What to Expect Series: Inspections

The Home Inspection. Dun Dun Dunnn.

Once you are under contract on a home, you will have a certain amount of time to conduct inspections. This is negotiated in the terms of the contract with the seller. In the Hampton Roads housing market, this period of time to conduct inspections for residential property is called the Property Inspection Contingency period. In most cases, expect this time frame to be anywhere from 5-14 days.

There are several different types of inspection you could have on a property. Today, I will be talking about the most common inspections that apply to most properties in my local area.

Third Party Home Inspection: This inspection will look at the overall condition of the main components of home: the roof, the foundation, the appliances, the HVAC, the electric, the water heater, windows, etc. It’s a general inspection to help you identify safety issues, get educated about the property and general property maintenance, get a clear picture on what items you’ll want to address or budget for once you own it. (ie, if the roof is within 5 years of the end of it’s service life, you can plan to start setting aside money for the new roof every month so that WHEN you have that eventual leak, you are fully prepared for it.

The inspector may recommend additional inspections. If they think the HVAC looks iffy, for example, they’ll recommend that you get a professional HVAC specialist to the house for their opinion. (see more on that below!)

If major issues are found, negotiations will ensue with the seller. Or, if the issues are truly terrifying to you, you may opt to terminate your contract for the home.

So what should you expect to show up on your inspection report?

If you’re buying a brand new home from a builder, it’s reasonable to expect a pretty clean inspection report. If you’re buying a resale home, you will certainly have a more extensive report.

Inspection reports always have a long list of things, a lot of which you will consider unimportant. For example, almost every inspection report I’ve ever seen has missing GFCIs, attic pull down stairs that aren’t insulated properly, and ovens missing anti-tilt devices.

There are also items that show up on inspection that are more serious that are worth getting quotes for, negotiating over, and sometimes terminating the contract over if you cannot reach an agreement with the seller on repairs.

Below are three inspectors my clients have used in past. We recommend scheduling as early as possible in your Property Inspection Contingency time period so that you have more time to review the report and decide what is important to you.

Termite and Moisture Inspection (AKA: Wood Destroying Insect Infestation Report): This inspection is VEYR common in our area and it is required for all properties being purchased with a VA loan. Who will order and pay for this inspection is determined in the original contract negotiations. If the sellers are under a termite/moisture warranty* with a company, they will typically order and pay for the inspection. If they are not, they will sometimes allow buyers to choose the company to conduct the inspection.

Evidence of previous termite activity is very common in Coastal Virginia. Those little buggers love the moisture content in our crawl spaces. If termite activity is present, a treatment is required to get a clear letter.

Moisture inspections ONLY occur on houses that have crawl spaces or basements. There are some wood destroying fungi that could be called out on these inspections, in which case, the company would treat the wood to eliminate that fungi. Moisture inspections do not report moisture in exterior wood trim items or anything EXCEPT for the crawl space.

*When you take ownership of the property, it is recommended that you get a yearly warranty from a company that specializes in Termite/Moisture issues. Please let me know if you’d like recommendations for companies my clients have used in the past.

Other Professional Inspections: It is common for buyers to have other professionals to the house during the inspection time frame if the inspector sees something that might deem another professional opinion necessary such as Roofers, HVAC contractors, plumbers, etc. Buyers may also want to complete a Lead Based Paint Risk assessment or a Mold Air Quality test if they suspect mold is present in a house. Most of these come at an additional expense, so we can definitely chat on a case-by-case basis for these!