Between signing a contract and closing on a home, many buyers opt for a home inspection to ensure the property is in good condition and safe for its new owner. Here’s what every buyer and seller should know about the process:
What is a Home Inspection?
A home inspection is a professional evaluation of a home’s condition, covering its structure, roof, plumbing, electrical systems, HVAC, interiors, and more. Inspectors may also test for health hazards like mold, radon gas, lead paint, or asbestos.
Are Home Inspections Required?
While not mandatory, buyers often include inspections as a contingency in their purchase agreements. This contingency gives buyers the right to renegotiate or even withdraw their offer if the inspection uncovers significant issues. However, in competitive markets, some buyers waive inspections to make their offers more appealing. Alternatively, buyers may limit repair requests to major issues only.
Who Performs Home Inspections?
Home inspections are conducted by trained professionals, often certified through the American Society of Home Inspectors (ASHI) or the International Association of Certified Home Inspectors (InterNACHI). A REALTOR® can help buyers find reputable inspectors and recommend which types of inspections are most relevant.
Who Pays for the Inspection?
Typically, the buyer covers the inspection cost. Some sellers, however, choose to inspect their property before listing to address potential issues proactively. Sellers may also offer to pay for certain repairs or inspections as a negotiating tool.
Can Buyers Attend the Inspection?
Absolutely! It’s highly recommended that buyers attend the inspection. This allows them to learn about the home’s systems, see potential issues firsthand, and ask questions directly to the inspector.
How Long Does an Inspection Take?
A typical home inspection lasts two to three hours, depending on the property’s size and condition.
Common Issues Found During Home Inspections
Inspection reports provide a snapshot of the home’s current condition and may flag:
- Structural concerns (e.g., foundation issues)
- Drainage problems that could lead to structural damage
- Faulty wiring that could pose safety risks or disqualify the home from insurance coverage
- HVAC issues requiring repair or replacement
- Safety hazards like tripping risks or inadequate smoke and carbon monoxide detectors
What Does “As-Is” Mean?
When a home is sold “as-is,” the seller makes no guarantees about its condition and won’t commit to repairs, even if problems are uncovered during an inspection. While this can be a viable option for buyers, it carries risks that should be carefully considered with the guidance of a REALTOR®.
Why Home Inspections Matter
For buyers, inspections offer peace of mind by uncovering potential problems before moving in. For sellers, inspections can provide insight into their property’s condition and help them address issues upfront, making their home more marketable.
As always, practices vary based on state and local law. Consult your REALTOR® or a real estate attorney to understand specific requirements and recommendations in your area. For more information, visit facts.realtor.
