In my last blog post, I provided information about what to expect from a home appraisal. Sometimes people get home appraisals and home inspections confused, so to clarify, here are some considerations that you will want to take into account when you order a home inspection for your new house. It's also important information for anyone selling a house, as the types of things a home inspector examines should be addressed and if necessary, repaired or replaced ahead of time so that there are no surprises – particularly expensive ones – when the inspector delivers his or her report.
Unlike an appraisal, which determines a home's value, an inspection is actually a more comprehensive assessment of a home's condition, and it requires a more thorough investigation. Although an appraiser will look at the overall condition of your house, he or she doesn't get into the nitty gritty. So while a collapsing roof or a giant crack in the foundation may be a red flag to an appraiser regarding a home's general condition, an inspector will take an investigation to the next level.
Don't worry about your interior decorating or cleanliness during an inspection. A buyer has already looked past anything cosmetic when deciding to make an offer. However, you should be concerned about the functionality of systems like heating and air conditioning, plumbing, and electricity. An inspector will verify whether these systems are up to code. The inspector will also conduct a thorough examination of the structure of the home, including the exterior, roof, basement, attic, decks or porches, garage, and even the driveway. His or her job is to inform the buyer if anything looks like it will need imminent replacement or repair after closing.
Inspections also involve the detection of potentially hazardous substances such as mold, radon, or carbon monoxide. Other concerns might include termite damage, the presence of asbestos or lead paint, and evidence of any other hazardous building materials or methods that could pose a danger to residents. Depending on your location and the desire of the buyer, additional inspections might be ordered for a property to determine the soundness of a swimming pool, septic system, or well; soil and water on the property; or the chimney.
While it is generally a courtesy for the seller to leave the house during the inspection, buyers will want to attend the inspection in order to ask clarifying questions and learn any important facts or idiosyncrasies about the home. The buyer's real estate agent should also attend to help streamline the process and take into account any results that might alter the terms of the sale.
Whether you are buying or selling, as always, your agent can be your guide during the inspection process and can advise you in the event that the inspection turns up any concerns that need to be addressed. Agents have the resources to locate a licensed home inspector and make certain that the inspection is carried out professionally. If you have any questions about the process, just ask your agent.
