Inspections can be done when either buying or selling property. However, it is particularly important to schedule an inspection when purchasing a home and according to our contract . . . that must be done within 5 business days after acceptance, unless an extension is requested by your Attorney.
The term "Contingent on the Buyers' approving the results of one or more home inspections" is commonly written on the offer by the Buyer. Other inpsections may include termite, mold, and radon, etc.
The purpose of an inspection by a professional of your choice is to look over the physical condition of a house. The Inspector will look into defects or malfunctions in the building's structure (foundation, floors, walls, ceilings, gutters and roof), mechanicals (plumbing and heating/air conditioning), electrical systems and appliances.
The other inspections mentioned (termite, mold and radon) can be done at additional costs. (It is now recommended that home owners conduct radon tests in their homes. And, it is now mandatory that newly constructed homes conduct radon tests.)
Once the inspection has been done, the Inspector will give the buyer, a report that will identify any problems or issues with the house, condo/townhome, etc. Within 5 business days of after acceptance of the contract, that inspection report has to be given to the Buyer's Attorney for review as well and to negoiate any inspection issues with the Seller's Attorney.
Note that the Realtor and Buyer accompany the Inspector on the home inspection. At that time the buyer can ask the Inspector any questions about maintaining the home and its systems.
An inspection can also be done on a home by a seller just prior to listing the home for sale so any issues can be readily addressed.
Ron Ewald Brickkicker 849 N Ellsworth St. Naperville Illinois 60563 P | 800-821-1820 F | 630-420-2270