What a Home Inspection Covers?
1. Structural Components: The inspector will assess the overall structural integrity of the home, including the foundation, walls, roof, ceilings, and floors. They’ll look for signs of structural damage, such as cracks, settling, or water intrusion.
2. Exterior: This includes an examination of the exterior walls, siding, trim, doors, windows, and any attached structures such as decks, patios, or porches. The inspector will check for issues like rot, damage, or improper installation.
3. Roofing: The inspector will inspect the roof covering, flashing, vents, chimneys, and gutters. They’ll look for signs of damage, leaks, or missing shingles, and assess the overall condition and estimated remaining lifespan of the roof.
4. Plumbing System: This covers the plumbing fixtures, pipes, drains, water heater, and water pressure. The inspector will check for leaks, corrosion, proper drainage, and functionality of fixtures like sinks, toilets, showers, and faucets.
5. Electrical System: The inspector will evaluate the electrical wiring, outlets, switches, circuit breakers, and electrical panels to ensure they meet safety standards and code requirements. They’ll look for potential hazards such as outdated wiring, overloaded circuits, or improper installations.
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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