Feb 27, 2015
When purchasing a home, the home inspection is a very important and necessary part of the home buying process. Here are a few frequently asked questions about home inspections.
What exactly does a home inspector do?
A home inspector is responsible for checking the safety and durability of the home you are interested in buying.
The inspector generally focuses on the structure, construction, and mechanical systems of the house and should be checking the following things:
The inspector should make you aware of repairs that are needed, but won’t necessarily tell you whether or not you’re getting good value for your money. Be sure to hire a home inspector that is qualified and experienced.
When should I get the home inspected?
It’s recommended to have the home inspected before you sign a written offer; otherwise, once the deal is closed, you’ve bought the home “as is.” You may want to consider including an inspection clause in the offer when negotiating for a home, which gives you an “out” on buying the house if serious problems are found. An inspection clause can also give you the ability to renegotiate the purchase price if costly repairs are needed, or specify that the seller must fix the problems before you buy the home.
Do I need to be present for the home inspection?
While not required, it’s a good idea to be at the home with the inspector during his/her evaluation. After the inspection, the home inspector will provide a report and be able to answer questions and address problem areas.
Will a bank require a home inspection before approving a loan? Will they approve a loan on a home that needs repairs?
A home inspection is not required in order to obtain a mortgage. If there are obvious major issues that affect the value of the home, it may be noted in the appraisal report, but this does not count as an inspection.
It is important to note, however, if your contract mentions a termite report, the lender will require that to be performed and passed before you close on the home. In addition to pest infestations, a termite report lists obvious structural defects, such as wood rot and areas of moisture. These are classified into two categories. All issues listed in category 1 must be repaired prior to closing. However, the lender does not stipulate who must pay for those repairs.
For more information on getting a home inspected, contact the real estate agents at Hilton Head Island Real Estate Brokers. We can put you in touch with some trusted local home inspectors and help to make the process smooth and stress-free.
If you want to make a little piece of The Island your own, you need more than just a road map and a REALTOR. You need a partner who can make things happen.
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