Home Inspections

Assess accurate value with a home inspection

Whether you are selling your home, buying, or refinancing, a home inspection provides valuable information to help you close the deal. Because many states may offer limited regulation of building inspectors, ask for references. If you´re working with a real estate agent, they may provide the names of several good home inspections services. A building inspection should take from 3–5 hours and the inspector should provide a detailed written report. Ask your home inspector about his credentials, training, and licensing. Last, but certainly not least, check with your inspector to see if he carries Errors & Omissions insurance. If he overlooks a problem, he´ll be covered and so will you.

Ready to Sell?

Consider hiring a home inspection service when you first decide to sell your home. For a modest charge of between $200–400, a home inspector will go through your home and create a list of projects that will need to be addressed before a sale is likely to close. This is particularly helpful if you want to list your home and sell it quickly. If you choose not to make the corrections, you can at least price your home accordingly.

Buying a Home?

Home inspections are often required by mortgage lenders before a sale can be completed. Before you finalize the purchase, you need to know the condition of the home´s major systems so you can avoid moving in and being hit with huge repair bills. Homeowners may make changes to their homes that should have been approved by local building authorities, but weren´t. Substandard electrical or plumbing changes are not only a financial issue, they also pose a safety hazard and need to be corrected before the sale is completed. If there are problems, most real estate contracts allow you to back out without penalty.

Ask your lender what type of licensing the home inspector should have. They may require a licensed professional especially if a structural inspection is required.

Refinancing?

Before you refinance, your mortgage lender will most likely require a building inspection to make sure the home is in good repair and meets all relevant building codes. Have the building inspector provide a checklist of any potential problems he spots. You can use the checklist as a maintenance list for new projects and head off problems before they get too big.