Home
Inspection
 Once
a purchase agreement is executed between
the buyer and the seller, it is a good idea
to get a home inspection done. The buyer
needs to hire a professional home inspector
to search for all defects within the home
and report on the overall condition of the
home. Many times, a buyer will have enough
knowledge to look over the home themselves
to find any defects, but it is always best
to have an inspection done by a professional
anyway. Buyers are purchasing the home in
the present condition of acceptance.
The
purpose of an inspection is to make the
buyer aware of the physical condition of
the property. Inspections do not provide
guarantees of the home’s condition,
but they do provide information that is
valuable to the buyer.
A
good inspector should belong to a trade
organization for home inspections. The American
Society of Home Inspectors (ASHI) is one
example. This organization has formal guidelines
and a professional code of ethics that all
inspectors must follow. The requirements
for those to join the group will be technical
knowledge of structures, appliances, and
proven field experience.
The
seller wants the inspection performed quickly
so that the buyer can approve the condition
of the home and move on with the purchase.
A list of possible items for repair will
show up on an inspector’s report.
The buyer can then negotiate with the seller
to have repairs done, if needed, depending
on the contract. The buyer can still cancel
the purchase agreement if repairs exceed
the $ amount allocated for repairs on the
contract, or if repairs are not made within
the timetable set. In the event a repair
may take longer than expected, an addendum
to the contract, to finish the repair after
closing, can be issued to satisfy both parties.
The
buyer should look at the home one more time
a few days before closing or in most cases,
afew hours before signing the closing documents
to see that the home is in the same condition
that it was when they made the original
offer. This is also the time that the buyer
needs to notice is any agreed-upon repairs
have been made.
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Copyright 2008
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