5 Key Steps of Home Inspection
Home inspections are a valuable measure when purchasing a home. Here are 5 key elements to make sure you get the greatest benefit from this step of the purchase process.
1. Research the Inspector
Get referrals for three home inspectors from a reputable source. Your Realtor should be able to provide at least three. The inspection is only as good as the inspector performing the inspection. Call each inspector and ask these 5 key questions:
How long have you been inspecting homes?
How many inspections have you done?
What are your qualifications, certifications and training?
What was your job before you were a home inspector?
What type of inspection report will I receive following the inspection?
2. Ensure all utilities are on for the inspection
Inspectors need to arrive at the property with all systems operational. If the utilities have not been turned on you will likely received an incomplete report. At minimum this will result in extra fees to you as the buyer for a re-inspection.
3. Attend the inspection
Reading the full inspection report is a great start but the report isn’t enough for some homeowners to get the full picture. I recommend attending the last 30 minutes of the inspection at a minimum. This allows the inspector to perform the inspection without distraction but still go through each of his/her findings and point out some key items while on site.
4. Read the full inspection report
Too many buyers and sellers just read the summary report. The summary will catch most if not all of the items of concern but the full report will provide you with a large amount of additional information that will be valuable well after the purchase. You will want to keep your inspection long after you have bought your home.
5. Complete the inspection within the due diligence period
In North Carolina the commonly used Purchase Agreement provides a due diligence period. Among other things this provides time to inspect the home. You will want to leave enough time to perform the inspection, received the report and if applicable negotiate repairs or concessions. All of which should be completed prior to the expiration of the due diligence period.
Owner & BIC