When your offer has been accepted on a home, you will be given a couple opportunities to take a closer look at the homes for sale you might be buying. One way you can do this is with a home inspection, where you can have a professional take a close look at the home and let you know what is wrong with it. If you end up discovering problems that are concerning to you, it will give you an opportunity to walk away from the home before the sale is final. Here are some common question about home inspections that many first-time home buyers have.
What Does An Inspector Look For?
The thoroughness of a home inspection will depend on which professional you go with, since some could offer different levels of service. You can expect a lot of the basics to be covered, such as looking at the foundation for cracks, inspecting the electrical work, checking the plumbing, testing appliances, inspecting the roof for damage, and other things of that nature.
Some inspectors may offer add-ons that let you know more about the home. This could include using an infrared camera that can tell how much insulation is in the walls, testing the home for lead paint, or even testing the quality of the water coming out of the faucets.
Your inspector will provide a detailed report of every aspect that has been inspected, letting you know about potential problems that could require repair after you move in.
How Long Does An Inspection Take?
While the length of the inspection will vary depending on the size of the home, expect it to take no more than a day to cover everything that needs to be done. While you don't need to attend, it is highly recommended that you do to learn about the home as the inspector is doing their job. Your realtor will also need to attend the inspection to give access to the home and to supervise everything that is going on.
Is An Inspection Required?
While a home inspection isn't required if you are buying without financing, your mortgage lender may require it to approve your loan. If there are too many red flags in the report that can have an impact on the home's value, it could cause them to deny you a loan because of this. Be sure to ask your mortgage lender about their policy concerning home inspections if you decide to pass on having it done.