The home inspection is a crucial step in the home buying process. After finding the perfect house, you will want to ensure that there are no hidden faults that may require lengthy and expensive repairs or renovations down the line.
To prepare you for this process, here are the top four things you need to know:
- The buyer is responsible for the inspection. Make sure you give yourself ample time to find a reputable, certified home inspector by asking for referrals from your real estate agent, friends, and family and do your research online. Plus, don’t forget to factor in the cost of the inspection into your budget.
- Home inspectors are usually generalists. They will evaluate most areas of your home, such as the foundation, basement, plumbing, electrical systems, heating and cooling systems, walls, floors, ceilings, and attics. But, if your home is equipped with special features, like a pool or chimney, you may need to hire a specialist.
- Buyers can attend the inspection. In fact, a lot of inspectors suggest it! This is an opportunity for you to get any outstanding questions regarding the condition of the house you are purchasing answered.
- You have options if the inspection uncovers a problem. If the problems discovered are serious, like structural damage or safety issues, the seller could be required to fix them. You also have the option to back out of the purchase without facing any consequences. If the problems are smaller, you can submit a formal request for repairs and negotiate for them to be fixed, or for the seller to cover some or all of the cost.