Pay attention to the major home components during the inspection. This includes the foundation, the electrical wiring, the roof, the plumbing, the drainage and the HVAC system. If the report is clean and you discover issues after moving in, consult an attorney.
“Home inspections generally cost between $300 and $450,” says Angie Hicks, co-founder of the home services website Angie's List. Hicks says buyers can expect to pay at least $400 for a home inspection from a reputable company on an average 2,000-square-foot home.
Here are 13 things that warrant extra attention during your home inspection.
A buyer and seller's real estate agents will be able to fill them in on the laws in their particular state, but in general a seller is responsible for paying to fix severe water damage or mold issues, to replace missing or broken smoke detectors, and to remedy building code violations, among other things.
An average inspection takes about 2-2½ hours (1-1½ hours for a condo). The time is well-spent considering there are more than 500 components in the average home.
Fortunately, there are some things you can do to prepare for the inspection.
Closing costs are fees and expenses you pay when you close on your house, beyond the down payment. These costs can run 3 to 5 percent of the loan amount and may include title insurance, attorney fees, appraisals, taxes and more.
Cohesion is important when building a home. ... Although a building inspection is an additional cost, it could really save you money down the track if they pick something up that you might have missed. The builder will have to fix it before they can finish the house, so you won't have to deal with it later on.
The local real estate market.
A robust real estate market, like in retiree-heavy Florida or a technology job haven like northern California will mean more inspections, and higher price per inspections, as home inspectors are in greater demand.
Potential red flags that can arise during a property home inspection include evidence of water damage, structural defects, problems with the plumbing or electrical systems, as well as mold and pest infestations. The presence of one or more of these issues could be a dealbreaker for some buyers.
The inspector will walk through the property you plan to purchase and look at several areas from plumbing and roofing to drainage and wear and tear. They will note everything they find that needs attention from major safety issues to minor cosmetic mishaps.
A home inspector will evaluate each part of a subject property looking for electrical, plumbing, mechanical, and structural issues. Some things that fail a home inspection include anything from drainage issues in the yard to cracks in the foundation.
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