Online Class: Home Inspection 101

Taking a course on home inspection means that you have an interest in how they are performed, what to look for, and why they are necessary. There are a variety of reasons why someone would be interested in learning about home inspection. There is no right or wrong reason and yours may differ from others taking the course. No matter what your mission is with taking the course, whether for personal knowledge, because you are buying or selling a home, or you are a real estate agent, you have made a wise decision. Home inspections are a popular procedure for most home purchases and sales. Knowing more about it, whether you are in need of one or wanting to go into the career field to do them, puts you in a better position to get the most out of the home inspection process.

Home Inspection History

Did you know that prior to the mid-1970s home inspections were not a popular procedure? After becoming popular during that time they have now become a must-have for most home buyers and according to the American Society of Home Inspectors, today around 77 percent of all the homes sold in the United States have a home inspection prior to the sale. When you consider the vast number of homes sold each year it's easy to see how home inspection has become big business.

Home Inspection Defined

A home inspection is literally a thorough examination of a home prior to a purchase. A home purchase is one of the largest investments that someone will ever make in their lifetime. It only makes sense that before someone makes such a large and lasting purchase they know the ins and outs of the home they are looking to buy. Think of it this way, if you go to the store to purchase a new outfit you can try it on before you buy it. In addition to that, you can return to the clothing to the store if you get it home and decide you don't like something about it. Many stores will even give you at least 30 days in which you can return products as long as you have a receipt.

However, home purchases aren't like that. When you buy a home you don't get to try it on to see how it "fits." And there are no return policies, or rather there is no way to return the home, even if you end up not liking it, or find that it needs more repair than you had ever thought possible. You can't simply call the prior owner up and say you are returning the home and you would like your deposit and closing costs back. It's because of this, that home buyers need to be completely comfortable making a purchase and they need to go in with their eyes wide open, knowing as many faults as possible that the home may have.

Since there is no return policy on buying a house, a home inspection gives the buyer a detailed view of the condition the home is in. Even though many homes may need a great deal of repair some buyers will still choose to go through with the purchase, but it's only fair that they know what they are getting and what they can expect within a reasonable amount of time after they buy.

When Inspections are Performed

It is important to note that home inspections are not required by law. Currently there are no states that require home inspections. So many people get them because of the value and peace of mind they can bring to such a large purchase, not because they are required to do so. Home inspections are done prior to the actual purchase of a home. Most people find a home they would like to purchase and then the sale is pending the outcome of the home inspection.

Sellers of a home provide disclosures to purchasers in an effort to tell them certain things they know that are in need of repair. Laws regarding disclosures vary by state. Even those states that have laws requiring that homeowners disclose property conditions to potential buyers should still invest in the time and money it takes for a professional home inspection to be completed. Not everyone is honest about the condition of their property, and if they believe they can get away without disclosing something they may just do it, especially if they sense the buyer would back out of the sale.

Another option that should not be relied upon when purchasing a home is getting a warranty. While home warranties are great, they do not always cover everything and an inspection prior to purchase may help reveal some concerns with the property that are not covered under a warranty. Most home warranties only cover such things as heating systems and appliances. They don't cover bigger issues, like potential structural problems, such as conditions with the foundation, roof, or walls.

What to Expect

A home inspection will usually cost somewhere between $200 and $600 or so, depending upon the state, size of the home, and company conducting it. Factors that can impact the price for the home inspection include the square footage of the house, what the sales price is, how old it is, how many rooms it has, and even the market that it's located in. These costs are sometimes paid directly to the inspection company and other times it's taken directly out of escrow. This is something that will need to be discussed prior to the service being done.

A home inspection is scheduled prior to the purchase of a home. Buyers should start out by contacting several people to get rate quotes and compare qualifications. Many realtors have working relationships with home inspectors that they can refer buyers to. However, the buyers will need to evaluate their options to see who they feel is the most qualified, professional, and whom they can trust the most to do the work. Some realtors may receive a bonus or incentive for referring a particular inspector, and buyers should never feel pushed into using an inspector. It is the buyer's discretion to choose the inspector(s) that will evaluate the condition of the home.

Once an appointment is made for the inspection, the buyer has every right to be present and should be there for it. That doesn't mean they should drag the entire family there, because that could hinder the inspection progress. But it's acceptable for one or two of the buyers to be at the house during the inspection and keep tabs on the progress. While not getting in the way or slowing down the inspector, they can ask questions and bring up concerns. Home buyers and inspectors are also usually free to take a camera and take pictures of potential problems that are discovered.

The inspection process usually lasts a couple of hours, and includes various areas of the home. At the end of the inspection, the buyer will be presented with a report of the findings. They can use that report in their decision making process regarding the purchase (e.g., decide not to buy because repairs are excessive, request that the seller make repairs prior to closing on the house, accept the conditions as is and proceed with the sale, etc.).