Get a home Inspection                                                                        Next >>

Home inspection is an important part of a home buying process. Of course, it costs money. Usually in the range on $250 - $500 depending upon the home and area. Many home buyers deny home inspection when purchasing a newer home. But this is something that SHOULD NOT be avoided. Get one done, even if it is a brand new home. Remember, this inspection reveals issues in the home that may have to be fixed atleast later, if not immideatly.

ASK THESE 10 QUESTIONS BEFORE YOU HIRE AN INSPECTOR!

Remember this: Spending hundreds of $$ now, may save thousands later!!

This is one such inspection where you also get an opportunity to know your future home better. Ask a lot of questions to the home inspector while he is in the home. If the inspector is not answering your questions satisfactorily, conside hiring a new one. Buying a home is one of the most important purchases you will make in your lifetime, so you should be sure that the home you want to buy is in good condition. A home inspection is an evaluation of a home’s condition by a trained expert. During a home inspection, a qualified inspector takes an in-depth and impartial look at the property you plan to buy.

The inspector will:

• Evaluate the physical condition: the structure, construction and mechanical systems.
• Identify items that should be repaired or replaced.
• Estimate the remaining useful life of the major systems (such as electrical, plumbing, heating, air conditioning), equipment, structure and finishes.

Home Inspections Are Not Appraisals

A property appraisal is a document that provides an estimate of a property’s market value. Lenders require appraisals on properties prior to loan approval to ensure that the mortgage loan amount is not more than the value of the property. Appraisals are for lenders; home inspections are for buyers.

FHA, which is part of the U.S. Department of Housing and Urban Development (HUD), requires lenders to obtain appraisals of properties securing FHA-insured loans. FHA requires appraisals for three reasons:

• To estimate the market value of the property.
• To make sure that the property meets FHA minimum property requirements/standards (health and safety).
• To make sure that the property is marketable.

The FHA appraisal process will note property deficiencies that are readily observable and found not in compliance with HUD’s minimum property requirements/standards (Handbook 4905.1 REV-1 and Handbook 4910.1). These deficiencies may not be the same as those items noted in a home inspection report.

About FHA Home Inspections

FHA helps individuals and families become homeowners by providing lenders with mortgage insurance for certain loans.

FHA does not guarantee the value or condition of your future home, and FHA does not perform home inspections. If you find problems with your new home after closing, FHA cannot give or lend you money for repairs, nor can it buy the home back from you.

That’s why it is so important for you, the buyer, to get an independent home inspection. Ask a qualified home inspector to thoroughly examine the physical condition of your future home and give you the information you need to make a wise decision.

Finding a Qualified Home Inspector

As the homebuyer, it is your responsibility to carefully select a qualified inspector and pay for the inspection.

The following sources may help you find a qualified home inspector:

• State regulatory authorities. Some states require licensing of home inspectors.
• Professional organizations. Professional organizations may require home inspectors to pass tests and meet minimum qualifications before becoming a member.
• Phone book yellow pages. Look under “Building Inspection Service” or “Home Inspection Service.”
• The Internet. Search for “Building Inspection Service” or “Home Inspection Service.”
• Your real estate agent. Most real estate professionals have a list of home inspectors they recommend