Ten years ago real estate inspectors inspected approximately 10 percent to 15 percent of the homes sold. Today, they inspect more than 50 percent, and that percentage is expected to increase another 30 percent to 40 percent over the next five years. Many banks, mortgage companies and other lending institutions require that the me inspection and repairs be made before funding the loan.
A typical home inspection involves evaluating the electrical, plumbing, heating, cooling, roof, structure, site, and foundation of an existing home.
Identifying subtle defects before you sign a contract can translate into a reduced selling price, or repair of uncovered defects at the sellers cost. Of course, there is a limit to what any inspector can uncover because home inspections are visual investigations and destructive probing is not the standard of practice in the industry. However, there may be indications of serious problems where an inspector will recommend calling a specialist in the area of concern.