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Inspecting Your Home

After your offer on a home has been accepted, it’s time to inspect thoroughly the property and make sure everything is in acceptable condition and you absolutely wish to purchase. If you change your mind about purchasing, this inspection contingency period allows you to withdraw from the deal. Elizabeth Smartt explains what homebuyers should assess during the inspection period: the overall condition of the home, the roof, the sewer/plumbing connections, pest history, the foundation, the heater and the electrical system.

The Inspection Contingency Period

So, you’ve made an offer on a home and it has been accepted. Congratulations! Within the escrow period, there is the inspection contingency period for you to look into all of the nooks and crannies of the house to make sure it is the perfect home for you. And, if you do find any significant faults, the inspection contingency provides the ability to pull out of the contract.

Now, you probably aren’t an expert in foundations or furnaces or termites, so you have to get the experts in to inspect your home. But, what should you expect to inspect? Of course, every home is different in size, history, style and more, but this is a general list to set you on the right path to a successful completion of your inspection contingency period.

General Home—A look at all of the basic systems in the house, from heating and electrical to roofs and windows. The general home inspection can sometimes lead to additional specialized inspections.

Roof—An examination of the age, style and condition of the roof.

Sewer Lateral Inspection—This inspection looks at the plumbing connection from the private home to the city’s sewer system to find any possible leaks or seepage.

Pest and Structural—A investigation of any termite infestation or basic structural defects.

Foundation—A detailed investigation of the home’s basic foundation.

Heater—An examination of the age, type and condition of the home’s heating system.

Electrical—An examination of the age, type and condition of the home’s electrical system.

Plumbing—An examination of the age, type and condition of the home’s plumbing system.

The cost of these inspections can vary from free to several hundred dollars, so make sure to budget that into your plans.

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