Timeline & Paperwork
One important step before you finalize your real estate offer could help you avoid costly home buying mistakes. Hire a professional home inspector to give the house a standard inspection that includes:
- Room-by-room review
- Exterior home components
- Electrical systems
- Foundation and structural components both interior and exterior
- Heating/air conditioning systems
- Plumbing systems
- Attic/basement/crawl spaces
Once you have arranged for a home inspection, you may want to plan to accompany the inspector for the entire procedure. You have the right to be there, and leading home inspection companies will encourage your presence. It helps you to better understand the findings in the report and will reduce post-closing surprises. Don't forget your list of questions and items of concern.
A thorough home inspection covers more than 1,000 items, everything from foundation to roof, and takes two to three hours depending on the size and age of the property. The report should reflect the condition of about 400 items. A typical inspection can range from $300 - $600.
Some common items a home inspection could uncover are:
- Maintenance problems such as rotting decks, paint chips, water damaged ceilings, etc.
- Electrical problems (even faulty fuses can lead to bigger difficulties in the future)
- Drainage problems, which could include water intrusions below the home
- Roof leaks and defects from aging
- Poor ventilation, especially in an attic; this is the time to assure that all vents are clean and working properly
- Excess air leakage due to poor weather stripping and subpar caulking around fixtures
- Failed window seals, which are routinely found with dual pane windows
- Environmental contamination caused by asbestos, mold, formaldehyde, lead paint, radon, soil contamination and/or water contamination
- Faulty lines in water heaters, overflow piping and/or hazardous flue conditions