Do You Need a Home Inspection?
August 21, 2023
When you buy a house with an FHA mortgage or any other type of home loan, you’ll want to know about any issues with the property you personally aren’t trained to identify.
If you don’t know how a home is built, why certain features of the house are there, or what it takes to identify problems with those features, you risk buying a house with hidden problems.
That’s where a trained home inspector comes in. The work they do is NOT the same as an appraisal. Instead, this is an up-close look at the various parts of the home to identify any issues you should know about.
Why Get the Home Inspected?
A snarky answer, but a good one, is that unless you are a roof and foundation expert, you will need the help of someone who can tell whether the roof or foundation needs repair or other work.
If you don’t know how a roof is built, how can you tell whether it leaks or not? Ask an inspector to do the work instead.
Lurking Issues
Any borrower can spot a pool of standing water in a basement and realize there may be issues to contend with. But does the same borrower know what cracks in the basement walls or flooring might indicate? What about the location and functionality of a radon system in a basement or crawlspace?
A roof with a hidden leak can lead to black mold, rot, and other problems. If you can’t see it, it’s not there, right? Unfortunately, where moisture is concerned, the answer is more complicated.
What the Inspector Does Vesus What the Appraiser Does
Appraisers are not required to step onto the roof and may, in some cases, may be allowed to conduct their appraisals based on photos and other documentation that have nothing to do with a real-time property walkthrough.
An inspector may step onto the roof, examine the electrical system and plumbing, and check for excessive moisture in ways your FHA loan appraiser won’t.
There are many differences between an appraisal and an inspection. Don’t be fooled into thinking the appraisal is enough.
Usually, it is not. The borrower suffers as a result. You likely won’t be able to sue anyone for problems you encounter after buying a home you did not have inspected first.
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RELATED VIDEOS:
Don't Skip the Home Inspection
Bigger is Better With a Jumbo Loan
Insuring Mortgages With the FHA Funding Fee
If you don’t know how a home is built, why certain features of the house are there, or what it takes to identify problems with those features, you risk buying a house with hidden problems.
That’s where a trained home inspector comes in. The work they do is NOT the same as an appraisal. Instead, this is an up-close look at the various parts of the home to identify any issues you should know about.
Why Get the Home Inspected?
A snarky answer, but a good one, is that unless you are a roof and foundation expert, you will need the help of someone who can tell whether the roof or foundation needs repair or other work.
If you don’t know how a roof is built, how can you tell whether it leaks or not? Ask an inspector to do the work instead.
Lurking Issues
Any borrower can spot a pool of standing water in a basement and realize there may be issues to contend with. But does the same borrower know what cracks in the basement walls or flooring might indicate? What about the location and functionality of a radon system in a basement or crawlspace?
A roof with a hidden leak can lead to black mold, rot, and other problems. If you can’t see it, it’s not there, right? Unfortunately, where moisture is concerned, the answer is more complicated.
What the Inspector Does Vesus What the Appraiser Does
Appraisers are not required to step onto the roof and may, in some cases, may be allowed to conduct their appraisals based on photos and other documentation that have nothing to do with a real-time property walkthrough.
An inspector may step onto the roof, examine the electrical system and plumbing, and check for excessive moisture in ways your FHA loan appraiser won’t.
There are many differences between an appraisal and an inspection. Don’t be fooled into thinking the appraisal is enough.
Usually, it is not. The borrower suffers as a result. You likely won’t be able to sue anyone for problems you encounter after buying a home you did not have inspected first.
------------------------------
RELATED VIDEOS:
Don't Skip the Home Inspection
Bigger is Better With a Jumbo Loan
Insuring Mortgages With the FHA Funding Fee
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