Know Your Home Inspector

couple-with-home-inspector

What to Look for in a Home Inspector

No one wants to buy a home without knowing what they’re getting themselves into. As a buyer, the mystery that comes with not knowing the condition of a home is unnerving. This is why getting a home inspection is essential. It is also important to know your home inspector and their procedures before starting the process.

Questions to Ask a Potential Home Inspector

Before you hire a home inspector, ask them the following questions to help you make the best decision:

  1. Are you a member of a professional home inspector association?
  2. Are you experienced in residential inspection?
  3. How long have you been inspecting homes for?
  4. What does the inspection cover?
  5. Am I able to attend the inspection?
  6. How much will it cost?
  7. How long will it take?
  8. Do you offer any repairs or improvements based on the results of the inspection?
  9. What kind of report do you provide?
  10. How long will it take to receive that report?

Asking these questions will allow you to spot any red flags and help you determine if your home inspector is as good as they claim.

Look for Red Flags

Here are some red flags to look for when asking your home inspector the above questions:

  • Not providing documentation or identification that shows they are a member of a professional home inspector association. While being a member of a home inspector association doesn’t guarantee that the inspector is an expert, it is safe to assume that non-members are not experts.
  • Not providing referrals or work history upon request. If the inspector is unwilling to provide referrals or their related work history upon request, they may not be as qualified or experienced as they claim.
  • An inspector will not let you attend the inspection. It is important for you to attend the inspection. Not only are you able to make sure the inspector is thorough, but you will also be able to address any concerns about the home firsthand instead of after the report has been filed. A good home inspector will let you come on the inspection with them; a great inspector will talk you through it as they inspect each area of the home.
  • The inspector will not let you see a copy of their inspection report prior to the start of inspection. Your inspector should let you see a copy of the inspection report before they begin. The report details everything that will be covered during the inspection, and receiving a copy of it beforehand will allow you to ask any questions or add on specific areas you want to be inspected.

Other Important Information

An average inspection can take two to three hours. You should expect to receive the full, completed report within 24 hours. Not all inspectors make repairs onsite, but if they do, make sure to utilize their services. Finally, the cost of an inspection can vary, but an average range can be from $300-$500.

Make sure your home inspector answers the questions above before you begin, and always take precautions when you notice red flags.
Check out the Department of Housing and Urban Development website for more details on choosing the right home inspector.

Our Mission Statement

Our mission is to be the home financing partner that you trust to serve your family, friends and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships.

About Inlanta Mortgage

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2015. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.
Inlanta Mortgage, Inc. NMLS #1016

The Importance of a Home Inspection

HomeInspection

The Importance of a Home Inspection

Many buyers will choose to opt out of a home inspection to save some money or if it means getting an accepted offer on the home they are trying to purchase. However, waiving your right to a home inspection can be a costly mistake in the long run. Getting a home inspection can tell you the overall health of the home you are about to purchase, give you an idea of potential repairs, and allow for a home inspection contingency to be added to your contract.

What a Home Inspection Examines

A good inspector should examine certain components of the home you want to purchase and then produce a report covering his or her findings. Be sure to get a copy of the report, but also make sure you attend the inspection, too. You will be able to ask questions, get a firsthand explanation of the inspector’s findings, and see any problems the inspector finds in person. Inspections typically last 2-3 hours, so a little time now could help you get the full picture of your potential new home.

The inspector’s report should include:

  • whether each problem is a safety issue, major defect, or minor defect
  • which items need replacement and which should be repaired or serviced
  • items that are suitable for now but that should be monitored closely

Some common problems found during home inspections include:

  • Faulty wiring
  • Roof problems
  • Heating/cooling system defects
  • Plumbing issues
  • Poor home maintenance
  • Structural damage
  • Poor drainage around the structure, etc.

Download our home inspection checklist here

Home Inspection Limitations

A home inspection checks for visual cues to problems, so it cannot find all of a home’s defects. For example, if the home’s doors do not close properly or the floors are slanted, the foundation might have a crack. However, if the crack cannot be seen without pulling up all the flooring in the house, a home inspector cannot tell you it is definitely there.

In addition, most home inspectors are generalists. For example, they can tell you that the soil is too close to wood outside the home, but will recommend that you hire a pest inspector to check if the home has termites and the extent of the damages. Home inspectors also do not check for issues like site contamination, mold, and other specialized issues. Hiring additional inspectors will cost extra money, but if it is a serious enough issue, it is better to know about it now than later down the road.

Home Inspection Contingency

Home inspections can be used as a contingency in your purchase offer. If the home inspector finds significant damages and defects, the contingency allows you to back out of your offer, free of penalty, within a certain timeframe. These issues must be too expensive or too significant to fix in order for you to rescind your contract.

What Happens After an Inspection

What can you do once you have your inspection?

  • If your purchase contract has a home inspection contingency, you may choose to walk away from the purchase if the problems are too significant or expensive to fix.
  • You can ask the seller to fix any small or large problems. If they will not fix them, you can ask them to reduce the purchase price or give you a cash credit at closing so that you can fix the problems yourself. This is where a home inspection can pay for itself.
  • If these are not viable options (e.g. a bank-owned property that is being sold as-is), you can get estimates to fix the problems yourself, come up with a plan for repairs, and prioritize which repairs need to be done in order of importance.

 

Overall, a home inspection can give you a clearer picture of the health of the home you are about to purchase, signify any repairs that may be needed before or after you move in, and allow you to back out of a contract if repairs would be too costly. If there are no major problems, you will at least have the peace of mind in knowing that your new home is safe and move-in ready. You are making a large investment when you purchase a home; make sure you are getting the most value out of it.

 

 

Our Mission Statement

Our mission is to be the home financing partner that you trust to serve your family, friends and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships.

About Inlanta Mortgage

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2015. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016