If you are planning to purchase a house, an inspection of the property cannot be overlooked. After all, you would want to choose the best from the housing market; a house befits your needs and preferences.
A thorough home examination will give you a scope of examining the physical condition of the property in which you will be investing money. While you may select a professional agency to help you with the process, there are a few questions that you may want to ask.
Here are some home inspection FAQ’s that can help you understand the process of investing in real estate. Hope it helps you find the appropriate answers!
Home Inspection Frequently Asked Questions
What is a Home Inspection?
Home inspection refers to the visual examination conducted by a team of professional inspectors to determine the physical condition of a property.
The process of this examination is non-invasive and unbiased and enables the buyer with a better perspective on whether or not to invest in the shortlisted property. Most real estate home transactions involve an examination.
What Does a Home Inspection Process Entail?
The home scrutiny process entails a detailed examination of every part of the property that makes the house and reflects its economic value.
A typical procedure of scrutiny would include checking the home’s foundation, roof, attic, basement, furnace, electrical systems, plumbing layout along with the overall condition of the property.
Regardless of how detailed a report you are expecting, most agencies include checking the electrical, water systems, heating and cooling aspects, patio, garage, and several other interior components of the unit.
The inspector will look for poor construction and gaps to draw an analysis of those parts of the building that need repair and maintenance. In case the selected building has any fire and safety issues, it can be identified and addressed during the inspection.
What is a Home Inspector?
A home inspector is a professional who spends adequate time at the shortlisted property to check to conduct a complete physical assessment of the building and submits a detailed report on it. Find tips to hire an agency at https://www.quora.com/As-buyers-what-are-some-tips-for-house-inspection.
Can I Inspect the Home Myself?
No, especially if you are looking for a home inspection report, it would be necessary to hire a professional agency. It takes training and experience to be able to inspect a property.
They undertake a complete system check coupled with the scrutiny of the structural integrity of the property.
What is an Appraiser?
An appraiser is a professional who shares his opinion on the property’s market value. Unlike a home inspector, he/she doesn’t spend as much time at the site but can share an overall idea on the general condition in comparison to its adjacent properties.
Do I Need to Inspect the Home Even for a New House?
Yes. Irrespective of whether you want to buy a new house or an old one, it is recommended that you get the property inspected.
This will bring out the gaps in the construction of the house so that you don’t miss out on any important details.
Most buyers are not trained to recognize the underlying defects in the property, and this is where a home inspector can do it on the buyer’s behalf.
Is it possible for the Home Inspectors to Fail an Inspection?
Professional property inspectors are less likely to fail an examination. If you hire a professional agency for the purpose, you can expect them to do a proper check. Inspectors can identify all the minute details that you as a buyer may have missed.
Most defects are repairable on short notice while others may take a longer time. Depending on your comfort of how the buyer would want to spend on the repairs, the decision can be taken.
How Long Would the Inspection Process Take?
The inspection of a residential house could take anywhere between 2-3 hours. In most cases, the time would depend on other factors such as the layout, access to the different parts of the rooms, whether it is furnished or is a bare structure, etc.
Bigger properties may take a little longer to be inspected.
Will I Have to Submit Any Documents to the Inspection Agency?
Yes, you may have to submit a copy of the property layout along with the specifications of the materials used in the construction of the building as available in the sale agreement.
Some contractors may also ask for the electric layout of your property.
In many places, if access to the building is an issue, your agency may ask for an authorization letter from either the builder, owner, or concerned authority in charge of the existing structure as permission to conduct the scrutiny.
Would the Contracted Agency Inspect Common Areas of the Building Such as Parking, Pathways, or Any Other Amenity of the Property?
Most top-rated check agencies review the site as well as its adjacent utility common areas, i.e. the area just outside the main entrance.
You can check with your concerned authority before hiring them to see what all is included in their list of things to be scrutinized.
How Long Does the Review Report Take to be Prepared?
You can expect the best inspection agencies to complete a report within the stipulated time. In most cases, this could take up to 3 working days from the completion of the site visit.
Follow this link to learn more about how to prepare for a professional property review.
Do I Need to be Present at the Time of Inspection?
It may not be necessary for you to be present at the time of the scrutiny. However, if you want to participate in the process and see how it is done, you can be there.
That way you will also get to see the different tools that are used to review every aspect of the building.
Is the Inspection Service Chargeable?
Yes, you will have to pay for the review service. You can ask for quotations from the shortlisted agencies for an estimate of how much they would charge for inspecting the property.
You may have to pay the inspector an amount before they begin the process. It would be best to check the terms and conditions before appointing a certified contractor for the purpose.
Is There a Rating Mechanism on the Marketplace?
Yes. You can always check for ratings on home inspection forums. Most reliable contractors keep it transparent and ask for feedback from their clients.
Do Inspection Service Providers Also Undertake Any Repair and Maintenance Work?
Mostly not. These agencies are focused on helping their clients decide the future course of action based on their reports submitted post-review of the building.
Your chosen agency may be able to help you with trustworthy references of builders who can take up the required repair work.
Are There Any Prerequisites that I Need to Take Care of Before Planning an Inspection?
The answer is yes. As a customer, you will be paying for the hired service. Once you approve of the quotation and appoint the experts, they may ask for the necessary documents to be submitted for access to the building, its layout, etc. that would have to be submitted to the agency.
You can ask the inspector questions about all that you need to know as it not only concerns the money you’ll be spending on hiring the inspecting agency but also the property in which you’ll be investing.