A house inspection before purchase is important because it can prevent unpleasant surprises down the road. A home inspector will note any damage or wear on a house, no matter how minor. The buyer may then use this information to negotiate the price of a house.

Sellers must disclose certain details about their property before putting it on the market. Most buyers make their offer contingent on the results of a professional home inspection.

Cost

It’s up to the individual inspector how they set their fees, but most charge a flat fee per square foot and add on for additional inspection services such as radon, mold, and water testing. A pre-inspection can be a good way to understand what you’re getting yourself into before you sign on the dotted line. It could also give you more negotiating power if problems come to light.

Some sellers opt to have a home inspection done before putting their homes on the market, which can help them realistically price their properties and address any issues that might discourage buyers. Having an official, third-party assessment of a property can also make it easier for agents to show the home without worrying about revealing potential problem areas. It can also save the seller the expense and hassle of back-and-forth re-negotiations or 11th-hour re-inspections. The seller can then offer to pay for the costs of any major repairs or renegotiate the sale price.

Convenience

A home inspection takes two to three hours and costs $300 or more, depending on location, size of the house, and age. Unless you’re on a tight budget, it’s worth the investment.

The inspector will then provide a written report of their findings, which can help you make an informed decision about the property. They will usually include pictures of any damage or issues they find, as well as a summary and table of contents. You can also ask the inspector to highlight specific areas of concern.

If the inspection reveals significant problems, you may have to disclose these under your state’s disclosure laws. This could limit the pool of potential buyers and affect the selling price of your house. Many homeowners prefer to accompany the inspector during the inspection, which allows them to see and ask questions in real time. It can also help them get a better sense of which items are serious and which are relatively minor.

Inspection Report

A home inspector checks the roof, plumbing and electrical systems, foundation, windows, doors and cabinets. He also inspects interior walls, ceilings and floors, and looks for signs of infestation and water damage. He will usually examine the attic and crawl spaces as well.

If major problems reveal themselves, a buyer can ask the seller to make repairs or reduce the sale price. In some cases, a home inspection can save buyers thousands of dollars in unexpected costs.

On the other hand, a seller may not have the money to cover repairs that are uncovered by a home inspection. Some sellers will even refuse to allow a pre-inspection, since they’ll be required to disclose any issues with the house as part of state disclosure laws.

Inspection Contingency

An inspection contingency allows buyers to conduct home inspectors within a specified timeframe and gives them the option to request repairs or withdraw from the sale if significant problems are discovered. It also gives buyers leverage during negotiations and can help them avoid purchasing a property with costly hidden defects.

Some buyers choose to waive the inspection contingency as a way to make their offers more appealing to sellers. However, this could backfire in a competitive market.

Buyers who include an inspection contingency in their contracts have the option to request that the seller make repairs, negotiate a lower price or offer a closing cost credit. The inspection report can also serve as a guide to identify priority items for the buyer. If the seller refuses to comply, the buyer can walk away from the purchase without losing their earnest money deposit. In some cases, it may be necessary to hire a professional contractor to examine and repair the issues found by the inspector.