Home Inspection

Home Inspection Before Starting The Mortgage Process

Gustan Cho Associates are mortgage brokers licensed in 48 states

This guide covers home inspection before proceeding with the mortgage process. A home inspection is an inspection of a home purchased by home buyers where they hire an independent home inspector to go over the subject property with a fine toothcomb. Lenders do not require home inspections. It is voluntary for the buyers to have an inspection done. However, it is highly recommended. Home inspections are done before the home appraisal. This article will discuss the importance of property inspection before proceeding with the mortgage process.

What A Home Inspection Entail

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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 are 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 a different look.

Do Mortgage Lenders Require a Home Inspection?

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 are normally done before 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

The majority of inspectors have the same home inspection process. The inspection depends on the individual inspector and the policies of the 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 in good working order. If the subject needs a specialist, the inspector will note the concern and recommend hiring one. For example, if the home inspector notices a potential problem on a well, he may not have the concerns that he recommends a good inspection. The home inspection report is normally ready a few days after the site inspection.

Wear and Tear Home Inspection

Normally estimate the longevity of the functionality and the age of the item inspected, such as HVAC units, leaks, wiring and electrical, mold, termites, roofing, gutters, soffits, fascia, foundation, windows, and other items. Specialty defects such as well and septic will be noted on the home inspection report. The home inspector may recommend a special inspection be done if it is a specialty defect.

Home Inspection of Safety and Hazard Issues 

Home inspectors will also check for hazards and inspect for safety issues. Home inspectors will check for items that are 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 also be checked, and will note if the appliances need to be replaced soon. Pest control inspection and mold remediation inspectors are separate home inspection specialists. If buyers want a full detailed report, they need to hire these specialists separately, aside from the general home inspector.

Why Hire a Home Inspector?
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 on moving costs and new furniture. However, a home purchase is probably a person’s biggest investment. A home inspection should be considered an insurance policy protecting one’s investment. Many sellers will window-dress their homes before listing them 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 are not visible to the naked eye.

Hiring a Home Inspection and Home Inspection Company

A home inspector is a professional who knows exactly where to look and what items to look for in inspecting properties.  Things that are 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 or ventilated. Also, work that has been done without proper building permits and which are safety hazards will be revealed.

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  1. Thank you for underlining that one of the many benefits of home inspection services is that they will determine the condition of our home. My sister bought a new house and she will be moving in soon. However, I will get her to hire a home inspection service to ensure the condition is well. I like to thank Michelle McCue of Gustan Cho Associates for referring me to the best home inspectors in the Chicagoland area.

  2. My sister would like to buy a residential house this year, which is why she’s thinking of having it inspected for radon too since the latter may cause a tremendous health issue. Well, you made a pretty good point that inspection is highly recommended. Anyhow, thank you for sharing here that this must be done before the appraisal too. I want to purchase a Condotel in Daytona Beach, Florida. I just paid off my home loan and looking for a Vacation home. I found one that I like, so I am very interested in getting some financing. Thanks,

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