The Home Inspection, What it Covers
Email To Friend | share this article | Posted by Anna on July 1st in General.
When purchasing a building, a home inspection is recommended to protect the buyer. The buyer is normally expected to cover the expense. A non-biased third-party is hired to thoroughly inspect the property, and then present their findings to all parties involved in the process. Buyers can use this report as bartering power, requesting the seller fix the problems as part of the deal. However, unless the buyer contractually negotiates it, the seller is not required to fix anything found by the inspector. The buyer just has to be made aware of the problems, and it is up to them to make an informed decision based upon the knowledge.
Each state varies, but in many, the inspector is held liable for any serious problems he or she missed for up to one year. This liability encourages the inspector to be vigilant in the inspection, and is in the buyer’s best interest.
The typical home inspection includes: testing all electrical outlets and fixtures, inspecting the plumbing in the kitchens and bathrooms, inspecting all appliances, any gas fixtures, the fireplace, the chimney, and the foundation, detecting any insect and rodent problems, highlighting any obvious signs of water damage, and assessing the overall condition of the house from the roof to the basement.
If you are purchasing a building, it is definitely in your best interest to invest in a home inspection. The average cost equals $350, and has the potential to save you thousands in unseen repairs. It also helps to have a contractor give you an estimate for any renovations ahead of time as well for a truly informed decision. Request free estimates from licensed pre-screened contractors in your area today.
July 2nd, 2008 at 10:59 am
I think that you covered the topic pretty well, but I would clarify one point. The person who pays for my report is the person who owns the information that I found. There are some cases where they do not want to share my findings with the other parties involved. I have to abide by that fact. Although it might be wise to share what I discovered, so possible repairs could be discussed, some people have their reasons for keeping it to themselves.
July 4th, 2008 at 3:00 pm
Hi Frank,
Thank you for reading. A very good point, and one realtors should respect as well. If you have any other insights that I overlooked, I’m sure our readers would greatly benefit from an expert’s opinion.
July 14th, 2008 at 8:20 pm
Hey
I really enjoyed reading your blog. I was searching for real estate relevant sites when I found your blog, in fact I had been searching for a company to do a home inspection for me and I found a great company called http://www.homeinspectionspecialist.com ,much the same way as I found your site. Anyways they inspected my new house before I bought it and I found out a lot of things about it that I would have not known without the inspection. In fact their inspection report help me get over $40,000 off the asking price. I look forward to all the updates. Thanks again,
Jessica
July 15th, 2008 at 11:56 am
Hi Jessica,
What a great follow-up story; thanks for sharing. That reaffirms the importance of finding an inspection company you can trust as well. Thanks for reading!
Anna