A home inspection can be handled in a different manner depending on the state where you live. Generally, a home inspection will be an integral part of the contract. This simply means that the buyers have the power to cancel the contract or to negotiate some repairs depending on the result of the inspection. There are also some instances when the inspection will be conducted before entering the contract phase.
Different Types of Home Inspection
The general type of home inspection will involve several components. Most of them can be visual and structural which means that they can be anything that the home inspector can see. Most of the inspectors are not qualified or licensed to discuss issues that go beyond their area of specialization. For instance, in case there is a reduction in the water pressure, the inspector will only keep that on their note and will advise the buyer to hire the service of the plumber to verify the issue. There may be a possibility that the pipes have been corroded or a root is growing within your plumbing system. Other specialist inspectors that the home buyer can hire include pest and termite’s inspection in case they noticed disintegration in the structure of the home. They can also seek the help of the chimney inspector if there are issues on the integrity of the chimney. If the home inspector noticed an issue on the power supply, an electrical inspector may conduct the inspection on your property. There are other inspectors that can specialize in zoning and permits, formaldehyde, asbestos, methane gas, mold, soil stability, roof inspection and others.
Is There an Expiration Date for Home Inspection?
To determine the release date of the home inspection, you should look at the contract. Depending upon the details of the contract that the seller and buyer agreed upon, the contingency will not expire automatically, unless the buyer decided to take the appropriate action like signing the home inspection release. Nonetheless, if the report of the findings surpassed the expiration date of the contingency, then the deposit of the buyer can be at risk especially if you decided to cancel the contract due to the issues listed at the report of the home inspector. When you enter a sales contract that comes with a home inspection clause, it is best to conduct this inspection immediately. There is a possibility that your home inspector will advise you to hire a specialist to verify the severity of the problem. It is quite impossible to find the entire necessary specialist within a specific time frame. To make the entire process more convenient, you can seek the help of a qualified real estate agent. They will have the power to coordinate all necessary inspections and submit the findings before the expiration of the contingency. In case you find this process time-consuming, and complicated, you can look for cash home buyers who will buy your property in its current condition. This means that the sellers will never have to conduct repairs stated in the report of the home inspector.