Buying a home is probably the single most significant investment you’ll make in your lifetime. When you’re making such a significant purchase, you want to know exactly what you’re getting.
This is the goal of a home inspection. A professional inspector will review the home and point out any potential concerns. Here’s how it works.
1. Arrange for the inspection: Typically, you will include an inspection contingency as part of your offer to purchase the home. This contingency will allow you to order an inspection (at your expense), then determine if you would like to proceed with the purchase, based on the results.
2. Complete the inspection: You should be present during the inspection so the inspector can review any items of concern with you in person.
He or she will inspect all the home’s systems, structural components, and general condition and provide a report that notes any areas of concern.
3. Request repairs: You’ll review the inspection report with your real estate agent and decide if there are any items you would like the seller to address. You can request that the seller make the repairs or provide a credit to cover their cost.
Typical things to address are safety concerns and anything that is not up to code. If the sellers refuse to negotiate, you can decide whether you want to move forward with the purchase or move on to another home.