May 27, 2016
Home inspection gives home buyers more detailed information about the overall condition of the home prior to purchase. In a home inspection, a qualified inspector takes an in-depth, unbiased look at your potential new home to: Evaluate the physical condition: structure, construction, and mechanical systems; Identify items that need to be repaired or replaced; and Estimate the remaining useful life of the major systems, equipment, structure, and finishes.
You must ask for a Home Inspection FHA does not perform a home inspection a home inspection will only occur if you arrange for one. Decide early. You may be able to make your contract contingent on the results of the inspection.
FHA Does Not Guarantee the Value or Condition of your Potential New Home. If you find problems with your new home after closing, FHA cannot give or lend you money for repairs, and FHA cannot buy the home back from you. Ask a qualified home inspector to inspect your potential new home and give you the information you need to make a wise decision.
Appraisals are different from Home Inspections An appraisal is different from a home inspection and does not replace a home inspection. Appraisals estimate the value of the property for lenders. An appraisal is required to ensure the property is marketable. Home inspections evaluate the condition of the home for buyers.
Be an Informed Buyer It is your responsibility to be an informed buyer. You have the right to carefully examine your potential new home with a qualified home inspector. To find a qualified home inspector ask for references from friends, realtors, local licensing authorities and organizations that qualify and test home inspectors.
Inspect your home’s exterior. Check for paint and stucco that’s cracking or peeling. Look for gaps in caulking around doors and windows. Examine foundation for cracks, leaks, or blocked vents.