Understanding Home Inspections..

An essential part of the home buying process is having the property properly inspected before agreeing to purchase it. After all, no one should ever buy something as large and expensive as a home without having a qualified professional fully inspect it. Here's a little information about home inspections that can help you become a well informed home buyer.

 What Is a Home Inspection?

A home inspection is best defined as a non-invasive review of the condition of the home. The inspections are usually conducted before the purchase or sell of a home, but there are other special circumstances that may also warrant an inspection. Home inspections are performed by home inspectors who have been licensed with the state after receiving thorough training. Inspectors will come out to the property in order to assess it and then provide the buyer or seller with a complete comprehensive report detailing their findings. Many people often confuse the inspection of the home with the appraisal, but the two are very different. To put it simply, a home inspector is one who determines the overall condition of the property, while the appraiser determines the value of it. Typically, home inspectors check the plumbing, the roof, the foundation, the heating system, the air conditioning system, the electrical framework, along with other aspects of the building. Some inspectors might even go as far as to inspect pools, spas, sprinkler systems and wooden structures added onto the home. The quality of service really all depends on the inspection ordered, the individual inspector and the company he or she happens to work for.

 Most Common Types of Inspections

• Home Buyers Inspection – The home buyers hire a licensed inspector to inspect the property and identify any major flaws or problems so they can make arrangements to have them repaired or deducted from the sale price before agreeing to purchase.
• Home Sellers Inspection – A homeowner who is planning to sell their home in the near future may hire an inspector in order to have them identify problems with their house. This is usually done so the homeowners can fix the problems to increase their chances of selling in a timely manner.
• Foreclosure Inspection – A foreclosure inspection is commonly referred to as REO (Real Estate Owned) inspections and differ from the buyer and seller's inspection because they are fairly basic. Home inspectors licensed with the state may conduct the foreclosure inspection or it can be performed by a Certified Field Inspector or a Certified Property Preservation Specialist. While they can perform basic foreclosure inspections, these specialists may or may not be qualified by the state to provide official home inspections.
• Four Point Inspection – Home insurance companies often require a four point inspection of a home before providing the owners with insurance. These four points include the roof, the HVAC, electrical system and plumbing.

 If you have a home inspected only to find out that you will need to put a great deal of time and money into repairing all of the problems laid out by the inspector, it might be best to consider another property that is more move in ready. That is unless you can negotiate a substantially lower price with the seller.