Expectations of a Home Inspection Report

Expectations of a Home Inspection Report

As there are several steps taken during the home buying process, so there are a number of occurrences expected, but unfortunately some things arise which are not expected and it is the unexpected occurrences that most home buyers wish to protect themselves against, and as such, take steps to lessen unexpected – and in more cases than not, unpleasant – surprises that are often expensive, or can lead to injury. Thus the need for the following necessary items:

•  Homeowner's hazard insurance policy
•  Property appraisal report
•  Title insurance report
•   Home inspection report

Other protective items that include termite inspection and report, radon detection and smoke detectors.

Each of the above items obviously serves an important purpose, but in order to put that purpose in proper perspective, it is necessary to ask this question: What can each item do for me, that I cannot do for myself? Let's now proceed with the most likely answer(s) to this question with regard to each item.

A homeowner's hazard insurance policy must be issued by an insurance company licensed and bonded with authority to do business in the state where the property is located; and based on this qualification there aren't many among us who can self-insure our homes, making this service one that must be obtained from a third party professional or reputable entity that specializes in the property insurance field.

A property appraisal report must be issued by a licensed and certified property evaluation specialist after careful and diligent inspection of the subject property in order to determine its value, and certify to lender and buyer that the price being paid for it is not higher than the actual value. Based on this report, the lender will issue a mortgage equal to a predetermined percentage, thereby causing the price to be adjusted if it is indeed too high. Although there are many property appraisers among us, the property appraisal must be provided by a third party professional or reputable entity that specializes in property appraisals.

Title insurance protects a buyer from claims against the property s/he has purchased for as long as s/he owns the home, so that if anyone (relative of a previous owner?) challenges the title to that home at any time after the insured's ownership, and before its sale, the title insurance company meets that challenge on the home owner's behalf, and protects him/her against loss of title or money. Title insurance companies must be recognized as legal entities permitted to conduct business in the state where the property is located. It is also third party professional or reputable entity that specializes in title insurance.

A home inspection report serves the purpose of detecting and highlighting those areas in a home that are not readily accessible to most buyers. Similar to the appraisal report, the home inspection report must be completed by a professional individual, licensed and certified to do business in the state where the property is located. But lenders do not make the approval or issuance mortgage subject to a home inspection report, as they do with the first 3 services; and the absence of this lender requirement is the primary difference between the home inspection report and the others; but the question still remains. What can the home inspection report do for a buyer that s/he is incapable of doing?

Let's take a look at the “unseen” areas of a home that are included in a home inspection report before attempting to answer this question. As some areas of a home are readily visible for anyone to see and evaluate – though such evaluation will be limited when done by an untrained person – for himself or herself, it's usually the areas which are hidden from view (e.g. behind walls, in crawl spaces, some roof tops, and other such areas) that must be inspected for defects, and which makes the services of a home inspector most valuable. Such are as follows

• Retaining Walls
• Wall Structure
• Window Wells
• Roof Components, including: Roof covering, roof leaks, skylights, gutters & downspouts, exposed flashing, etc.
• Plumbing System, including: Water entrance, pipes, waste, drain, vent pipes, etc.
•  Electrical System, including: Circuits and conductors, service entrance cable, outlets, etc.
•  Attic, including: Access, ventilation, roof frame, vent pipes and flashing, ceiling frame, moisture and mildew, insulation, sheathing, etc.
• Basement and Crawlspace, including: Foundation, column stairs, sump pump, walls, ventilation, vapor barrier, floor joists, dampness, sewage ejector, etc.
• Heating System
• Air Conditioning, including: Type, air distribution, electrical disconnect, etc.
• Garage and its structure
• All other areas that are visible to the naked and untrained eye which might seem solid, but which, when viewed through the eyes of a home inspector, might be found to be less than they appear to be.

So what you should expect from your home inspector is essentially a comprehensive report outlining all current problems that were undetected by you, at the time of your visits to the home, and all future problems you could expect and therefore be prepared for. Based on your own inspection of the home and all that impresses you about it, gives you a pretty good idea of everything that is good about the home, so you don't need someone else to point these positive things out to you.

You need someone to find any defect(s) that could flare up as one of those unpleasant surprises which could be financially – or in some other way – detrimental to you or your family. That is basically one way to answer to the above question.