| Home inspections confuse a lot of first time home | | | | Oil Tank Inspections |
| buyers, because there are a number of different | | | | Some homes also need oil tank inspections. Some |
| inspections that take place during the home buying | | | | sellers will not allow this type of inspection, as it can |
| process. But it's important to understand the most | | | | be invasive (for example, if the oil tanks are |
| common home inspections, so we've summarized | | | | underground). In most states, the homeowner is |
| them for you below. | | | | responsible for any leaks. |
| Primary Home Inspection | | | | Well Water Inspections |
| The first inspection, of course, is your inspection of | | | | Depending on where the home is located, you may |
| the home before buying it. Believe it or not, many | | | | also need a well water test to make sure the water |
| home buyers overlook the home inspection, or else | | | | is potable. |
| don't take it seriously. They are paying more | | | | Appraisal / Appraiser's Inspection |
| attention to the size and number of rooms in the | | | | Your bank will also inspect the home in order to |
| home, rather than the condition of important | | | | obtain an appraisal on the value of the home. They'll |
| elements within the home. | | | | also want to make sure there are no problems with |
| Keep in mind that when you buy a home you, are | | | | the home, with respect to provisions in the type of |
| generally buying it in "as is" condition (unless specific | | | | mortgage you seek. FHA mortgages, for example, |
| provisions are added to the contract saying | | | | require the home to have certain features in place |
| otherwise). For this reason, you want to make sure | | | | and be in a specific condition. Therefore, the bank will |
| you know what is, and is not, working in a home. | | | | do an inspection to protect their interest in the home. |
| You'll also want to know what repairs you might | | | | Final Walk-Through Inspection |
| have to make, or what repairs you might ask the | | | | The buyers will do an inspection near the end of the |
| seller to make. For all of these reasons, the primary | | | | real estate transaction to make sure the house is in |
| home inspection is essential. | | | | the same condition it was when they agreed to buy |
| Engineer's Reports | | | | it. During this final "walk-through," you'll want to |
| Prior to signing a contract, most home buyers hire an | | | | ensure that everything is in working order, and that |
| engineer to do what is typically referred to as an | | | | the house has not been damaged in any way since |
| engineer's report. This detailed inspection is done on | | | | you first signed the contract. |
| behalf of the buyer and will conclude with a detailed | | | | As each of these inspections take place, keep in |
| report on the condition of the home, its electrical | | | | mind that no home is perfect. You'll need to weigh |
| system, plumbing, heating, roof, foundation, etc. In | | | | the pros and cons of every home in order to make |
| some states, this is part of the primary home | | | | the right purchasing decision. It's also a good idea to |
| inspection mentioned above. | | | | have an off-the-record conversation with all of the |
| Termite Inspections | | | | inspectors to get additional insights, if they are willing |
| About the same time as the primary home | | | | to give them. |
| inspection, you will likely have a termite inspection. As | | | | All in all, you can expect a number of inspections to |
| the name implies, this inspection checks for the | | | | take place during your home buying process. These |
| presence of termites or other wood-destroying | | | | inspections are for your benefit, as the home buyer, |
| insects within the home. This inspection is done on | | | | so you need to take each inspection seriously and |
| behalf of the buyer and the mortgage company. In | | | | consider the outcome carefully. |
| most cases, you will have to provide a copy of the | | | | * You may republish this article online if you retain |
| inspection for your mortgage lender. | | | | the author's byline and the active hyperlinks below. |