There are a lot of steps you should take during the home buying process to make sure the home you are buying is a good investment and will provide you with the shelter and protection you need from the outside. However, if you do not complete the right due diligence with a home inspection, the home you end up buying may be a lot different in construction and quality than you expect. Here are some important aspects of the home inspection process and how you can make it a successful part of your home purchase.
Understand Your Purchase Contract
When you make an offer to purchase a home, always be sure to include a home inspection contingency. This part in the purchase contract is a common inclusion that should not take the seller by surprise, and can often be required by a bank if you are to get it financed through a mortgage lender. So be sure you include a contingency to hire a professional home inspection to evaluate the home's condition. You should provide a deadline in the contract that limits the time frame that this inspection needs to be completed, which will give you a chance to review the inspection report before you proceed further toward the home's closing.
After you have hired a home inspection, you will have the opportunity to renegotiate the purchase terms, especially if you have found damage that would affect the home's value or how much money you will need to put into it with repairs. However, if you wish to cancel your purchase contract due to findings on the home inspection, you can also take that step without legal retribution.
Protect Your Health
One of the reasons that you should arrange for a professional home inspection before you purchase the home is so you can determine if there are any preexisting conditions within the home that have been undetected thus that can put your health at risk. Homes are usually protected against the weather and incoming moisture leaks from rain and snow, however, leaks can occur inside a crawlspace, the attic, or behind the wall. Leaks can occur from an interior water line or plumbing leak that causes odors from sewage and mold and mildew growth that the seller may not be aware of. And if the home is being sold by someone who has never lived in the home, they are definitely not going to be aware of any issues with mold or mildew growth.
A professional home inspection will also be able to check out the home's electrical wiring to make sure it is installed properly. Some older homes have wiring that has aged and may not be safe against sparks or a fire hazard. So when you hire a professional to inspect the wiring as part of the home inspection, they will alert you to any problems with the wiring and its components, especially if it is still antique knob and tube wiring.
Contact a local home inspector to learn more.