Not Covered in a Home Inspection
While a home inspection is a thorough examination of a property’s visible and accessible components, there are certain areas and systems that are typically not covered by a standard home inspection. Here are some examples,
1. Underground Utilities: Home inspectors typically do not inspect underground sewer lines, septic tanks, underground oil tanks, or buried utilities such as gas lines, water mains, or electrical lines.
2. Environmental Hazards: Home inspectors generally do not test for environmental hazards such as radon gas, asbestos, mold, lead-based paint, or underground storage tanks.
3. Pest Infestations: While home inspectors may observe signs of pest infestation such as termite damage, rodent droppings, or evidence of wood-destroying insects, they typically do not conduct comprehensive pest inspections.
4. Cosmetic Issues: Home inspectors focus on evaluating the structural integrity and major systems of a property, so they may not report minor cosmetic issues such as paint color, wallpaper, or carpeting.
Home Inspection Contingency : Importance, Clauses & Addendums
A home inspection contingency is a clause included in a real estate contract that allows the buyer to hire a professional home inspector to evaluate the condition of the property before finalizing the purchase. This contingency typically specifies a certain period of time, often around 7-10 days, during which the buyer can conduct inspections and negotiate repairs or credits with the seller based on the inspection findings. If significant issues are discovered during the inspection that the buyer is unwilling to accept or address, they may have the option to withdraw from the contract without penalty, or negotiate with the seller for repairs, credits, or a reduction in the purchase price.
Geeky Takeaways:
- The home inspection contingency provides buyers with a crucial opportunity to assess the condition of the property before committing to the purchase.
- If significant issues are uncovered during the inspection, buyers can use the findings as leverage to negotiate with the seller.
- Typically, the home inspection contingency comes with a specified time frame, often around 7-10 days.
Table of Content
- Importance of Home Inspection Contingency
- What a Home Inspection Covers?
- Exterior Inspection
- Interior Inspection
- Not Covered in a Home Inspection
- After the Home Inspection
- Is Home Inspections Worth the Investment?
- How and When to Waive the Inspection Contingency?
- Conclusion
- Home Inspection Contingency – FAQs
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