Many homebuyers will opt to have a home inspection when purchasing a home since it is usually the largest investment made and it is typically done at the buyers expense. Occassionally, sellers will order a home inspection prior to marketing their property. This alerts them to problems which they can resolve resulting in a smoother transaction when receiving an offer from a potential buyer. Since more often than not, the buyer is the one who orders the home inspection, these questions and answers are written from that perspective.
What is a home inspection? It is an inspection of the major systems in a home taking into consideration normal wear and tear. Additionally, an evaluation of the structure to check for any structural defects will be performed. This should give the buyer a good idea of the general condition of the home.
What a home inspection is not:
- It is not an appraisal of value
- It is not an estimate of repair or replacement costs
- It is not a guarantee that the home is in compliance with local codes
- It is not a warranty should an item fail later on
- It is not an exhaustive evaluation but an evaluation of the property based ont he day the evaluation is performed
- It is not a termite or other pest inspection
Who can perform a home inspection? It is recommended to have a licensed professional in this field perform a home inspection.
Is a home inspection really necessary? Every buyer has the choice not to have a home inspection but since most buyers lack the skill and knowledge needed to inspect major components or structural components, it is prudent and wise to have the home inspected in order to determine if there are any adverse conditions that could affect the sale. Structural componets include floors, walls, roofs, chimneys, foundations, etc.) Major systems include plumbing, heating/air units, electrical, appliances, etc. Buyers should use a licensed Home Inspector. If there are other items of importance to the buyer, it is the buyer's responsibility to arrange for inspections of other items by the appropriate professionals.
Who sets up the home inspection and who pays for it? The buyer can schedule the home inspection or the buyer's agent (if buyer is under a brokerage agreement). The buyer is responsible for payment of the home inspection unless prior arrangements were made with other parties. Be sure to schedule the home inspection as soon as absolutely possible because there will be a time limit specified in the Purchase and Sale Agreement.
Who should be present during the home inspection? The buyer should be present whenever possible. Other parties associated with the sale of the home can also be available if they choose.
How soon will I get an inspection report and who does the report belong to? The home inspection belongs to the party who ordered and paid for the service. The Home Inspector should not share the report with anyone else without the authorized person's permission. Typically, a buyer will receive the report within three business days after completion of the inspection. You should read and understand the entire inspection report very carefully. If you have questions or feel something was missed in the inspection, immediately contact the home inspector.
After repairs are made upon the initial inspection, can there be a re-inspection? Yes but be aware that there may be an additional charge for a re-inspection and be sure to adhere to the timelines in the Purchase and Sale Agreement.
Donna Yates utilizes her corporate experience of 30 years combined with her Real Estate experience in order to help customers/clients with investment opportunities, second homes, vacation homes, meeting any real estate need. Donna contributes to several Web Blogs which focuses on the Blue Ridge Mountains, North Georgia Real Estate Market, as well as other topics important to North Georgia.
Visit my website: www.move2northgeorgia.net
Real Estate Clipart