5 Tips for Buyers to Have a Successful Home Inspection

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Throughout the homebuying process, you will encounter a number of expenses including, but certainly not limited to, an appraisal, transaction fees and a survey – but none is more important than the home inspection. Dollar for dollar, there is no better use of your money, as a home inspection will not only outline the strengths and weakness of the house you are buying, but will show you how to operate it.

Choosing the Right Type

When you sit down with your real estate agent to prepare your offer, he or she will go over the different types of inspections you can choose from. While there are different inspection options – radon, pest and mold, among others – you first want to steal with a standard home inspection.

There are primarily two different types of home inspections – the home and general inspection (the names may differ depending on your location). There’s no difference in the way the inspector approaches the property or with the report he generates – it’s how that information is used that makes it unique.

A home inspection is arguably the more classic option. Based on the report you receive, you will send a notice to the seller asking for either certain items to be fixed prior to settlement, or a dollar amount be credited toward your closing costs.

The general inspection, on the other hand, is for informational purposes only. While it allows you a full inspection and often gives you the right to walk away based on those results, it does not provide an opportunity for items to be fixed or a credit given in negotiations.

 

Choosing Your Inspector

Every individual involved in the homebuying process must be top-notch. This is likely the biggest investment of your life and understanding what you are getting yourself into is of the utmost importance. With this in mind, be sure you choose a tried and true inspector you can trust to overlook nothing and provide your report in a timely, organized manner.

The first person to talk to for referrals is your real estate agent. Most agents have likely encountered the good, the bad and the ugly of the home inspecting world and found a few professionals they trust. Make sure your inspector is actively licensed and a member of a trade association, like the National Association of Certified Home Inspectors or American Society of Home Inspectors, and other local professional groups. Members of professional organizations are often held to a higher standard and have gone through more rigorous training to be associated with an industry group.

Finally, ask if the inspector will allow you to see a sample inspection report. While you’ll receive all the information during the time of the inspection, the sheer amount of details can be overwhelming. Seeing a report in advance helps to prepare you for the information to come, and how it can be used as a negotiation and recordation tool as well.

Owner’s Manual

Whether this is your first home or 10th, each house offers its own quirks and there’s no owner’s manual provided. It’s highly recommended you attend the inspection, as the inspector will provide useful information throughout the process of not only the pros and cons of the property, but show you how everything works as well.

An inspector will give you a plethora of information, from which way to point your air filter to where the main water shutoff valve is and how old all your major systems are. While the age and condition of many systems and appliances will be noted in the report, an explanation of how to use everything isn’t standard in written form. Bring a notepad and jot down useful information throughout the process.