- What is a home inspection?
The inspection is an important part of the home buying process. This is when a licensed home inspector reviews the house to find structural, electrical or mechanical flaws. The home inspection is designed to protect the buyers, by revealing problems they might not have noticed otherwise. It is a “non-invasive” examination of the property, which means the inspector will not cause any damage to the home while inspecting it. It is not a code, safety, to insure or to warrant the property but to give an opinion as to the CONDITION of the property at that time. The first page of the Texas REI 7-5 report states that NO one is required to make repairs or repair anything (last paragraph).
- Why is the home inspection necessary?
Home inspections are not required by law, but they are definitely worth the money. The inspection helps protect your investment. It gives you the peace of mind that comes from knowing the true condition of the home. The home inspection also gives you a way to back out of the contract, if the inspector finds something you are unwilling to accept. So in a word, yes, they are necessary to include helping to prove to your Home Warranty (if purchased) that the item was inspected and was or was not working properly.
- When does the inspection usually take place?
In most cases, the inspection takes place shortly after the seller accepts the buyer’s offer. It happens before the appraisal. You want to schedule the home inspection as soon as you can, so you can have time to make repair requests or to get estimates on how much to repair. If the inspector uncovers something serious enough to be a deal-breaker, you’ll want to know sooner rather than later. As the buyer, it is your responsibility to schedule the inspection.
- Who pays for it?
In nearly all cases, the home buyer pays for the home inspection. It is designed to protect the buyer alone, so the buyer bears the cost.
- How much does a home inspection cost on average?
The cost will vary based on location and the size of the home. You can expect to pay somewhere between $350 and $600 for a home inspection. Be sure to inquire about the full cost before you hire an inspector. Cost varies due to; square footage, age of home, slab on grade or pier and beam, number of stories, driving distance for inspector and if additional equipment/items are inspected (pool, sprinkler system, septic tank, well, etc.).
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