Recipe for a Successful Home Inspection

When you're buying a house, a home inspection should be one of the main ingredients in the final contract. Much like an appraisal, a home inspection will result in a detailed report that you can share with your team and use as a tool in final negotiations. If your contract with the seller includes a "general inspection clause", and the report turns up major repairs, you can choose to renegotiate the deal or back out of it altogether. These days, most buyers opt to fork over the money for this priviledge.

If you want to bring this important element to the table during your negotiations, you'll have to budget for it in your closing costs and find yourself the best inspector you can find. He or she will inspect and report on a variety of building elements that are not adequately covered in an appraisal. Here's a list of the main ingredients that go into the final report:

Ingredients:

-Description and report on the structural elements of the building
-Description and report on the exterior elements of the building
-Description and report on any building-wide systems and components
-Description and report on the roof and attic
-Description and report on the plumbing systems
-Description and report on the electrical systems
-Description and report on appliances

Method:

-An inspection takes between 2 and 4 hours on average
-It will cost you between 300 and 800 dollars (depending on square footage) and
-You will need a qualified, bonafide home inspector

This last element shouldn't be underestimated. It's said that a home inspection can only be as good as the home inspector. So do your homework and shop around before you choose this important member of your real estate team. Experience in the building industry and reputation are perhaps your best indications of expertise.

Article Source: http://www.propertymagnate.com/articles

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