The Importance of a Home Inspection

  • February 25, 2015

You’ve found the home you want to buy and it looks like it’s in great shape. But, how can you know for sure that there are not problems that are hidden out of sight and won’t surface until you move in? That’s the value of a home inspection, uncovering any potential problems before you make an offer.
 
With a home inspection report in hand, you’ll be in a better negotiating position when it’s time to make an offer to the home seller. You might, for example, settle on a lower price, so you have funds available to make any necessary repairs. Or, you may want your offer to be contingent upon the seller taking care of the issues before you close.
 
Four different types of home inspections:
 
1. General home inspection: A typical inspection will include the home’s structure itself (including the roof and exterior walls), plus all of the systems, including electrical, plumbing, HVAC and ventilation. The inspector will also examine the home’s interior walls and structures for any defects.
 
2. Termite inspection: An untrained eye would likely miss damage caused by termites or other wood boring insects. But a trained inspector can spot problems that could otherwise cause you a lot of headaches later (not to mention costing you a lot of money).
 
3. Radon inspection: Radon is a dangerous, radioactive gas that forms in nature, usually around granite. Radon can gather in attics, basements and other confined areas. If the home tests too high for radon, remedies may include sealing water drainage systems, basement foundations and concrete floors.
 
4. Other types of home inspections: If applicable to the home, you may consider obtaining inspections of wells and well water, septic tanks and/or oil tanks.
 
 
More home inspection tips:
 
If at all possible, you’ll want to be present when the home inspector is conducting the inspection. You’ll learn a lot about your potential new home. The entire inspection may take anywhere from two to five hours. The size of the home, its age, and the area of the country will determine it the cost of the inspection.
 
Don’t skip this important step when considering purchasing a home. It will save you money in the long run!

Latest Tweets

© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender with corporate office located at 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 888-264-4663. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Illinois Residential Mortgage Licensee; Kansas Licensed Mortgage Company #MC.0001160; Massachusetts Mortgage Lender License #MC1820 and Mortgage Broker License #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; and Licensed by the Virginia State Corporation Commission #MC-5521. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. For information about our company, please visit us at www.cmgfi.com. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and NMLS Consumer Access (www.nmlsconsumeraccess.org).