Home Inspection

Cincinnati Area Board of Realtors®

A home inspection is a thorough, objective visual examination of the condition of a home. Its purpose is to determine whether there are any major defects or concerns that a buyer should be aware of prior to the closing on a property. The home inspection can point out positive aspects of a home and provide information on maintenance that will be necessary to keep it in good condition, or ways to correct minor flaws as well. It can help a buyer feel at ease when taking this major step of becoming the new owner of a home.

There are different types of inspections that can be performed on a property. The most popular being the "whole house" inspection. There are also inspections regarding specific areas of the property such as, roof, plumbing, electrical, furnace, radon, termite, lead, etc. You should consult with your REALTOR^® as to which type of inspection best suits your needs.

Home inspections are not intended to point out every small problem or defect in a home. Minor or cosmetic flaws should be apparent without the aid of a professional. Generally, the inspection is intended only to disclose any major defects that might affect the purchaser’s decision to buy. A home inspector is looking for material defects that may affect the use of the home and may point out small defects or advise how to maintain an item or advise that a minor repair should be made. However, these minor, routine maintenance and repair items usually are not items that would enable the buyer to be released from the Contract to Purchase per an inspection contingency. According to the Cincinnati Area Board of Realtors^® Contract to Purchase, this contingency is intended to provide the buyer with the ability to request corrections in the event a "material" defect is found on the property. And, if an agreement cannot be reached between the buyer and seller regarding those material defects in the timeframe specified, then the contract may be deemed null and void. If there is a dispute as to whether a defect should be considered "material", legal counsel should be consulted.

A home inspection should not be confused with an appraisal. A real estate appraisal determines the value of a property. The inspection concentrates on the condition of the property. An appraiser usually works for the lending institution and is solely concerned with whether or not the property has a value of at least the amount necessary to secure the loan – not whether or not there are any defects. An inspector works for the home buyer or, sometimes, the home seller and reports on the condition of the property – not its value.

A home inspection is not necessary for the purchase of a home. However, it is generally recommended. The purchase of a home is usually the single largest purchase ever made by an individual. The home inspection can provide valuable information about a property before it becomes the buyer’s home.

Sometimes a seller will have an inspection performed on his/her home. This can be quite beneficial to the seller in that if any defects are discovered, the seller can take steps to correct them before a buyer views the property. Also, the inspection can assist the seller in completing the Ohio Residential Property Disclosure Form that outlines any defects of the property that are known by the seller. Pre-listing inspections are becoming a popular way of assisting sellers to identify necessary repairs. These inspections help them to prepare their property and set the asking price for quicker and smoother sales.

The cost of a home inspection can vary greatly, depending on whether it is a whole house inspection or an inspection of a specific area of the property. The inspection is paid for by the party requesting it. The inspection report belongs to the party who paid for the inspection and use of the report by other parties can only be done with the consent of that party.

Qualifications of home inspectors vary. It is important to ask questions before selecting one to perform the desired services. You will want to know how long the inspector has been in the business, exactly what the inspector does or does not inspect, how long their inspection will last, whether they hold necessary licenses to perform certain services, what type of report is used (check-off list or a detailed narrative), if the inspector carries insurance (such as liability or error and omissions), whether the inspector is involved in any other business, such as home repair, that might represent a conflict of interest, whether or not the inspector belongs to a professional trade association and whether they will provide references. Your REALTOR^® can offer additional suggestions in selecting a home inspector.

Home inspections are a great way to learn about the condition a home and how to maintain it. Ask your REALTOR® for assistance in getting through the process.