Home Inspection Prior To Proceeding With Mortgage Process

This Article Is About Home Inspection Prior To Proceeding With Mortgage Process

A property inspection is the inspection of a home purchase by home buyers where they hire and independent home inspector to go over the subject property with a fine tooth comb.

  • Home inspections are not required by lenders
  • It is totally voluntary for the buyers to have an inspection done
  • However, it is highly recommended
  • Home inspections are done prior to the home appraisal

In this article, we will cover and discuss the importance of property inspection prior to proceeding with mortgage process.

What A Home Inspection Entail

Home inspectors will generally inspect both the interior and exterior of the home such as the following:

  • HVAC systems
  • windows
  • appliances
  • millwork
  • kitchens
  • bathrooms
  • attic
  • basement
  • exterior siding
  • roofing
  • gutters
  • foundation
  • inspect the house for general mold and termites

A home inspector is not an expert in all areas. Home inspectors is generally knowledgeable in basics where. If the home inspector sees a potential problem with an item in the home, the inspector will note it in his report and recommend that a specialist take further look at the item.

Is Home Inspection Required By Lenders?

A property inspection is not required by mortgage lenders unless an appraisal notes on his appraisal report about issues on the home where then the mortgage lender can require an inspection.

  • A property inspection is highly recommended for all home buyers
  • Inspections is normally done prior to the appraisal
  • If a home buyer does not like the inspection report, then buyers can back out and cancel the real estate purchase transaction

A typical inspection normally costs between $300 and $500, depending on the county and state of the subject property.

Home Inspection Process

Majority of inspectors have the same home inspection process. The inspection depends on the individual inspector and the policies of their company.

  • Inspectors will normally inspect any minor as well as major defects that he or she finds on the home they inspect
  • They will note whether the inspection item they inspect is functional and good working order
  • If the subject matter needs a specialist, the inspector will note the concern and recommend hiring a specialist
  • For example, if the home inspector notices a potential problem on a well, he may not his concerns that he recommends a well inspection

The home inspection report is normally ready after a few days after the site inspection.

Wear And Tear Inspection

Are Property Inspections Required By Lenders?

Normally estimate the longevity of the functionality and the age of the item inspected such as the following:

  • HVAC units
  • roofing
  • windows
  • other items

Safety And Hazard Issues 

Home inspectors will also check for hazards and inspect for safety issues:

  • Home inspectors will check for items that is not visible to the average human eye
  • They have tools to test for mold and structural issues
  • Appliances and the remaining life of the appliances will be checked as well and will note if the appliances need to be replaced in the near short term
  • Pest control inspection and mold remediation inspectors are separate home inspection specialists

If buyers want a full separate detailed report, they need to hire these specialists separate aside from general home inspector.

Why Hire A Home Inspector?

There are a lot of costs and fees in the home buying process.

  • Many buyers want to save every nickel and dime so they can spend it on moving costs and new furniture
  • However, a home purchase is probably the biggest investment a person will make in their lifetime
  • A home inspection should be looked at as an insurance policy and protecting one’s investment
  • Many sellers will window dress their homes prior to listing it in the market
  • All homes will look like everything is functional and in mint condition

However, there could be many issues with the subject property that is not visible to the naked human eye.

Hiring An Inspection And Home Inspection Company

Why Hire A Home Inspector?

A home inspector is a professional who knows exactly where to look and what items to look for in inspection of properties.  Things that is revealed by many inspectors that surprise buyers are prior water damage, foundation cracks, prior termite damage, and mold behind the drywall that is not visible to the human eye.  Other issues inspectors reveal are homes that are not properly insulated nor ventilated. Also work that has been done without proper building permits and which are safety hazards will be revealed.

Related> Hiring a home inspector

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