It’s strongly recommended to have a home Inspection completed whether you are selling or buying a home. Professional home inspectors who are licensed, bonded, and insured should perform the home inspection.

The purpose of home inspections is primarily to safeguard the interests of the buyers as well as to expedite closure of the deals. Buyer should know what are the physical conditions of the home they want to purchase. The following are some of the systems and areas that home inspectors will look at to determine functionality or defects in the property.

• Structural integrity, foundation, framing etc
• Roofing
• Electrical systems
• Plumbing and Sprinkler systems
• Heating & Air conditioning systems
• Termite
• Water heater, appliances
• Pools, Jacuzzi
• Hazardous substance, septic tanks
• Cosmetic conditions, floors, paint, etc

Before listing a property on the market, sellers should order a home inspection to find out if their home might contain any deficiency. Many home inspection reports are satisfactory with no defects. Nevertheless, if the report discloses deficiencies, it would be in the best interest of sellers to make the necessary repairs thus to improve the quality and marketability of their home before listing it on the market.

Many sellers may choose not to fix the deficiencies and to sale their home “as is”. There are large numbers of older homes listed for sales, which have not been upgraded for many years. Realistically, such properties could have major deficiencies and many owners of older properties are not even aware that their home may have defects. It is always in the best interest of the sellers and buyers to have the home inspection. If the inspection report discloses major problems, it may be in the best interest of buyers to cancel the deal. Otherwise, depending on the nature of disclosed defects, buyers should demand that sellers fix all defects prior to closing of the deal.

It’s strongly recommended that buyers purchase offer include a contingency for the inspection of the home. Buyers must insist on a professional inspector hired by buyers. Should there be any deficiency, the inspector will disclose any and all problems, code violations and related cost of repairs.

Should the inspection report be of major concern, it may be in the best interest of buyers to cancel the deal. Cancellation must be in writing before expiration of the contingency period. To cancel the deal, buyers should serve written notices to escrow, listing agents and sellers before expiration of the contingency period. Consequently, buyers can walk away from the deal with out any liability and escrow would refund to buyers their good will deposits.

An experienced mortgage professional can make sure buyers are fully protected and insured against any unforeseen or undisclosed defects when purchasing a new home. However, some mortgage brokers and agents will try to skip completing a home inspection to speed up the process of a home purchase, ignoring the effects it will have on the buyers and sellers if a costly repair is uncovered. American Financial Services has been protecting and helping buyers from costly and even harmful defects and repairs by insisting on home inspections before completing a new home purchase. We take pride in helping our borrowers get the best purchase offer for their needs by making sure their new home is secure and their interests are protected. For more information about home inspections or how to protect yourself when purchasing a home contact our mortgage professionals. We are here to work for you and will always work to find a solution that meets your needs.