Home Inspection
A home inspection is a professional evaluation of a property's condition, typically performed after a purchase agreement is signed. A licensed inspector examines major systems and components such as the roof, foundation, plumbing, electrical, HVAC, and overall structural integrity.
A home inspection is conducted for the buyer's protection and is separate from the appraisal. While the appraisal determines value for the lender, the inspection helps the buyer understand the home's condition, identify potential repairs, and make informed decisions before closing. Read about the difference between inspections and appraisals.
The inspection report gives you leverage. If significant issues are found, you can negotiate repairs with the seller, request a credit at closing, or — if the problems are serious enough — exercise your inspection contingency and walk away. Without an inspection, you are accepting the property as-is.
Why This Matters: Skipping the inspection to save a few hundred dollars can cost you thousands in unexpected repairs. A thorough inspection gives you leverage to negotiate — or the knowledge to walk away.
Common question
Is a home inspection required by the lender?
Lenders require an appraisal but not a home inspection. An inspection is optional but strongly recommended for buyers to understand the property's condition before closing.
What does a home inspector look at?
Inspectors evaluate the roof, foundation, plumbing, electrical, HVAC, and overall structure. They identify issues and potential repairs so you can make an informed decision or negotiate with the seller.
Related Mortgage Terms
Not sure what to expect from the home inspection? We will walk you through the process and what comes next.
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