Home Inspections: The Different Types
Home inspections tend to confuse homebuyers, especially if buying a house is a first-time experience. Below are different types of home inspections you may encounter:
Primary Home Inspection
This is the most important thing to do when buying a house. It is unbelievable how many homebuyers overlook this when purchasing a property. If you want to avoid homebuyer’s remorse you need to have your future house thoroughly inspected.
As the name implies, the purpose of the inspection is to check for the presence of termites or other wood-destroying insects in a house.
Well Water Inspections
Depending on the location, some properties may involve a well water inspection to check whether the water in the area is suitable for drinking.
If the home is serviced by a septic system there will be an addendum attached to the contract you write that is county specific and calls out what exact inspection procedure is to take place per local law.
Appraisal / Appraiser’s Inspection
This inspection is conducted by the homebuyer’s lender in order to obtain an appraisal on the value of the home. The lender wants to be certain there are no problems with the house with respect to provisions in the type of mortgage sought by the homebuyer.
Final Walk-Through Inspection
This is a final inspection of the property conducted by the buyer and the real estate agent. The final walk-through normally takes place a day or two before closing / settlement. The purpose of this inspection is to ensure that any repairs agreed upon in advance have been made, and that no other issues have arisen.