Home Inspections Explained: What Buyers Should Expect

Once your offer is accepted, it is natural to want to start planning furniture layouts. Before you get too far ahead, though, there is an important step: the home inspection. It is your chance to learn about the property’s condition from a trained professional so you can move forward with your eyes open.

What an Inspection Covers

A general home inspection is a visual review of the home’s major structure and systems. Inspectors typically look at:

• Structure: Foundation, framing, walls, floors and ceilings
• Roof and exterior: Shingles, flashing, gutters, siding, windows and doors
• Electrical: Panel, wiring, outlets and safety devices
• Plumbing: Pipes, water heater, fixtures and drainage
• Heating and cooling: Age, condition and operation of the HVAC system
• Interior: Attic, insulation, ventilation and built-in appliances

A standard inspection does not usually include things like pest damage, mold testing, sewer line scopes, pool equipment or radon. If any of those are a concern, ask about specialized inspections. In coastal or older areas, a wind mitigation or four-point inspection may also be useful for insurance purposes.

What Happens on Inspection Day

Most inspections take a few hours, depending on the size and age of the home. If you can, be there. Walking through with the inspector lets you ask questions, see issues firsthand and learn practical things like where the water shut-off valve is and how to change the HVAC filter.

Bring a notepad or use your phone to take photos. Ask the inspector which items are urgent, which are routine maintenance and which are simply worth watching.

Reading the Report

A few days later, you will receive a written report, often with photos. It can feel overwhelming because inspectors note everything, from a loose doorknob to a failing roof. Try sorting the findings into three groups:

1. Safety concerns, such as faulty wiring or gas leaks
2. Major or costly repairs, such as roof, foundation or HVAC problems
3. Minor items and maintenance, which almost every home has

Focus your attention on the first two categories. No home is perfect, even new construction.

Using the Results

Depending on your contract and what the inspection turns up, you typically have a few options:

• Ask the seller to make specific repairs before closing
• Request a price reduction or a credit toward closing costs
• Accept the home as is if issues are minor
• Walk away if serious problems arise and your contract allows it

Your real estate agent can help you decide which requests are reasonable. For big-ticket items, getting a repair estimate from a contractor gives you solid numbers to negotiate with.

Choosing an Inspector

Not all inspections are equal, so take a few minutes to vet the person you hire. Look for someone licensed or certified where required, with solid reviews and experience with homes like the one you are buying. Ask to see a sample report so you know what to expect, and confirm what is included and what costs extra. Your agent can suggest names, but you are free to choose your own inspector.

Inspection vs. Appraisal

These are often confused. An inspection is for you and focuses on condition. An appraisal is ordered by the lender and estimates the home’s market value to support the loan. Both matter, but they answer different questions. If you are considering a home that needs significant work, an FHA 203(k) renovation loan may let you finance repairs along with the purchase.

Questions About Your Purchase?

An inspection is one of the best tools you have to protect your investment. If you are getting ready to buy, our first-time home buyer page covers more of the process, and a FLO Mortgage loan officer is always happy to answer questions along the way.

This article is for general education and is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines and program availability. FLO Mortgage, Company NMLS #1835856. Equal Housing Opportunity.