Why Have an Inspection?
It was a beautiful, newly renovated home. It had a new roof, siding, paint, and carpet. But, John Cranor took a closer look. The inspector of Cranor Inspections, LLC, noticed some of the plastic plumbing was melted. Some electrical wires were scorched. The seller never disclosed that there had been a fire, and that it also had mold. John says not to let the beauty of a home, even newly built, mislead you into thinking it doesn't have significant defects.
Your inspector's job is to bring to light any important problems with the house, just as John did. You might still choose to buy the house, but you will have room to negotiate the price if you can say to the owner, “Well, the home inspector says the roof is in very bad shape. He estimates it's well over 17 years old, so it's overdue for replacement.” Your comments can open negotiating for a lower price and or repairs or replacements.
Call a professional only after your offer has been accepted and you have a signed a sales contract. Make sure there is a clause in your real-estate contract that makes the sale of the home contingent on the inspection. Just make sure you have your inspection done in the timeframe specified in the contract, because if you miss the time allotted, you waive your right to an inspection.
The Cost
Home inspections can cost $150–$500, with the average running about $250. The price you pay will depend on the part of the country you are in, the size and age of the property, possible optional services (such as septic, well, and radon testing), and the individual inspector's or inspection company's rates. This is a small expense compared with an investment of $100,000 or more.
Sometimes, mortgage lenders will require a professional inspection before approving a mortgage loan. This is not to be confused with an
