5. Home Inspection
- A typical Purchase and Sale Agreement will list a deadline date for a home inspection to be completed by a licensed professional. You will hire and pay the inspector. You should try to attend the home inspection. A home inspector will point out items as he or she goes through the house, little things of interest that may not necessarily have to go into a report. I attend the home inspection to unlock the door for the inspector. I am not a party to the home inspection. Any questions regarding the inspection should be addressed to the inspector. Please remember that home inspectors cannot see inside walls or inside plumbing. They only comment upon what they examine with their eyes. Home ownership is filled with little surprises and sometimes big surprises. It's part and parcel of home ownership. Be aware of this.
- A few days following the inspection, the home inspector will issue a report outlining his or her opinion of the condition of the property. The report usually is divided into two parts: issues noted that affect Health and Safety and other issues noted.
- If your loan program does not require a home inspection, then the home inspection is for you only, not for your lender.
- When you get the report, you'll want to talk with me about repairs. We will compile a list of "fix its" based on the home inspection report and submit this list to the seller. Normally all Health and Safety items make the list, and maybe a few in the other category. If you'd prefer the seller not make repairs, but instead pay some of your closing costs or change the purchase price, that may be possible.
- We will probably want to have a mechanical inspection done, too. This inspection is performed by a licensed technician who inspects the heating system and the water heater. He or she gives you a report, too.
- What is a Home Warranty? A home warranty provides coverage for homeowners when their home's mechanical systems or appliances break down due to normal wear and tear. The plan covers the cost of repairing the system or appliance, less the applicable deductible.