Inspections are a common occurrence in the process of real estate deals. Common home inspections include checks for termites, title reviews, structural inspections, appraisals to resolve property lines and appraisals to establish value for lenders.
A general inspection of a single-family home usually takes two to three hours, and the buyer should be present. This gives the buyer the opportunity to scrutinize their purchase closely, learn more about the property and ask questions.
A normal inspection runs between $250 and $350. The size of the house and the home’s location are factors affecting the price. The structural inspection is considered the most important section. The inspector will determine if there are any physical defects and whether any major repairs are needed within the upcoming few years.
A contingency on the contract should be based on the outcome of the inspection. This will allow the buyer to shy away if any major issues are found. Ask your Realtor to recommend some reliable inspectors.
