I. Brokers
II. Contracts and Transfers
III. Mortgages and Foreclosure
IV. Deeds
V. Home Inspection
VI. Closing
VII. Glossary
VIII. Internet Resources

Home Inspections

A home inspection can relieve some of the stress of purchasing a house. Independent home inspectors can give a buyer a full assessment of the property he or she is considering purchasing. The inspector’s report provides a full and unbiased evaluation of the house’s condition and indicates whether the house needs any work or may need work in the future. Reviewing a home inspection report with a real estate attorney will provide a buyer with an advantage when negotiating the purchase.

Obviously, a buyer should inspect a house before making a decision. However, a professional inspection should be done to uncover less obvious defects. In many states, inspectors require a license. Appraisals required by lenders are mainly superficial, stating the property’s value compared to similar properties sold within mainly the past six months, and do take the condition of the home into consideration of the value. FHA and VA loans also require a third party appraisal, and will require that specific cosmetic and other obvious defect be repaired before completion of the sale. These repairs are considered as completed when assessing the value of the home by these government licensed inspectors. Appraisers do request or recommend additional inspections if they see problems that raise suspicion, such as potential structural defects or insect infiltration, such as termites. Termite inspections are mandatory for VA mortgages, and are extremely advisable on all others.

Home inspectors look at a number of things, including:

• Structural issues. These include the foundation, ceilings, walls, floors, and roof.
• Mechanical systems. These include the electrical system, plumbing and waste disposal, heating and air conditioning, water source and quality.
• Construction issues. These include ventilation, insulation, windows, and doors.

When inspectors discover problems, they may recommend a more thorough investigation. Buyers should also consider requesting inspection for health-related issues such as radon, lead, or asbestos. Many buyers prefer to attend the inspection, although this is not necessary. Many inspectors will answer questions about their findings and offer an objective opinion at the inspection.

Most often, home inspections are not done before completing an offer on a property, and the buyer should always include an inspection clause in the offer. This allows the buyer to back out of the purchase if an inspection reveals serious problems.  It can also require the seller to adjust the sale price or repair problems before purchase. The cost of an inspection is generally less than $500. It is well worth the price to disclose problems with the property’s value and safety. A real estate attorney can help to guide you through the inspection process.

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