The Home Inspection
A home or "structural" inspection is always done at your option and your expense. The purpose is to identify unseen problems such as the presence of asbestos, lead paint, plumbing and electrical code violations, heat and hot water malfunctions, and the like. In addition, it can be a valuable educational experience for the first time home buyer as many inspectors take the time to provide valuable maintenance suggestions. Unless you’re buying new construction, you should very seriously consider having a home inspection for your own peace of mind.How do you find a good home inspector? Again, referrals are probably the best way, but there is a catch. Your Real Estate professional can not refer you to a home inspector unless they are acting as a buyer agent. A seller agent can provide you with brochures from the various local inspectors or refer you to the Yellow Pages, but to do more may constitute a conflict of interest.
As with everything else, price should not be the driving factor when choosing a home inspector. Ask questions. Make sure you’re comfortable that your issues and concerns will all be addressed to your satisfaction. When you schedule the home inspection, make sure you do so at a time when you can be there to follow along and listen, even if that means scheduling it on the weekend. Inspectors will all give you a written report, but there is much that is said in the course of any inspection which will never make it to the document form.
One final note: Don’t confuse the appraisal with the home inspection. Your lender will order an appraisal (which you will pay for) to assess the market value of the property. An appraiser will look and take pictures, but they will not inspect or touch anything. A home inspector, on the other hand, will flush the toilet, run the shower, test the furnace and radiators, and so forth. If they find a hidden problem, their inspection provides you the legal protection to have the problem corrected or to back out of the deal. The home inspection should take place within ten (10) days of the fully executed Purchase and Sale contract (P&S), but it is best to schedule it as soon as possible, even prior to signing the P&S.