Buying a home isn’t as simple as seeing one you want and paying for it. Instead, the process involves various steps, such as securing a mortgage, making an offer and waiting for the seller to accept the offer. For most people, their real estate agent will help them as they go through this, but there are other professionals they should have involved.
As part of an offer on a home, the question of home inspections often comes up. Some people opt to put in an offer that waives the home inspection, but that’s a risky move. Instead, be sure that you have a contingency clause in place that specifies your offer is dependent upon what’s found in the home inspection.
What’s the purpose of a home inspection?
A home inspection is done by a professional who checks various aspects of the home to ensure you’re getting what you’re paying for. They’ll check things like the roof, electrical system, plumbing, major systems like HVACs, the foundation and other structural components.
If there are any issues with the home, they’ll provide the information to you in a report. You can use that information to back out of the contract if you have a home inspection contingency clause or to push for the seller to either fix those issues or provide credits so you can take care of them.
A home inspection is only one aspect of buying a home that can protect you. Other points, such as a title check and having someone review the documents of the transaction, can also offer protection as you complete this major financial transaction.