The Home Inspection

The home inspection is designed to help you discover problems that may exist in the house you are about to buy that require a trained eye to recognize. During a home inspection, a professional inspector will come in and look over the house in detail. These will include the roof, the foundation, the windows, is there any wood rot, plumbing and electrical systems, heating and cooling systems, the presence of fire alarms, whether or not your house has lead paint, radon levels, and the overall interior.

As a buyer, the home inspection also represents a major opportunity. When the inspector is checking out the home you want to buy, walk with them, and bring a notepad to take as many notes as possible. The inspector can teach you the basics of your heating system, your electrical system, your plumbing system, and more. They can help you understand better what is needed to take care of the house, how long it might be before it will need to be painted, how long before the roof needs to be replaced, and many other such issues. So in addition to helping you find problems, you can learn many things about the house that can save you a lot of time and money after moving into it.

After the inspection, the inspector will provide you with an inspection report. Expect the inspector to find things that they suggest you get the seller to fix before the closing. No house is perfect. Take the opportunity to get these things resolved, as it will be one less thing for you to do after you move into the house. You will have enough to do as it is.

The inspector may also find much more serious issues that the seller cannot fix before the closing. An example of this might be a roof that needs replacing. If this happens, you may find that you need to exercise the right to terminate the agreement to buy the house. Obviously, this is a drastic step, so make sure you are making the right decision. An alternative is to offer the seller a lower amount of money, basically, to give you enough extra money after buying the house to make the repairs yourself. In addition, take great care if you decide to terminate - the seller has the right to repair any problems found in the inspection - make sure you give them that opportunity of you could forfeit your deposit.

Most of the time, the inspection goes smoothly, and the seller ends up with a few smaller issues to repair. Plan on taking advantage of the inspection, and treat it as an opportunity to learn about the house you are about to buy. The inspector is an expert on houses - so take advantage of it!

If you have not yet applied for a loan, make sure you consider offers from multiple lenders. Online services offer simple forms to get quotes from up to 4 lenders. Getting multiple loan rate quotes improves your chances of getting the best possible rate.