First Time Homebuyers Q&A Part 5

By Heather Faucher | Posted on July 31, 2009 | Filed Under Real Estate 

Check out Part 1, Part 2, Part 3, and Part 4 of this semi-regular series.

SO I FOUND MY DREAM HOME! NOW WHAT?

19. WHAT ABOUT HOME INSPECTORS? WHAT DO THEY DO, AND HOW IMPORTANT ARE THEY?

Let’s tackle the last question first: EXTREMELY important! A home inspector is an expert in the safety, structure, and condition of homes. Once you hire an inspector to examine the home you’re considering purchasing, the inspector (we’ll use the pronoun “he” here on out just for convenience’s sake) will check the safety of the house, focusing mainly on the structure, construction, and mechanical systems of the house. He will also clue you in to any repairs that the home needs–something that is vital to know before you purchase the house and all problems become yours to take care of.

What doesn’t the inspector do? He’s not going to tell you whether you’re getting good value for your money–that’s up to you to decide. The inspector will check the electrical system, plumbing, waste disposal, water heater, insulation and ventilation, HVAC system, water source and quality, the foundation, doors, windows, ceilings, walls, floors, roof, and potential pest problems. He’ll also give you an estimate on how much any needed repairs will run you. Just a word of warning: don’t skimp when it comes to hiring a home inspector. Make sure you’re hiring one that is qualified, experienced, and will guarantee his inspection. Also, make sure you have the inspection before you sign a written offer, or else make sure the sale is contingent upon the home inspection. These inspection clauses give you an “out” on buying the house should serious problems be found, or may allow you to renegotiate the purchase price to reflect any major repairs. Alternatively, the seller may get the right to fix the problems before the sale closes.

20. SHOULD I BE THERE FOR THE INSPECTION?

While it’s not required, it’s definitely a good idea. Once the inspection is completed, the inspector will be able to answer any questions you might have about the report and show you the problem areas firsthand. It’s also a great opportunity to get an expert, objective opinion on the home you’re considering, and to ask any general maintenance questions you might have.

21. ARE ANY OTHER INSPECTIONS REQUIRED?

Your home inspector may recommend a more specific inspection if he discovers any major problems. You may also consider having the home inspected for any potential health-related risks such as radon gas, asbestos, mold, or problems with the water or waste disposal system.

As a first-time home buyer, find the real estate contracts you need to cover all your bases.

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