Having a home inspection is an important step in the home buying process. Even if you are buying a home ' As Is ' you should hire a home inspector .
When you prepare the agreement of sale make sure you have the home inspection contingency.
Based on terms of the agreement of sale , the inspection may give you an opportunity to either walk away from the deal if there are items that need to be fixed, or have the seller give you credit for repairs or get things repaired.
The home inspection should not be used as a tool to get a lower price than the one already negotiated . Please remember that the seller may not agree to repair nor to give you credit. If the seller already disclosed the items that need repair and you offered a low price considering the cost of repairs , the seller's agent will advice the seller accordingly.
Lenders should approve the credit if it is agreed upon between buyer and seller. If sellers agree to repair the items please ask for receipts and make sure that permits are obtained if required by township.
When the home is a foreclosed home banks usally sell it in as is condition. Most relocation companies also have similar policies.
The inspector will give you a report mentioning items that are of major concern and items that need routine maintenance and things that are normal considering the age of the property.
You should be present at the home inspection so that you can ask questions . The inspector will also give you tips that will be very useful if you are a first time buyer.
Time is of the essence and if your agreement of sale says you will have the inspection report in x days you should inform the seller within the time frame.
Your agent will advice you about all other inspections that may need to be done eg termite, radon,mold, well and septic and many more.