A home inspection is the most important step along your buying journey. When you hire a home inspector, there are some trigger questions you must ask in order to obtain all the insights that you need to make an informed buying decision.
But before all of that, you will want to know when to get a home inspection done. Should you order an inspection before or after signing the purchase agreement? Can you pull the plug on the purchase should your home inspector discovers serious problems? These are some important questions you must have proper answers to.
All your questions will be answered here, one at a time.
To start with, the home inspection takes place shortly after both the seller and the buyer signs the purchase agreement. This is when the property goes into escrow and becomes available for inspection.
To give you better clarity on when is a home inspection done, outlined below is the process of a standard real estate transaction.
- The buyer makes an offer to purchase the property.
- The seller accepts the offer.
- The buyer and seller come into a purchase agreement, which may or may not involve a deposit amount.
- The buyer then orders a home inspection service that focuses on the electrical, plumbing, foundation, HVAC and other structural aspects of the property.
- The inspector provides a detailed inspection report which helps the buyer to arrive at a conclusion.
In a typical real estate transaction, the home inspection takes place once the purchase agreement is signed by the seller and the buyer. And in case the inspection report doesn’t meet acceptable/expected standards, the buyer has two options: either back out without losing the ‘deposit amount’ or demand a heavy price drop.
A standard property inspection cost you a small amount and a couple of hours depending on the size of the property. Result? You can save tons of money and hassles.
However, for that to happen, you need to hire a certified, highly experienced home inspector who can find defects which others may not notice. Because any finding that falls through the crack will cost you big time down the line.
Therefore, even if it takes a few extra dollars to get an experienced building inspector on board, do it. The extra dollars you pay towards a thorough inspection will be nothing when compared to the huge amount you stand to save down the line.
Is there an exception when buying a foreclosure home?
We hate to bear the bad news, but you might not get a chance to order an inspection for a foreclosure home that is owned by a bank. The same holds true for auction homes.
But, whenever you have an opportunity to inspect a property, choose only the best property inspector in your area.
Alpha Building Inspections is available 7 days a week, so you can order a thorough inspection the day sign you the purchase agreement. It takes two-three hours for our inspectors to look into every structural component and system of the building. The report will be handed to you on the day of inspection, which will include digital pictures, to give you a better understanding of the property’s condition.
We are proud of the impeccable home inspection services we offer, and we back our claim with a free 90-day guarantee.
