Home Inspection FAQs
Get to know a home before you buy.
Protect yourself with a home inspection.
When it comes to buying a home, the more you know about it, the more confident you can be in making the right decision. That’s why home inspections are a must for every buyer. Home inspections give you detailed information on the physical condition of the house, and can be used as protection in your purchase offer. If the house has defects or problems revealed by the inspection, you can back out of the offer.
Even more, a home inspection can save you thousands of dollars in the long run. If the problems are too expensive to fix, you can ask the seller to fix them, reduce the purchase price, or give you a cash credit at closing to fix them yourself—this is where a home inspection can pay for itself several times over.
Home inspection FAQs
Typically, a home inspection can cost between $200 - $500.
Appraisals estimate the value of the house for the lender. Home inspections give the buyer detailed information on the physical condition of the house.
No. In fact, many mortgage lenders encourage buyers to get a home inspection for their own protection.
Yes. The report is prepared for you.
No. It is the buyer’s responsibility to obtain a qualified home inspector.
The cost to repair major deficiencies is generally negotiated between the buyer and the seller.
No. The appraisal assumes all repairs are completed, so any additional notes by the inspector will not affect the appraised value of the home.
The contract must state that “the contract” may be cancelled if the repairs indicated by the home inspection exceed a certain dollar amount. Before you sign the purchase agreement, ask your realtor or attorney to make sure you have this protection.
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Programs available only to qualified borrowers. Programs subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply.