Home inspections are important clauses to include in a purchase agreement. They provide buyers with the opportunity to uncover any potential issues with the property in questions before signing on the dotted line. Typical inspection periods last anywhere between 10 – 15 days. Before you go out and hire a home inspector, check out the following list of things you should know about these inspections first.

1. Buyers are responsible for scheduling and paying for inspections

Many buyers may not be aware that they are the ones responsible for organizing an inspection, hiring a home inspector, and paying for these services.

2. General Inspections don’t cover everything

While home inspectors are able to identify any number of potential problems with a home, the wont be able to uncover every issue. In general, home inspections cover things such as plumbing, electrical, wiring, HVAC systems, attics, and the condition of floors, ceilings, and walls. They don’t however, cover chimneys, septic tanks, sheds, or anything that is behind walls.

3. Not all serious issues may necessarily be discovered

Since inspectors are not ripping down drywall or floor times, its possible that major issues may go unnoticed during the inspection.

4. Buyers should be present during home inspections

While not mandatory, buyers should take the opportunity to show up to their home inspections. This will give them a chance to ask questions they may have on the spot.

5. Buyers should receive a report once the inspection is done

Being present during the inspection is certainly helpful and educational, but having a written report will provide all the details of the inspection on paper. Once the inspection is done, the inspector will take a day or two to compile all of their findings in a written report along with photos of the areas that require further attention.

6. Buyers have options depending on what’s identified during the inspection

For the most part, home inspections typically uncover minor issues that are typically simple and affordable to fix. However, if major issues are discovered that could compromise the integrity of the home and require significant and expenses repairs, buyers have the option to either renegotiate with the seller or simply walk away from the deal together.

7. Inspectors should be licensed and/or certified

It’s not enough to simply hire someone who has a lot of experience with home construction to conduct an inspection, such as a builder or contractor. Professional home inspectors are specifically educated and trained on how to uncover issues with homes that the average person would likely miss. As such, the inspector that is hired should be specifically certified as such.

8. Buyers can skip the inspection, but this is not generally advised

There are situations where inspections are waived in a purchase agreement. For instance, buyers who are planning to tear down the home and rebuild a new one likely wont care too much for an inspection. Bidding wars are other scenarios where offers come in “clean” with no contingencies. However, in just about every other situation, a home inspection should not be skipped, even though buyers have the option to do so if they choose.

Bonus tip – During the course of the inspection, many inspectors will have gathered all the necessary information for a windstorm mitigation report and a four point inspection report.  These types of reports may reduce your homeowner insurance premium.  Your insurance company may require a four point report if the home is older.