The sale of any property does not take place unless it has been inspected by a qualified home inspector. This could be any real estate property where the buyer needs to be absolutely sure about the condition of the property that he is buying. The buyer, therefore, hires a trained home inspector for carrying out the home inspection.
The things that the home inspector takes into consideration while inspecting the property include:
Heating and cooling systems
Plumbing
Electrical work
Water
Sewage
Fire and safety issues
Fire or water damage
Pest problems
How long does a home inspection take?
The time duration for the home inspection is agreed upon between the buyer and seller so that the buyer can carry out the assessment of the property after signing the contract or agreement. This duration can range from 1 to 30 days but it must be agreed upon by the buyer and seller at the beginning of the agreement.
The inspection period begins when the contract or agreement is signed. The buyer has to accept or reject the property within this time period. In case of rejection by the buyer, the seller gets 5 days to inspect the property that has been returned to him. The buyers and sellers should ensure that the time period is sufficient for the authentication or appraisal process (if required) before the agreement or contract is finalized.
How is a home inspection beneficial?
A home inspection is beneficial for both the buyers and sellers alike. If a seller gets the home inspection done before selling, they can increase the value of the property by making repairs and upgrading the systems. Similarly, if the buyer decides to get it done themselves, they can estimate the amount of money they would need for repairs or builder oversights or upkeep. Hence, the buyers are saved from a lot of hassle in addition to learning how much money they can save on buying a property.
Pro tip: If you have fixed appliances in your house like refrigerators or dishwashers and they have gone past their useful age, replacing them will certainly increase the value of your property. Generally, refrigerators last for about 10 to 15 years, and selling a house with one past that age will not sit well with the buyer if you’re hoping to get a good deal.
The procedure of home inspection:
Usually, the buyers hire a home inspector to assess the condition of the property they want to buy. In general, the buyers ask for a written report with the complete details of the property’s condition, the evaluation of repairs that are essential, or that need to be done, maintenance cost, and any other issue related to the cost of the property. The property is inspected thoroughly, from the foundations to the roof, including the structure of the house and its systems to ensure that the property is up to the code.
Inspection Contingency: The inspection is conducted when the buyer and seller have signed the contract or agreement. Hence, there needs to be an inspection contingency in the contract that gives the buyer time to hire an inspector (if inspection needs to be conducted), get the assessment of the property done, receive the report, and act accordingly. Hence, the buyer can make the following decisions based on the contingency report:
Consider the report approved and finalize the contract.
Not approve the report and not finalize the contract. Therefore, return the earnest money.
If needed, make a request for getting more time to inspect things for complete satisfaction.
Ask for a concession or request the seller for repairs to be made. In case the seller agrees, the deal can move towards finalization. In case the seller disapproves, the buyer does not finalize the contract and returns the earnest money.
Inspection Checklist: No house is ideal - even the ones that are newly built - but precautions can help in making a comparatively better decision. Therefore, you need to bear in mind the areas that need attention and prepare a checklist of what needs to be assessed or inspected. In order to assist you, several checklists (like this one), are available for you to get an idea of what the inspectors look for when they inspect any property. The following things are included in the checklist:
Ground, structure, and exterior:
Garages and/or carports
Exterior doors
Drainage, grading, plants and retaining walls
Wallcoverings, flashing and trim
Driveways, patios, and walkways
Balconies, decks, steps, porches, and railings
Eaves, fascias, and soffits (if visible)
Roof (chimneys and other penetrations e.g. skylights)
Downspouts and gutters
Interior construction:
Doors and windows
Garage doors and operators
Installed kitchen appliances
Walls, floors, and ceilings
Ductwork
Cabinets and countertops
Foundation
Fuel-burning fireplace and stoves
Plumbing:
Water heater
Dishwasher
Fixtures and faucets
Sump pumps
Sewage ejectors
Drain, vent, and waste systems
Electrical Installations:
Water heater
Fixtures and faucets
Sump pumps
Sewage ejectors
Drain, vent, and waste systems
Some inspectors may also provide some extra services although they are not included in the home inspection list. Furthermore, they may charge some extra amount for specialized tests of mold, or carbon dioxide testing, as they are pretty expensive to conduct. The extra services that may be charged (or may be complementary) include:
Rodents
Landscaping
Pests like termites and carpenter ants
Airborne hazards such as radon
Low-wattage electrical systems (alarm systems and phone lines)
Areas that aren’t easily accessible
Hence, the job of the home inspector is crucial in determining the value of the property that the buyer wants to buy and the seller wants to sell. They need to be very careful while inspecting the house otherwise if the buyer finds something odd and objectionable the whole deal will go down the pipe, and the sale will most certainly be jeopardized.
Conclusively, the home inspection can last up to 4 days maximum and a minimum of 2 days. But it entirely depends upon how big the house is, so make sure to check each and every corner so you don’t end up with more than you bargained for. Pun intended.
Author bio
Sarah loves to keep things organized and tidy. She really likes renovating and binge-watches informative videos for new ideas to make the house a cozier place to live in.
