Why get a home inspection?
Is a home inspection a guarantee or warranty that there is nothing wrong with the house?
My contract includes a home warranty policy.Isn't that protection enough?
Who make the home inspection?
Can't I do the inspection myself?
When is the right time to get the inspection?
Should I present at the inspection?
What happens if problems are found?
If the house proves to be in good condition, didn't I just waste
my money?
I am getting an FHA loan and there will be an appraisal.Isn't the appraisal inspection adequate?
Why get a home inspection?
The purchase of a home is the largest single investment most people will ever make.It is important to learn as much as possible about the condition of the property before you buy.A home inspection can minimize unpleasant surprises and difficulties after the purchase. A home inspection will give you a much clearer understanding of the property you are about to purchase.A home inspection provides an impartial, in-depth, evaluation of the physical condition of the property both mechanically and structurally.An inspection will aid the buyer in planning and budgeting for future home repairs.If you are planning to sell your home, you may wish to have an inspection prior to placing your home on the market. This preemptive measure can help you get the house in a better selling condition, which can greatly facilitate a sale.
Is a home inspection a guarantee or warranty that there is nothing wrong with the house?
No, an inspection is just an inspection. It is information about the condition of the house as discovered by the inspector at the time of the inspection. Remember that the inspector will not open walls or dig up sewer lines. You can’t expect the inspector reported that it s functioning properly at the time of inspection. Inspectors report on current conditions of equipment components. If, for some reason, the furnace does malfunction before the normal time period, the inspector is not liable. Similarly, equipment sometimes lasts much longer than expected and reported by the inspector.
My
contract includes a home warranty policy.Isn’t that enough protection?
Not at all. Such home warranty policies will not cover all aspects of the home’s systems and structures (roof, foundations, and so on.)Furthermore, such policies often have numerous exclusions and preexisting condition clauses that will not protect you in all cases. That is not to say that such policies are a bad idea.On the contrary, they can be a real asset if something covered by the policy should unexpectedly fail. The are however, no substitute for a good home inspection.
Who makes the home inspection?
The Texas Real Estate Commission regulates real estate inspectors in the State of Texas. TREC has adopted rules governing inspectors, including the minimum standards of practice under which inspections of residential property much be conducted. In order to get a license in the State of Texas a candidate must fulfill the educational and experience requirements mandated by the state and them pass one or more examinations. There are there levels of licensing granted by the State of Texas; Apprentice inspector, Real Estate Inspector, and the highest level of licensing, the Professional Inspector.
Can’t I do the inspection myself?
Even the most experienced homeowner lacks the knowledge and expertise of a Professional Real Estate Inspector who has inspected hundreds of homes.An inspector is familiar with the many elements of home construction, their proper installation, and maintenance. He or she understands how the home’s systems and components are intended to function together, as well as how and why they fail. Above all, most buyers find it very difficult to remain completely objective and unemotional about the house they really want, and this may affect their judgment. For the most accurate information, it is best to obtain an impartial third-party opinion from a trained expert.
When is the right time to get the inspection?
A home inspector is typically contacted right after the contract or purchase agreement has been signed. The contract you sign should always include an inspection clause that makes your purchase contingent upon the findings of a Professional Home Inspection. This clause should specify the terms to which both the buyer and seller are obligated and typically has a window of time for the purchaser to get the inspections completed.
Should I be present at the inspection?
It is not necessary or required that you be present at the time of inspection, but it is recommended. You will be able to observe the inspector and ask questions directly allowing you to learn more about the condition of the home, how it’s systems work, and how to best maintain it. You will also find the written report easier to understand if you have had the opportunity to see the property through the inspector’s eyes.
What happens if problems are found?
There is no such thing as a perfect house. If the inspection does identify problems, it doesn’t necessarily mean you shouldn’t buy the house. You are always free to negotiate with the seller and attempt to come to an agreement about the problems will b corrected. This may involve adjusting the purchase price, contract terms, or making an agreement that repairs will be completed before the sale is concluded. Most problems can be repaired with rare exceptions.What is most important is that you be aware of what the problems are so that you can make informed decisions about your purchase.
If the house proves to be in good condition, didn’t I just waste my money?
Not at all. Being an informed buyer allows you to proceed with your purchase with confidence. That peace of mind of well worth the price of a Professional inspection and you will likely learn things about your new home from the inspector’s written report that will be of great value to you.
I am getting an FHA lean and there will be an appraisal. Isn’t the appraisal inspection adequate?
An appraisal is an estimate of market value of the property and is used to set the maximum amount the lender will lend on the property.While the appraiser does look at the ‘GENERAL’ condition of the house and is supposed to list those items needing repair when the house is financed with an FHA insured loan, the appraiser is not a home inspector. A Professional Real Estate inspector is specifically trained and more experienced at inspections and looks at more items in greater depth.
Will FHA help pay for the cost of the inspection if I am getting an FHA loan?
Paying for the inspection will be your responsibility.However, the FHA believes inspections are a very good idea and therefore will allow most, if not all, of the cost of the inspection to be used to satisfy the FHA’s cash investment requirements when buying the house. |
