When purchasing a home it is recommended that the purchaser complete a home inspection to ensure there are not any substiantial issues/defects with the home. As part of the purchase agreement / offer there will be a time frame for you, the buyer, to complete and all inspections you choose during this period, usually 10 days from the time the offer is accepted. A general home inspection will cover structural, electrical, plumbing, HVAC, decks, windows, doors, moisture readings etc. ( your home inspector can provide you with a complete list of items checked).
The inspector will then provide you with a recap of the inspection, usually verbally and in writing, and point out any items that may be concerns now or in the future or suggestions to improve the home. If there are items noted with "substiantial impact to the value of the property the inspection clause allows time to renegotiate with the seller to attempt to reach an a solution agreeable by both parties. If a solution cannot be reached you may cancel your offer, be refunded your earnest money deposit and move on to a new property.
If you choose to have additional inspections completed you may do so also at your expense, though some may be required by your mortgage provider and be built into your closing costs for your loan already. For example some buyers choose to have the well and septic systems inspected. Some loan programs already have these as a requirement of the mortgage and are factored into your loan closing costs therefore would be ordered by the lender and would not be an additonal expense.
Home Inspections are completely optional however if you do not complete an inspection, purchase the home and then discover there is a large defect it is now your sole responsibility.
If you are considering purchase a home in the Traverse City area please Contact Jon anytime!
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