A home inspection is a crucial part of the selling process for any piece of real estate. The larger and more complicated the property is, the more detailed this inspection must usually be. Typically, when an offer is presented on a property, that offer is subject to an property evaluation by a qualified home inspector. Once the property is duly examined, the inspector will make recommendations as to the condition of the residence in a customized report. The potential buyer will then decide whether or not to proceed with the purchase of the property, as planned, re-negotiate the offer or forgo the home altogether.
This editorial explains the value of a property inspection prior to closing any real estate transaction.
Home Inspection Criteria
A home examination should always be carried out by a qualified expert residential property inspector. In most states, and in many countries, this profession is tightly regulated by the government, with licensure and educational requirements in full effect. This is extremely advantageous to prospective buyers, since a home examination is a specialized service and does require a knowledgeable expert.
Inspectors are not supposed to recommend whether a purchaser should buy the house or not, but instead are there to reveal any problematic issues and allow the buyer to make up their own minds, as educated consumers.
Real Estate Inspection Focus
A home examination will look at all the important features of a property. The inspector will check the house outside and inside and pay particularly close attention to many of the utility systems in the home. A usual home examination will cover the following property attributes:
The roof and chimney will be subjected to visual inspection and any signs of damage or water infiltration will be noted.
The foundation of the home will be checked for cracks, pest infiltration and water infiltration.
The windows and doors will be tested for functionality and the general condition of interior and exterior portals will be assessed.
Water drainage and land grading will be investigated and reported to the prospective buyer.
The basement and attic will be visually inspected, humidity-tested and subjected to insect infestation evaluation.
All the living spaces will be inspected and assessed for any problematic issues that may exist.
Heating and cooling systems will be tested and evaluated for operating condition and efficiency.
Plumbing will be inspected and tested to ensure the pipes and fixtures are all operational.
Electric panel and fixtures will be tested for load capacity, safety and code compliance.
Home appliances will be evaluated to ensure proper operation and overall condition will be ascertained.
Structural integrity of the home will be rated.
Secondary structures on the property will also face tough critique, in much the same manner as the main house.
The utility services leading to the home, including sewers, electric and natural gas lines, might be subjected to inspection.
Home Inspection Conclusion
Agreeing to purchase a home without an inspection is like playing Russian Roulette. You might just be setting yourself up for a real disappointment and a possible financial disaster.
Some bargain properties are sold without express or implied warranty, also called “as-is” condition. These are “bargains” for a reason and unless you have access to professional contracting and home improvement services for a low cost, most of should be avoided like the plague, unless an ongoing project is expected by the buyer. A property inspector is another of the many safety nets built into the real estate buying process.
As a seller, it is your job to cooperate with the inspector and fix any issues which are found. If not, the word about the results of your inspection will make the rounds faster than lightning among local real estate agents, making the successful sale of your home at the current asking price a near impossibility.