Home Inspections

Why Home Inspections Are Necessary

Home inspections are essential for several reasons:

• Identify Hidden Issues: Even if a home appears to be in great condition, there could be underlying problems that are not immediately visible or noticeable to the untrained eye.

• Informed Decision Making: A thorough inspection report provides you with detailed information about the property's condition, helping you make an informed decision about whether you want to move forward with purchasing it.

• Negotiation Leverage: If significant issues are found, you can use the results of your inspection to try and negotiate repairs or a price reduction with the seller.

• Peace of Mind: Knowing the true condition of the home gives you confidence in your investment.

Common Issues Found During Inspections

During a home inspection, several common issues may be discovered, including:

• Structural Problems: Foundation cracks, roof damage, and other structural issues.

• Plumbing Issues: Leaks, outdated piping, and water pressure problems.

• Electrical Concerns: Faulty wiring, outdated electrical panels, and insufficient electrical capacity.

• HVAC Systems: Malfunctioning heating and cooling systems.

• Pest Infestations: Evidence of termites, rodents, and other pests.

• Mold and Mildew: Signs of water damage and mold growth.

How to Choose a Qualified Home Inspector

Selecting a qualified home inspector is crucial for a thorough and accurate inspection. Consider the following when choosing an inspector:

• Certifications and Licenses: Ensure the inspector is certified by a reputable organization, such as the American Society of Home Inspectors (ASHI) or the International Association of Certified Home Inspectors (InterNACHI).

• Experience: Look for inspectors with extensive experience in the industry.

• References and Reviews: Ask for references and read online reviews to gauge the inspector’s reputation.

• Sample Reports: Request a sample inspection report to understand the level of detail provided.

The Home Inspection Process: Step-by-Step

Understanding the home inspection process can help you know what to expect. Here’s a step-by-step guide:

1. Scheduling the Inspection: Arrange for the inspection as soon as possible after your offer is accepted, especially if your home inspection contingency deadline is short. Remember that some inspections, like a mold test, can take longer to get on the schedule and longer for the results to be returned to you, so plan accordingly.

2. Attending the Inspection: It's beneficial to be present during the inspection to ask questions and see any issues firsthand. But if you can't, make sure you hire an inspector who is willing to discuss the results with you afterwards and provide plenty of photos.

3. Inspection Duration: A typical home inspection takes two to four hours, depending on the size and condition of the property. Specialized inspections can take longer or require multiple visits.

4. Inspector’s Evaluation: The inspector will evaluate the home’s structure, systems, and components, including the roof, foundation, plumbing, electrical, and HVAC systems. However, keep in mind they cannot inspect what they cannot see, including things hidden behind walls or furniture.

5. Receiving the Report: After the inspection, you will receive a detailed report outlining the findings, including photos and recommendations for repairs or further evaluations. Make sure to thoroughly review it, and ask your inspector if you have questions or need them to add anything additional to the report.

Interpreting the Home Inspection Report

The inspection report can be lengthy and detailed. Here’s how to interpret it:

• Summary Page: Focus on the summary page for the most critical issues.

• Major vs Minor Issues: Differentiate between major structural or safety issues and minor maintenance concerns.

• Recommendations: Pay attention to the inspector’s recommendations for repairs or further evaluations.

• Homa Assistant AI: Use Homa’s AI assistant to analyze and summarize the inspection report, helping you understand the key points and implications.

Negotiating Repairs or Price Reductions

Based on the inspection report, you may need to negotiate with the seller. There are a few ways you can ask for compensation based on the findings, including:

• Request Repairs: Ask the seller to make necessary repairs before closing. Some repairs may be required for you to get insurance and other repairs may be more expensive than the seller could credit you for, so make sure you consider if there are big enough repairs that you want the seller to make before closing.

• Price Reduction: Negotiate a lower purchase price to account for the cost of repairs. If there are large, expensive repairs, this could make a difference to your bottom line. But if you are getting a loan, consider that having more money in your pocket in the form of a closing cost credit might actually make more financial sense for you.

• Credits at Closing: Request a credit at closing to cover repair expenses. Just make sure you confirm with your lender that you can take advantage of the full credit, as different loan types cap how much you can receive from the seller, and you can't receive more than your total closing cost amount.

Final Walk-Through

Before closing, conduct a final walk-through to ensure all agreed-upon repairs have been completed and the property is in the expected condition. This step helps confirm that there are no new issues since the inspection. If you need additional help on what to look for or how to approach the final walk through, check out our helpful guide.