5 Things to Know About Home Inspections

A professional home inspection often servers to find any home construction defects of which the buyer must be made aware prior to completing the purchase. Home inspections have become more popular in recent years, as 95 percent of purchased homes underwent an inspection in 2013, compared to only 75 percent twenty years earlier. While most buyers rely on home inspections to locate potential home construction defects, buyers and sellers should understand about how inspectors work.

Qualifications for Home Inspection

The rules governing the qualifications of home inspectors can vary widely from state to state, so the inspector’s ability to conduct home inspections can also show noticeable inconsistencies. States like Maryland and New York require inspectors to be licensed, attend training classes, and follow licensed inspectors to understand what the job entails. Other states, such as California and Virginia, do not have any licensing or training requirements for inspectors.

Home Inspections vs. Brokers

The inspector conducts every home inspection on behalf of the buyer. However, the inspector also relies on agents, brokers and other real estate professionals for referrals. This apparent conflict of interest can compromise how effectively an inspector can work for the buyer. Some inspectors have reported that brokers have requested them to avoid certain parts of the house, such as the electrical or ventilation systems, that may not be fully functional. Others have stated that brokers will stop giving them referrals if their home inspections cause buyers to back out of the purchase.

Buyers Can Watch Home Inspections

Some buyers may feel too intimidated to watch a home inspection. They may believe that their presence creates an intrusion into the inspector’s work and that their lack of knowledge would lead them to ask “stupid” questions. These buyers must realize that a home purchase is the biggest and most important purchase they can make, so they have both the right and the obligation to ensure that the inspectors carry out their tasks to the fullest extent.

Get A Home Inspection Before Making an Offer

The standard practice among most buyers consists of conduction the home inspection after submitting an offer to a broker or realtor. In today’s market, many more prospective buyers are calling for inspections prior to making an offer. A real estate research group found that buyers in San Francisco who combined their offers with pre-inspections were successful 21 percent more often than prospective buyers making other offers.

Home Inspections Don’t Catch Every Defect

Many potential home buyers have unrealistic expectations of what a home inspection covers. Most inspections provide a surface-level evaluation of the structure without looking too deeply at more subtle defects. For instance, a qualified and experienced inspector can evaluate if the ventilation system is functioning properly, but will not assess if it will work as effectively as possible. Some home construction defects may require a contractor to find and repair them, which involves additional costs.

Source: Marketwatch

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