder needs to make any changes along the way. Please don't assume that new homes don't need inspections. Builders and contractors can and do make mistakes during the construction phase.
Re-inspections usually don't cost as much as the initial inspection. For example, if your initial inspection cost $250 then your re-inspection may only cost $125. If your potential home will need costly repairs you really should invest in a re-inspection before you agree to purchase the home. You don't want to have the liability of repairing faulty, costly items after your purchase.
Home inspections in some states are optional. You don't have to have a home inspection to purchase a property. However, we STRONGLY RECOMMEND that you protect yourself (and your money) by investing in a home inspection report. A home inspection is an upfront investment. You will not get your money back even if you decide not to purchase the home. However, losing a few hundred dollars is nothing compared to buying a money pit!
Keep in mind, however, that home inspections are not a warranty or guarantee of the home. But, trained professionals are able to see things that buyers cannot see or have knowledge about. Therefore, find a trusted, recommended home inspector to inspect your property and provide a detailed home inspection report before you agree to purchase!
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