In the process of buying a house, the buyer usually hires a home inspector to come to the property to perform a visual assessment. In compliance with the state’s standards, the home inspector often identifies mechanical, safety or health issues.
This article describes in detail all you need to know about home inspections –both as a buyer and as a seller.
What is a Home Inspection?
A home inspection is an examination of the condition of a home, which is usually in connection to the sale/purchase of that home. Home inspections are usually performed by a home inspector who has been trained and certified to carry out such inspections. After performing these inspections, he prepares and delivers a written report of his findings to his client. This report helps the client to make better and well-informed decisions about the pending purchase of the home. The home inspector only describes the state of the home at the time of inspection but does not guarantee the future condition, life expectancy or efficiency of components or systems in the home.
A home inspection properly observes and reports on the condition of a property, usually when it is up for purchase. A certified home inspector accesses the condition of the property, including the electrical work, heating and cooling systems, water and sewage, plumbing, fire and safety issues. The home inspector also looks for evidence of water, insect, fire damage or any other thing that may affect the value of the property.
Home Appraisal vs Home Inspection
A home inspection is not the same as a home appraisal. Home appraisal is usually required and scheduled by the seller to determine the value of a property. This means that while a home inspector determines the condition of the home, a home appraiser determines the value of the property. However, home inspection is usually one of the variables considered when valuing real estate for investment purposes.
When does a Home Inspection happen?
Home inspection usually happens when the sale of a property is about to take place. In a home sale or purchase, there are two types of home inspections: a seller’s inspection and a buyer’s inspection.
A seller’s inspection (sometimes called pre-listing inspection) happens before the home is listed for sale. Some sellers get their home inspected in order to discover and fix potential issues beforehand as this saves time in the closing process.
A buyer’s inspection occurs after the buyer has made an offer for the property, just before closing the sale. After the home inspection, the buyer may request for a renegotiation or repairs if certain issues were discovered during the inspection.
What should a buyer know about Home Inspection?
As a home buyer, a home inspection is usually the last chance to discover defects and other issues with the property. You can get the seller to pay for repairs or request a renegotiation if certain issues are discovered. When buying a home, here are the things you need to know about the home inspection process.
How do I hire a Home Inspector?
As a home buyer, you will need to hire a home inspector. Even if the seller claims that the house has been inspected or offers to share their home inspection report, you will want to arrange your home inspection in order to verify the inspection yourself. Picking the right home inspector is very vital. There are some pointers to consider when hiring a home inspector.
A good place to start is to seek recommendations from friends and colleagues. You can also search the databases of professional associations, such as the International Association of Certified Home Inspectors and the American Society of Home Inspectors. These organizations usually require its members to complete continuing education, pass an examination and honor a code of ethics. You should also check with your local bureau to see if the home inspector has any previous record of complaints.
In your search for a home inspector, look for a company that is insured and bonded. You should also verify that the company only specializes in inspections and not home renovations or repairs. This is because there might be a bias while filing the home inspection reports. In addition, find out what home inspection includes and how long it takes.
It is considered best practice to interview potential home inspectors about their areas of expertise, work experience and training. This could be important if you want to get a property that is uncommon. You should see if you can find a home inspector with experience in the kind of home you wan to buy.
You can ask for references from prior clients to determine if any issues that occurred during inspection were not properly documented. You can also request for samples of prior reports to determine if they are comprehensive reviews or just simple checklists. This way, you will know if you are paying for detailed information or a quick report.
What Questions do I ask a Home Inspector?
After the home inspector has looked at the home you intend to purchase, you might want to ask some questions. Below is a list of questions you can ask your home inspector before and after the inspection:
- How much will the home inspection cost?
- How will the home inspection be done?
- What will be covered during the home inspection?
- Can you explain this and that to me?
- Would I need an expert to take a look at this issue?
- Can you advise me on things I should fix when I move into this property?
- Is this problem common in most homes?
- How big of a problem could this be?
A good home inspector should be willing to explain their observations. It is recommended that the buyer attends the inspection so they can explore their potential home and ask specific questions. This can give you more information that the report alone.
What do Home Inspectors Look For?
According to the American Society of Home Inspectors (ASHI), here is a full list of what the inspector will review:
- Central Air Conditioning System
- Heating System
- Roof
- Interior Plumbing
- Electrical Systems
- Walls
- Floors
- Ceilings
- Doors and Windows
- Basement
- Foundation
- Structural Components
- Attic
This does not mean that the home inspector will tear your home to check the pipes and wires but a thorough assessment will ensure a comprehensive report.
What should a Seller know about Home Inspections?
As a seller, you want to know what the home inspector will look out for so you can be prepared adequately for their visit. This section details everything you need to know so that everything can go as smoothly as possible.
How do I prepare for a Home Inspection?
The major rule for every home inspection is to never conceal any defect in your house that you are aware of. The home inspector will find out and you might be breaking the law. In order to make the whole process as smooth as possible, you should provide quick and easy access to everything on the checklist. Here are some ways you can ensure this:
- Tidy up your basement and your attic.
- Turn on your pilot lights for furnaces and fireplaces so that the home inspector can check the heating systems.
- Leave keys and label where the home inspector can find them.
- Clear any obstruction to your attic or basement.
- Clean up important areas in your surroundings so that the inspector can access drainage points, septic tank or your crawl space.
- If you have vacated the home and the utilities have been disconnected, have them reconnected.
- Remove items away from the walls so the inspector can check for cracks and areas where water can penetrate.
- Remove items from the closet so the inspector can check inside them.
For a smooth home inspection, it is important that your house does not have any glaring defects.
Pros and Cons of Pre-Listing Home Inspection
Sellers often carry out home inspections before listing their homes for sale. This often gives them an extra control over the sale as they know beforehand potential issues in their houses and can fix them. The expense is minimal when compared to dealing with problems you were not aware of. Pre-listing inspection has its pros and cons which we shall examine below.
Pros
- Pricing of the home is made much easier.
- Repairs and renovations can be made beforehand.
- Helps to improve the confidence of the buyer.
- You find out the present condition of your home.
- Make your real estate agents’ job much easier.
Cons
- You will have to incur the cost for the inspection.
- You might be required to disclose issues due to disclosure laws.
- There will be two inspections of your house.
What Home Inspection issues should I know about?
Your home does not need to be perfect before a reasonable buyer will agree to purchase it but there are some issues that could hinder the sale of your home. Some of these issues when discovered by the house inspector could bring an end to negotiations. These issues include:
- Structural problems.
- Water and drainage issues.
- Wall cracks.
- Wiring and electrical issues.
- Plumbing issues.
- Lead paint.
- Bad roof.
- Insects and pests issues
How long does Home Inspection take?
Home Inspection will take between two to four hours depending on the size and state of the building. It also depends on the thoroughness of the home inspector as well as the degree of cooperation of the owner when preparing for the inspection.
What is included in a Home Inspection Report?
A good home inspection report is very extensive and comprehensive. It contains checklists, photographs, summaries and notes. It can also contain information about recommended repairs and replacements as well as an estimate of the remaining useful life of major equipment and systems.
Conclusion
Home Inspection is very vital and necessary in the process of home-buying. It is not recommended to skip home inspection.
As a buyer, keep an open mind when it comes to home inspections. Always ask questions on things you are unclear about and do not be afraid to get the answers you deserve.
As a seller, do your part to cooperate with the home inspector during the inspection process. Be kind and thoughtful and it would be wise not to hide any known issues or defects with the home.
If you are looking for a home inspector in Schaumburg look no further than The HouseDoctors! Contact us today to learn more.
