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Table of Contents
- Home Inspection Basics
- What Do Home Inspectors Look For?
- When Does a Home Inspection Occur During the Real Estate Transaction?
- Who Performs the Inspection, and What Are Their Certifications?
- Who Pays for the Inspection?
- Inspection Contingencies
- Consider a Pre-Listing Inspection to Get Ahead of Needed Repairs
- How to Prepare for a Home Inspection
- What Are Inspection Requirements for a VA Loan?
- What Is a Four-Point Inspection?
Home Inspection Basics
A home inspection is a visual examination conducted on behalf of a buyer to identify any safety, health, and mechanical issues that do not meet state standards or the buyer’s lender requirements.
What Do Home Inspectors Look For?
Inspectors assess properties from roof to foundation for deficiencies, safety hazards, and functional issues. Key areas include:
- Structural Integrity: Foundation settlement, cracks in basement walls, warping, moisture, mold, gaps between walls and floors, or around windows and doors.
- Roof Damage: Loose, missing, or buckled shingles, attic and ceiling moisture, cracked, rusted, and missing flashing.
- Water Damage: Mold growth, wood rot, leaks, flood damage, water stains.
- Plumbing Problems: Rusted and broken pipes, leaking pipes, running toilets, leaking faucets.
- Electrical System Issues: Exposed wires, spliced or taped wiring, knob and tube wiring, lack of GFCI outlets.
- HVAC Issues: Cracked ductwork, inconsistent temperatures, rusted units, unusual noises.
- Pest Infestation: Rodent droppings, termite damage, chewed materials, nesting in attics.
For a detailed inspection checklist, download the NACHI PDF checklist.
When Does a Home Inspection Occur During the Real Estate Transaction?
The inspection is scheduled immediately after an offer is accepted, typically within seven to ten days. Smart sellers often prepare for the inspection in advance, sometimes even before receiving an offer.
Who Performs the Inspection, and What Are Their Certifications?
Certified or licensed home inspectors conduct the inspection. Certification requirements vary by state; some states mandate licensure. The American Society of Home Inspectors (ASHI) offers national board certification, requiring adherence to ASHI’s code of ethics, standards of practice, proof of 250 paid inspections, verified inspection reports, and passing the National Home Inspector Examination.
Who Pays for the Inspection?
Typically, the buyer covers the cost of the inspection. If a seller pays, it could be perceived as a conflict of interest, although inspectors are unbiased professionals. Buyers select their own inspectors.
Inspection Contingencies
A home inspection contingency allows the buyer to terminate the purchase contract if the inspection reveals more issues than they are willing to address. Sellers have seven to ten days to respond to repair requests. If the seller refuses repairs or price adjustments, the buyer can walk away with their earnest money deposit.
Consider a Pre-Listing Inspection to Get Ahead of Needed Repairs
A pre-listing inspection, paid for by the seller, can uncover potential repair issues before the buyer’s inspection. Addressing these issues in advance can lead to a faster sale and prevent buyers from walking away due to significant repairs, like a new furnace.
How to Prepare for a Home Inspection
Licensed home inspector Brian Wetzel offers a comprehensive checklist for interior, exterior, kitchen, bathroom, and garage preparations:
- Complete Repairs: Address issues from a pre-listing inspection or recommended by your agent. Servicing your HVAC and setting out receipts and warranties can preemptively resolve many concerns.
- Ensure Access: Make sure the inspector can access all areas and systems, including attics, HVAC, plumbing, electrical panels, and any exterior buildings. Remove obstacles and keep remotes accessible for fireplaces, lighting, and ceiling fans.
What Are Inspection Requirements for a VA Loan?
While not required, a home inspection is necessary for a VA appraisal to ensure the property is safe, sound, and sanitary. Inspections cover the home structure, exterior, roof, attic, electrical, plumbing, major appliances and systems, and other relevant small appliances.
What Is a Four-Point Inspection?
A four-point inspection evaluates a property’s four major systems: roofing, HVAC, electrical, and plumbing. Required by home insurance companies to assess risk, these inspections are typically conducted by certified professionals, such as members of ASHI or NACHI.