You budgeted and saved for the down payment. Your real estate agent has found the home that meets your needs. You know that the payments are doable and you are going to be sitting down with your agent to write an offer. She/he explains about home inspections. Unlike appraisals that determine the market value of the home, a home inspection determines the condition of the home.
What you don’t want to happen is to move into your new home and discover that the windows leak the first time it rains, that there isn’t enough insulation in the attic the minute it gets into the 100 degree range or that there isn’t enough water pressure in the 1/2 bath the seller added on to take a shower (or the seller ‘forgot’ to take out a building permit or have a final inspection on the finished room). An ASHI inspector can prevent these kind of surprises from ruining the appreciation of your new home.
Your agent will also point out how important it is to have a Home Inspection contingency written into your purchase agreement. This says that you have a certain amount of time to have a home inspector look over the entire property and give you a written report showing the condition of systems and structures. See an example of a Mimbres Home Inspection HERE
You can then review the report and determine which items you want the seller to fix. The Home Inspection Contingency in the purchase contract allowed you time to have the inspection, review the report, and if you choose, to renegotiate the contract with the seller to fix the deficiencies that the inspector found. It doesn’t mean the seller will do it, but if you decide that you don’t want to go through with the purchase, you have the right to walk away. Make sure you talk to your Realtor® about this contingency. She/he is very interested in protecting your interests and will most likely be the one to bring this protection to your attention.
See an example of a Mimbres Home Inspection report HERE
