Buying Home Inspections | Columbus Ohio Homes For Sale

Buying a home is one of the most important purchases you will make in your lifetime, so you should be sure that

the home you

want to buy is

in good condition.

Buying a

home inspection is an evaluation of a home’s condition by

trained expert. During a home

inspection, a qualified inspector

takes an in-depth and impartial look at the

property

you plan to buy.

The inspector will:

• Evaluate the physical condition: the structure, construction and mechanical systems.

• Identify items that should be repaired or replaced.

• Estimate the remaining useful life of the major systems (such as electrical, plumbing, heating,

air

onditioning),

equipment,

structure and finishes.

After the inspection is complete, you will receive a written report of the findings from the home inspector, usually

within five to

seven days.

Home Inspections Are Not Appraisals

The home inspector does not estimate the value of the house.

A property appraisal is a document that provides an estimate of a property’s market value. Lenders require

appraisals on

properties prior to

loan approval to ensure that the mortgage loan amount is not more than the value

of the property.

Appraisals are for lenders; home

inspections are for buyers. FHA, which is part of the U.S.

Department of Housing and Urban

Development (HUD), requires lenders to obtain

appraisals of properties securing

FHA-insured loans. FHA requires appraisals for

three reasons:

• To estimate the market value of the property.

• To make sure that the property meets FHA minimum property requirements/standards (health and safety).

• To make sure that the property is marketable.

About FHA Home Inspections

The FHA appraisal process will note property deficiencies that are readily observable and found not in compliance

with HUD’s

minimum property

requirements/standards (Handbook 4905.1 REV-1 and Handbook 4910.1). These

deficiencies may not be

the same as those items noted in a

home inspection report.

FHA helps individuals and families become homeowners by providing lenders with mortgage insurance for certain

loans. FHA

does not

guarantee the value or condition of your future home, and FHA does not perform home

inspections. If you find

problems with your new home

after closing, FHA cannot give or lend you money for repairs,

nor can it buy the home back from

you.

That’s why it is so important for you, the buyer, to get an independent home inspection. Ask a qualified home

inspector to

thoroughly examine

the physical condition of your future home and give you the information you need

to make a wise decision

The Bottom Line: Spending Hundreds May Save Thousands

When you make a written offer on a home, you should insist that the contract state that the offer is contingent on a

home

inspection

conducted by a qualified inspector. You will have to pay for the inspection yourself, but it could

keep you from

buying a house that will cost

you far more in repairs down the road. If you are satisfied with the

results of the inspection, then

your offer can proceed.

Contact The Anders Team about

Buying

Home Inspection

at: (614) 527-0811

Home Inspections

The Anders Team
614-527-0811

Real Estate Essentials for Home Buyers!

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