Home inspections. What they ARE and ARE NOT.

At this point in the process you've gone through the property pretty thoroughly with your Realtor. You may have noticed things that were not working, or that caused you some concern.  Bring them up when you negotiate the purchase agreement. This is the time to get 99% of the details ironed out.  Once you have a signed purchase agreement and negotiated a price, terms and closing date for the home you'll want to complete the home inspection.  Of course, you wouldn't buy the home without one. This usually occurs within a few days (3-5) of signing the purchase agreement.

This is your opportunity to learn about the house. You'll want to attend. (You'd be surprised how many buyers spend $300-$400 and only read the report from the inspector.)  Find out where the gas, and water shut-offs are.  Do all the doors and windows open and close? What are the inspectors suggestions for home maintenance? Are there quirks about the house (a light switch in the kitchen turning on the light on the garage). What kinds of things will I want to pay attention to after I move in.

A Home Inspection is not

It is not time to "get" the seller. Once in a while the inspection will turn up things about the house that may not be quite right.  If it's a significant issue.  An issue that you feel so strongly about that unless it's fixed you can't see yourself purchasing the house, by all means bring it up!   However, this isn't meant to be an opportunity for you to re-negotiate the price because of little things found wrong with the house.  In Minnesota, if you raise objections after the inspection, you are opening an opportunity for the seller to back out of the agreement.  Ask yourself, how badly do you want this house? Don't lose the house over a $5 GFCI outlet, or a $3 backflow preventer. 

Don't ever be afraid to pull in another expert for a second opinion on an issue raised during your inspection. You may need to figure out how much something will cost to fix. Sellers will usually work with you on this. Remember, they put the house on the market to sell it, and you put an offer in because you want to buy it. 

Ask your Realtor for guidance when negotiating.  He/She has your best interests at heart and can help you through any issues that come up from the inspection.