A home inspection is a pivotal part of the home buying process. The inspection usually takes place after an agreed upon value of the home is established. The following is the general order of events for buying a property.
1) Pre-approval letter from a lender
2) Search for a home with an agent
3) Write a purchase agreement on home of choice
4) Hire licensed home inspector to conduct inspection
5) Appraisal is done to check homes value for the loan. The bank may require additional small repairs.
After the inspection is preformed the buyer can request repairs to be made to the property based upon the report from the inspector. Items such as insufficient insulation, plumbing, electrical issues and other deficiencies can be addressed during this time frame. However, a general home inspection is just the tip of the iceberg when it comes to assessing the safety of a property. Other additional testing such as radon, lead based paint and sewer line inspection should also be heavily considered.
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