What Is A Home Inspection & What Is It For?

A home inspection is a top-to-bottom examination of a house, performed by an objective, licensed home inspector. Inspections take about a half-day to complete and cost approximately $400, depending on the size and age of your house.

Well-performed inspections are worth what they cost.

Home inspections catch defects you and your real estate agent missed during your tour, and that the home seller may be unaware of, too.

A quality home inspection costs between $400-600 and will reveal:

  • Hidden cracks within the home’s concrete foundation
  • Advanced mold infestations behind the home's walls
  • Defective roofing, HVAC, and other broken appliances

A home inspection also uncovers basic plumbing and electric problems; and, notes areas of the home which no longer meet building standards.

It's rare for a home inspection to find no material defects, which is why real estate contracts often include a Home Inspection Clause.

A Home Inspection Clause is the home buyer's “out” from a bad contract. The clause states that the buyer can cancel the contract should the seller refuse to repair a defect.

Generally, a compromise is found through negotiation.

Ask us your home inspection question in the chatbox. We're here to help.

Dan Green

Dan Green is a former mortgage loan officer and an industry expert. He's appeared on NPR and CNBC, and in The Wall Street Journal, Bloomberg, and dozens of local newspapers. Dan has helped millions of first-time home buyers get educated on mortgages, real estate, and personal finance. Have mortgage questions? Ask Dan in the chat.

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