Between signing and closing, a homebuyer working with a realtor or real estate agent may choose to have a new home inspected to ensure it is in good condition and safe for a new owner. Here’s what buyers and sellers should know:
What is a home inspection?
A home inspection is an evaluation of a home’s condition, where an inspector identifies potential issues in the structure, exterior, roof, plumbing, electrical systems, heating and air conditioning, interiors, ventilation/insulation, and fireplaces. It may also include tests for health-related issues like mold, radon gas, lead paint, and asbestos.
Are home inspections required?
No, but a buyer can include an inspection as a contingency in their purchase agreement. Inspections help inform buyers and highlight costly issues that might not be evident until after move-in. Some buyers may waive inspections to make their offers more appealing in competitive markets. Alternatively, they might only request repairs for major issues identified during an inspection.
Who performs the home inspection?
Certified members of the American Society of Home Inspectors (ASHI) or the International Association of Certified Home Inspectors (InterNACHI) conduct inspections. Costs vary based on property size and additional tests needed. A real estate agent or REALTOR® can assist in finding a reliable inspector and determining necessary inspections.
Who is responsible for inspection costs?
Typically, buyers cover inspection costs. Sellers might opt for a pre-listing inspection to understand the home’s condition, allowing them to manage repairs and prepare for negotiations. Sellers may offer to cover repair costs as a marketing strategy, or buyers could request sellers pay for inspections in the purchase agreement.
Can a buyer attend an inspection?
Yes, it’s beneficial for buyers to accompany the inspector. Inspectors can explain plumbing or electrical details and help buyers understand any potential or identified issues. If you can't attend, no problem - I will be there on your behalf and ensure you get a fully detailed write up from the inspector including photos.
How long does the home inspection take?
The duration depends on the home’s size and condition, generally lasting at least two to three hours. I've had them vary, multi families always take longer and condos that are small generally happen more quickly.
What are some common issues found during home inspections?
Inspection reports educate buyers on the current conditions of a home’s systems and structures, providing maintenance recommendations and future updates. Inspectors may identify issues like structural or foundation problems, improper drainage, faulty wiring, HVAC system issues, and safety concerns like tripping hazards or insufficient smoke alarms.
What does it mean if a home is listed “as-is”?
A home sold “as-is” means the seller makes no guarantees about its condition and won’t make repairs, even if an inspection is conducted. Buying as-is carries risks, so consult with your agent for suitable options. Sellers should discuss the pros and cons of listing as-is with their agents.
Practices may vary based on state and local laws. In Massachusetts it is optional to have one and lenders do not require it. We should discuss your goals and plans and decide on a case by case basis what the best course of action for you is depending on the property and conditions. I also feel it depends on the buyers knowledge for example someone who works in the trades might have more understanding of building mechanics than someone who is not handy - and that's ok!
Reach out any time with questions! I am here to be a resource for you.
