Most homebuyers in the Twin Cities will have a home inspection conducted before purchasing a home. These inspections are usually the final opportunity a buyer will have to examine one of the most significant purchases they will make. As such, the buyer needs to have the correct types of inspections and have the right people conducting them. There is a cost for inspections but it is well worth the investment.
What is a home inspection? How much does it cost?
The most common inspection is a complete home inspection. These are comprehensive inspections that take multiple hours and cost roughly $300- $700 depending upon the type of home and size. The inspector will look at the overall integrity of the property, not the color of the walls or furnishings. Things a home inspector will examine include the property’s HVAC system, interior plumbing and electrical systems, roof, floors, windows and doors, etc.
Depending upon variables of the home such as location, age, and condition, additional inspections may be recommended. During the complete home inspection, potential issues such as a questionable furnace or roof may be detected that require a more specialized inspection. Your home inspector can recommend additional inspections and your Realtor® can assist you in sourcing reputable professionals to conduct them. Other times, it is evident that a specialized inspection is necessary such as a well water and septic test when a home is serviced by a well and septic system.
Here are a few examples of what else in your home may need to be inspected by a licensed professional:
- Moisture Intrusion
- Sewer Line
- Lead-Based Paint
- Furnace/Air Conditioner
Why get a home inspection?
There is a multitude of reasons to do an inspection. The most obvious reason is to detect if there is a major defect in the home. Fortunately, finding major flaws is not typical. Many inspections uncover minor defects that are not readily apparent without a closer examination.
Regardless of the end results, it is valuable for a buyer to understand the strengths and shortcomings of a home. All homes are unique; understanding the condition and how to maintain a particular property is essential for any homeowner.
Who orders a home inspection, and who gets the results?
The buyer’s real estate agent will assist in setting up the inspection with the seller’s agent. When complete, the inspector will furnish the buyer(s), who typically pay for a home inspection, with a report and explain the results. In most cases, the seller will never see the results of a home inspection financed by the buyer.
I’m buying a brand new house, do I need a home inspection?
At a minimum, Fazendin Realtors strongly recommends all buyers conduct a complete home inspection before finalizing a purchase agreement. This recommendation applies to newly built homes as well as pre-owned properties. Because a home is new, one would assume it would be in impeccable condition. However, we have learned through experience that this is not always the case.
When should I schedule a home inspection?
The timing for inspections is agreed upon in the purchase agreement. Typically, the time frame is in the range of 8-14 days after the acceptance date of the purchase agreement.
Should I be there for the inspection?
While they have every right to be there, it is best that the sellers not be on the property during the inspection. Selling your home is an emotional time. The urge to defend or explain an issue found by the inspector could infringe on an inspector’s ability to write the impartial report that the buyer financed.
On the flip side, we strongly recommend the buyer be present for the completion, if not all, of the inspection. This process is an opportune time to ask questions and learn all of the quirks of a home.
What if the inspector finds something?
Sometimes the findings of a home inspection initiate a negotiation between the buyer and seller. In these instances, the buyer and seller both have options.
The buyer may decide to accept what has been discovered, request that the seller address some or all of the issues found, or cancel their purchase agreement entirely. Equally, the seller has the option to accept or reject some or all the buyer’s requests.
Your Realtor® is vital at this stage of your home purchase and home sale. He or she will explain your options to you and advise you on possible courses of action while negotiating on your behalf.
We hope you found this general overview of home inspections useful. If you would like to know more about the home inspection process, we encourage you to reach out. Fazendin Realtors is happy to answer any questions you may have. You can contact us by calling 952-473-7000 or emailing us at contactus(at)fazhomes(dotted)com.