What is home inspection, and why do you need it? A home inspection is part of the closing process of home sales. It is a crucial step to ensure the home is ready for occupancy. An inspection is also vital for protecting buyers. Homebuyers need to consider home inspection costs and negotiate home repairs as needed. You will also need to know how to find a reliable inspector.

This post will cover some of the points you need to know about home inspections in real estate sales.

What Is Home Inspection?

A home inspection is an extensive process. A professional inspector will assess the condition of the house inside and out. The inspector will have a comprehensive checklist, notes, and property photos. It includes the structure, the HVAC system, plumbing, roofing, water, sewage, and electrical. The inspector will also look for insect, fire, or water damage.

For average-sized houses, inspection takes a few hours. The inspector usually releases a report in three to four days.

What to Look for in a Home Inspector

About 5% of home deals fail because of a home inspection, so research wisely. Get referrals from family and friends and your real estate agent. It also helps to look up reviews on Yelp, Google, and Angie’s list.

Find a home inspector with plenty of experience and the certifications to perform specific tasks. Look for home inspectors accredited by the American Society of Home Inspectors or the International Association of Certified Home Inspectors.

Negotiating Repairs

After receiving the inspection report, you can negotiate with the seller on urgent repairs. You may ask the seller if you can split major repairs or reduce the sales price to cover repairs. If the seller agrees, you can ask for quotes from different repair contractors.

However, you need to understand that it’s not the seller’s duty to make repairs. On the other hand, you can walk away from the sale if the costs run past your budget. It’s all part of the negotiation process.

Most lenders will require major repairs like roofing or foundation to approve the loan. That could be another hurdle for the sale if the inspection uncovers significant issues.

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