A home inspection gives the buyer more detailed information about the overall condition of the home prior to purchase. In a home inspection, a qualified inspector takes an in-depth, unbiased look at your potential new home to: • evaluate the physical condition: structure, construction, and mechanical systems • identify items that need to be repaired or replaced • estimate the remaining useful life of the major systems, equipment, structure, and finishes
An appraisal is different from a home inspection. Appraisals are for lenders; home inspections are for buyers. An appraisal is required for three reasons: • to estimate the market value of a house • to make sure that the house meets FHA minimum property standards/requirements • to make sure that the house is marketable
It is your responsibility to be an informed buyer. Be sure that what you buy is satisfactory in every respect. You have the right to carefully examine your potential new home with a qualified home inspector. You may arrange to do so before signing your contract, or may do so after signing the contract as long as your contract states that the sale of the home depends on the inspection.