Home Inspection
A home inspection is a visual examination of a residential property's physical structure and major systems, conducted by a qualified inspector to identify defects, safety concerns, and maintenance issues before the purchase is finalized.
What This Means
What an Inspection Covers
A standard home inspection evaluates the property's major components including the roof, foundation, structural framing, electrical system, plumbing, HVAC, insulation, windows, doors, and visible portions of the exterior. The inspector also checks for evidence of water intrusion, pest damage, and safety hazards such as faulty wiring or improper venting. Inspections are visual and non-invasive; inspectors do not open walls or disassemble systems. The inspection typically takes depending on the size and age of the property.
Inspection vs. Appraisal
A home inspection and an appraisal serve different purposes. The appraisal establishes the property's market value for the lender. The inspection evaluates the property's physical condition for the buyer. Most lenders require an appraisal but do not require a home inspection, though inspections are strongly recommended. An inspection is typically arranged and paid for by the buyer, with costs ranging from for a standard single-family home.
Negotiation and Contingencies
Purchase contracts commonly include an inspection contingency that allows the buyer to negotiate repairs, request a price reduction, or withdraw from the transaction if significant defects are discovered. The buyer typically has after the inspection to respond, though this period varies by contract terms and state law. Specialized inspections for radon, mold, termites, sewer lines, or structural engineering may be warranted based on initial findings and are ordered separately.