|The Different Types of Home Inspections
Home inspections are a common source of confusion for first-time home buyers, because there are several different types of inspections that can take place. Here is an overview of the most common types of inspections you could encounter during the buying process.
Pre-sale Home Inspection
The pre-sale inspection is done by the home sellers prior to putting their home on the market. Sellers gain peace of mind by investing in a thorough certified home inspection prior to putting a house up for sale. Having a pre-sale inspection will reveal potential issues that need fixing and give the seller opportunity to fix these prior to going on the market. Sharing this with a prospective buyer shows the sellers are being pro-active and transparent about their home’s condition. The last minute discovery of problems by a prospective buyer can lead to time delays, added expenses, and end the transaction altogether. As a seller, you can help the transaction move more swiftly and lesson any challenges along the way.
Primary Home Inspection
When you hear people talk about a “home inspection,” they are generally referring to the primary inspection that is conducted for a buyer by a licensed home inspector. It’s always a good idea to have a property professionally inspected before buying it.
The inspector will examine the home’s foundation, roof, electrical system, installed appliances, heating and cooling systems, and overall condition. When he’s finished, he will give you a detailed inspection report that explains his findings.
Keep in mind that when you buy a house, you are generally buying it in “as-is” condition (unless specific provisions are added to the contract saying otherwise). For this reason, you want to make sure you know what is, and is not, working in the home. You’ll also want to know what repairs might be needed, and how much they might cost. For all of these reasons, the primary home inspection is essential.
Home Appraisal / Appraiser’s Inspection
If you are using a mortgage loan to buy a house, your bank or lender will send a licensed home appraiser out to evaluate the property. The appraiser is primarily concerned with the market value of the home. He will also examine the overall condition of the property, as it relates to the value.
Final Walk-Through Inspection
Home buyers typically perform one last inspection near the end of the real estate transaction, just to make sure the house is in the same condition it was in when they agreed to buy it. During this final “walk-through,” as it is known, you’ll want to ensure that everything is in working order, and that the house has not been damaged in any way since you first signed the contract.
As each inspection takes place, keep in mind that no home is perfect. You’ll need to weigh the pros and cons of every house in order to make the right purchasing decision.
You can expect a number of inspections to take place during your home buying process. Most of these inspections are for your benefit, as the home buyer, so you need to take each inspection seriously and consider the outcome carefully.