Whether you’re planning to buy a home, or selling your home in Chicago’s southwest suburban area, it’s a good idea to understand what home inspections cover, and how it can affect the purchase of your home.
What is a Home Inspection?
A home inspection is an examination of the structure & systems of a home; usually performed by a professional home inspector. The inspection shows you problems or potential problems with the property, and if it is serious enough, it affects the purchase of the home.
Three main purposes of the inspection
• To evaluate the physical condition of the property
• To identify needed repairs and replacements
• To estimate the remaining life of the systems, equipment, structure and finishes of the home.
A home inspector can’t report the problems when they aren’t visible, such as defects hidden behind walls or beneath carpeting, for example.
When You Hire a Home Inspector
When you decide to hire an inspector, you should get a recommendation from your Realtor. When you interview home inspectors, always ask for references. You should also ask about their professional training and experience.
Be present during the inspection
1) Ask your home inspector questions during the process
2) Your inspector can show you areas in the home with potential trouble
3) Your inspector can offer maintenance tips
Making Suggestions on Repairs
Even though the seller is not required to make any repairs on the home, the buyer can use the inspection report as a negotiating tool. For example, if specific repairs are not made, the buyer can ask for a credit at closing for the cost of the repair.
Cost and Time Involved with a Home Inspection
A home inspector’s first priority is accuracy, and that takes time. There is a good chance that mistakes can be made if your inspector rushes through the process. The home inspection could take between two and five hours. Older homes usually take longer. The inspections will range in price depending on size of the home.
Remember, a home inspection is definitely an important investment when purchasing a home!