home inspection faq

Home Inspection FAQ

1. Is a home inspection required to close my transaction?

2. When should the home inspection take place?

3. How much does a home inspection cost?

4. Who pays for the home inspection?

5. What is a home inspection report?

6. I’m buying a new home. Do I need a home inspection?

7. Do I need an inspection if I’m buying a condo?

8. Should I use a certified inspector?

Copyright 2013, LessThan6Percent

Table of Contents

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*Source: National Association of Realtors. Home Buyer/Seller Profile 2012

FAQ 1

Is a home inspection required to close my transaction?

Not always. Some lenders will require one, but regardless of

requirements, it’s a good idea for buyers to demand an inspection – even

if the property is new. Sellers, who want to repair any defects that could

delay the sale may order a home inspection before they put their property

on the market.


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FAQ 2

When should the home inspection take place?

A home inspection is ordered after a purchase agreement has been

signed and an escrow account has been opened.

If the inspector, who files a general report with the escrow or closing

agent, finds a defect in a particular system, a specialist, such as a

professional roofer, plumber or electrician will need to be called to make

the repairs.


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FAQ 3

How much does a home inspection cost?

General inspections range from $300 to $500, but depend on the size and

location of the property.


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FAQ 4

Who pays for the home inspection?

The buyer typically pays for the home inspection as part of the total closing

costs, unless a different arrangement has been agreed to.


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FAQ 5

What is a home inspection report?

A home inspection report describes the condition of a property, noting

where repairs are needed. The home inspector will provide you with a

copy and typically send an additional copy to your settlement agent.


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FAQ 6

I’m buying a new home. Do I need a home inspection?

Yes. Even new homes can have problems, and it always makes sense to

know as much as you can before buying because purchasing property is

huge investment.


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FAQ 7

Do I need an inspection if I’m buying a condo?

Yes. Unique to condos, inspectors should not only check for defects in

your unit, they should also check the general condition of common areas

and systems like gas, electrical, and roofing. It's also wise to see the

home owner’s association maintenance plan because repairs to common

areas and systems are paid for by your home owner association (HOA). It

may also make sense to review the association's meeting minutes to

learn about any issues that may require future increases in HOA fees.


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FAQ 8

Should I use a certified inspector?

“Certified” doesn’t necessarily mean that an inspector has received specialized training. Some inspectors are considered “certified” if they have paid a membership fee to a home inspection organization.Your best bet at finding a good inspector is from a referral. Ask neighbors and friends who have recently bought property. Your real estate agent can also help.

If you can’t get a referral, contact the home inspection associations that credential their members, such as the International Association of Certified Home Inspectors (InterNACHI), National Association of Home Inspectors (NAHI), the American Society of Home Inspectors (ASHI).

Shop around. Interview potential candidates and ask questions about their work experience. Ask how many inspections they conduct a year and about professional training. If you’re not sure, contact the Better Business Bureau before making a final selection.


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home inspection faq

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