Home Inspections 101
by Michael Quinn, President of U.S. Inspect

What Every Home Buyer Should Know About the Home Inspection Process

So you're buying a home, making one of the largest investments in your life. With that comes the possibility of making the largest mistake of your life-choosing not to have a home inspection performed.

Do I Need a Home Inspection?
There is absolutely nothing that requires you to have an inspection performed prior to purchasing a home. However, a home inspection equips you with the knowledge and information you need to make a well-informed home buying decision, providing peace of mind during a typically highly stressful transaction. According to the 2001 Home Inspection Study by the American Society of Home Inspectors (ASHI) and the National Association of Realtors (NAR), 97% of home buyers who received a home inspection believed it to be a good value for the price they paid.

When Should the Home Inspection Be Performed?
In a real estate transaction, the buyer usually arranges and pays the fee to have a home inspection performed on the property being purchased. The inspection must be completed prior to the expiration of the contingency period of the real estate contract (usually between 10-12 days after the contract is negotiated, but prior to closing). After the inspection is performed, you can discuss the findings with your real estate agent.

What Should I Expect From a Home Inspection?
A home inspection is a non-intrusive, visual examination of a home that typically lasts between 2-3 hours, depending on the size of the home. The inspector will review all accessible areas and items, including the heating system, central air conditioning system, interior plumbing and electrical systems, the roof, attic space and all visible insulation, the walls, ceilings, floors, doors, windows, basement or crawlspace area, and the foundation and all visible structural components. At the end of the inspection, the inspector will usually present a hard copy of the inspection report. All deficiencies and maintenance recommendations will be noted and presented to the buyer, who is usually encouraged to attend the inspection so that any questions can be promptly addressed.

How Much Does a Home Inspection Cost?
Fees for a home inspection vary, depending on the location, age and square footage of the home. But this is one time in your life when you would not want to sacrifice a quality home inspection to save a few bucks. The important thing is to select a reputable home inspection company that has experienced, professional home inspectors, has comprehensive Errors & Omissions Insurance, and is affiliated with the top national home inspection associations, such as the American Society of Home Inspectors (ASHI).