Understanding Home Inspections

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What Type of Home Inspections are There?

and, how much do they cost?

Once you have gone under contract you will want to have the property inspected during your agreed upon inspection period (as stated in your purchase contract). This is often called the ‘Buyer’s Due Diligence’ period. There are several different aspects to an inspection and the actual home you plan to buy will determine what types of inspections you need.

 

 

Inspection Types

General Property Inspection (average cost $375)

This inspection is called the ‘General Inspection’ because it is an inspection of all the standard aspects of the home. This includes Roof, Electrical, Plumbing, Appliances, HVAC unit(s), Pool, and a general overview of other standard items..

Termite Inspection (average cost $125)

This inspection seeks evidence of any wood destroying organisms. This would include any fungi growing on the fascia or other areas of the home. If you are a VA Buyer, you must make certain any detached buildings located on the property are also inspected per VA Guidelines

4-PT Inspection (average cost $125) *see sample 4-pt inspection form below

A 4-PT Inspection is sometimes required by the insurance company who intends to insure the home if the home is an older home. This is a specific inspection of 4-major aspects of the home (1) The Electrical System (2) The Heating System (3) The Plumbing System (4) The Roof

Wind Mitigation Inspection (average cost $125) *see sample ‘Wind Mit’ inspection form below

A wind mitigation inspection is a very smart choice because IF the roof qualifies, per the inspection, the house could qualify for a substantial credit on the homeowner’s insurance policy. Because you pay for an entire year of coverage in advance (at closing) this is a savings you enjoy immediately.

Septic Inspection, Well Water Inspection, Specialized Foundation Inspection

These are inspections that are only needed in certain cases. The septic inspection may help to identify any obvious issues with the septic tank system. The well water inspection (required on VA loans) actually includes the sampling and testing of the well water at a lab. A specialized foundation expert may be called in if the general inspector identifies alarming on his/her report.

Sample of 4-PT Inspection
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Sample of Wind Mitigation Inspection
WIND-MITIGATION-REVISED-2012