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. A well done inspection will aid the buyer in planning and budgeting for future home repairs by letting you know what kind of life expectancy might be had from the major components and systems. 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.
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 to be responsible for replacing a furnace which malfunctions a month after you buy the house just because the inspector reported that it as functioning properly at the time of inspection. Inspectors report on current conditions and expected events or life cycles of equipment and 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.
Not at all. Such home warranty policies will not cover all aspects of the home’s systems and structures (roof, foundation, 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. But they are no substitute for a good home inspection.
The Texas Real Estate Commission regulates real estate inspectors in the State of Texas. There are minimum guidelines concerning what the inspector is required to inspect, and in some cases the manner in which the inspection must be carried out. In order to obtain a license from the State of Texas to make property inspections, the would be inspector must fulfill the educational and experience requirements mandated by the State and then pass one or more examinations. There are three levels of licensing granted by the State of Texas; Apprentice Inspector, Real Estate Inspector, and the highest level of licensing, the Professional Real Estate Inspector.
Even the most experienced homeowner lacks the knowledge and expertise of a Professional Real Estate Inspector who has inspected hundreds 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 professional.
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 obligation 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.
It is not necessary or required that you to 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 its systems work, and how best to 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.
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 how problems will be corrected. This may involve adjusting the purchase price or contract terms, or an agreement that repairs will be completed before the sale continues. 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.
Not at all. Being an informed buyer allows you to proceed with your purchase with confidence. That peace of mind is 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.
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. The appraiser looks at the GENERAL condition of the house and note some items needing repair but the appraiser job is not that of a home inspector. A Professional Real Estate inspector is better trained and more experienced at inspections and looks at more things and in greater depth than the appraiser.