Are home inspections important?

Remember the old saying advising against “buying a pig in a poke?” This statement, dating from the Middle Ages, means buying something sight unseen usually resulting in buyer's remorse.

 

First your Personal Mortgage Advisor will tell you that a “home inspection” is not the same as a “home appraisal”. An appraisal is used to help establish the value of a piece of property. Home inspections will tell you what is right or wrong with the house, what to do to correct things, and how much it might cost.

 

Although a home inspection is not required in all states that Nations Lending lends in, an inspection can bring to light potential or existing issues with a home before you get to deep into the process. This documented, professional opinion of a home is based on a visual evaluation and operational testing of the home’s systems and components to determine their current condition. We tell our clients that a home inspection should cover at least the following: foundation, walls, roof, insulation, windows, doors, kitchen, bathroom, laundry, water heater, furnace, ventilation, air conditioning, electrical systems, plumbing and outdoor areas.

 

Talk to your real estate agent about how to possibly include an inspection contingency in your purchase offer and to have your prospective home professionally inspected. Having options through a contingency written into the contract is a good thing when purchasing a property.