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Home Inspection
Is the house you're buying physically fit? Is it well built? Is the furnace in good condition? How's the wiring?
There are two ways to find out if a home has any serious defects. Buy it and see. Or get a home inspection — and know before you buy. This page explains home inspections and how to use the results.
How to get a home inspection
What home inspections cover
Your role in the home inspection
What to do with the inspection report
Other kinds of inspections to consider
Sellers should consider an inspection, too
How to get a home inspection
Most buyers insist on a home inspection as part of the deal. It's not required by the lender, but it's well worth it for the peace of mind. You should include a professional home inspection as a condition in your purchase agreement. Make the sale contingent on a satisfactory inspection, with a clause requiring the seller to make legitimate repairs and giving you the right to cancel the contract without penalty if the seller refuses.
If you've signed a purchase agreement on a home and need a home inspection, contact LandSafe® Home Inspections at 1.877.LS.CLOSE or visit their website at landsafe.com. Every inspector in the LandSafe network meets the stringent guidelines set by the industry's professional organizations. And LandSafe is part of the Bank of America family. So you know you're working with the very best.
NOTE: Bank of America Home Loans may receive financial or other benefits from a referral to LandSafe Home Inspections, Inc.
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What home inspections cover
No matter how new a home is or how carefully it has been maintained, there are probably some flaws. These can be serious or minor. It's important to know any major problems before you close the sale. These are the ones that can put a serious dent in your pocketbook.
Home inspections cost a few hundred dollars and include a systemic inspection of all the major components of a home. They typically cover:
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Structural systems |
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Plumbing |
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Heating and cooling systems |
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Roof and exterior |
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Electrical system |
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Your role in the home inspection
Be sure to accompany your inspector during the inspection of the home. Your real estate agent may want to be included as well. See what exactly is inspected and ask questions about anything that concerns you.
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What to do with the inspection report
Shortly after the inspection, you'll receive a thorough report, including potential problems the inspector has found and suggestions concerning remedies for them. Now is the time to negotiate with the seller.
Sellers are often willing to make the necessary repairs or adjust the price of the home. After all, they're already far along in the purchase process with you and any other buyer's inspection is going to turn up the same problems. But use tact. And be prepared to compromise. Remember, the seller is often just as surprised as you are by the defects that have been discovered.
Three things to remember during negotiations:
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Don't think of the inspection report as a weapon to use against the seller. |
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If flaws are trivial, considering fixing them yourself in order to move ahead with the sale. |
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If flaws are major, use the report as a way to negotiate a remedy. Void the contract if you can't reach a satisfactory solution. |
Did your seller have a home inspection done? Sometimes sellers have a home inspection done before putting their house on the market. This is a great way for sellers to avoid unwelcome surprises. They may show you this report. You should still insist on your own. That way you'll have the opportunity to tour the home with a home inspector and see it yourself through an inspector's eyes.
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Other kinds of inspections to consider
You may want to include other kinds of inspections as a contingency in the purchase agreement as well. These could include: |
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Pest inspection (termites, rodents) |
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Environmental inspection (radon, lead paint, asbestos) |
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Well/septic tank inspection, if the property includes one or both |
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Pool/spa inspection, by a licensed professional, if the property includes one or both |
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Sellers should consider an inspection, too
Want to make sure the sale of your home goes smoothly? Then discover potential problems to the sale before you put your house on the market.
For a few hundred dollars, a home inspection will uncover the kind of problems that can sour a deal. By making the necessary repairs before you put your home on the market, you can have a home that shows better, sells better, and may even fetch a higher price. Your home inspection report can even be used as a tool to attract buyers, reassuring them on the quality of your home.
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. Some products may not be available in all states.