What Is Included In a Home Inspection?
When a home is sold, it has a significant impact on both parties, so it is important that the process go as smoothly as possible. One aspect of that is having a home inspection done. The results of the inspection can have a significant impact on the finalization of the transaction. And here are the things you need to know about home inspection.
Buyers generally pay for the home inspection though they may successfully negotiate this point with the seller on this point. In some cases, the seller may have taken the initiative and had one done. There are times this can be beneficial for the seller.
When a seller has assumed responsibility prior to having a potential buyer, it provides them the opportunity to know about any needed repairs without a sale hanging in the balance. Because these types of expenses and delays often result in the buyer attempting to renegotiate the price or even change their minds, these repairs can cost the seller even more. Fixing the problems without a sale on the line allows the seller time to get them fixed at a reasonable rate.
However, not all sellers do this. In most instances the buyer pays for the inspection. For them, it allows them peace of mind that all needed repairs have been done. In many cases, the bank or lender will require an inspection. Once a buyer is seriously interested in purchasing a particular home, having a home inspection is the next logical step.
There are several aspects of the home that are inspected in order to ensure that the space is safe and livable. The official report will list any damage to these areas. This data can be used for the seller to make repairs. In some instances, the negotiations may include a reduced rate on the property in exchange for the buyer making the repairs themselves.
The roof is one of the most important aspects of a home inspection. Damaged roofs can lead to many problems and should be repaired immediately. The general structure of the building is also a part of the home inspection. This can include the walls and foundation.
The exterior and interior of the building are included in the inspection. Signs of damage including the materials and the paint are noted. Wood rot or other signs of neglect will be added to the final inspection.
The home inspector will also check the utilities. The electrical system and the general plumbing will be examined for signs of danger. Poor wiring or leaky fixtures will need to be addressed. The heating and cooling systems of a home are generally part of an inspection as well. Proper functioning, including duct and vent operations will be examined thoroughly during the examination.
For buyers and sellers, having a home inspection is vital to the entire process. It can provide both peace of mind in the transaction. When it is done and who pays for it depends upon a variety of factors. Either way, the required inspection allows everyone to walk away a winner.