A home inspection is an examination of the material condition of a property. You can hire a home inspector to inspect the property and prepare a report that informs you of any defects or safety hazards present in the property. After the inspection, a homebuyer will review the inspection report to determine if they want to buy the home. If the damage is significant, the buyer can choose to cancel the sale completely or can start negotiations with the seller.
In Illinois, if it's a standard real estate contract, you have five business days to inspect the home. This means you need to find a good home inspector and schedule a time for you to come to the property. The home inspector can be a very important person in this entire process, so it's important to choose someone who will do a good job for you. If you turn to a real estate agent, they usually have a list of reputable home inspectors in the area.
The home inspector will go to the property you are going to buy and carry out a detailed inspection. They will examine the bones and structure of the house and, in return, give you a detailed report of the house. A good home inspector usually lists items in the house that need to be repaired, those that might need to be repaired, and those that are in good condition. All of this is to help you make an informed decision about the home you are going to buy.
Don't hesitate to ask any questions you have about the report; your inspector is an invaluable resource, with the experience, extensive knowledge and training to produce an unbiased and informed report on the condition of a property and to interpret what their findings reveal about the state of the property. Your home inspection report will contain vital information about structural components, foundations, roof, piping system, electrical system and mechanical systems. Consider these changes in the market when reviewing the home inspection report to ensure that the repairs you are requesting meet supply and demand standards. Depending on what appears in the report, the buyer may want to lower the price of the house or contact contractors to fix problems before the offer ends.
A good report will have between 15 pages (for a small house) and 70 pages (for a large house), and these reports will be filled with all the problems in the house. While the reports themselves vary from one inspection company to another, this document will include the inspector's findings and detail the state of the home's major systems and elements at the time of inspection. The buyer usually gives the seller a copy of the inspection report (or summary) to do the repairs. There you'll find sample reports for different types of properties, including an example of a condominium report and an example of a report of a single-family detached single-family home.
While it's very common to negotiate for home repairs, it's important to note that these repairs aren't mandatory and sellers can't be forced to fix anything from the inspection report. Plumbing problems are more than just an inconvenience: they can cause broken pipes, water leaks, and ultimately damage other parts of the house, so be sure to prioritize these types of repairs in your request. These types of problems can also lead to gas leaks and other dangerous situations, so you have every right to request that these issues be addressed. Shortly after the inspection is finished, usually at the end of the same business day, your inspector will send you your report.
This document will provide you with all of your inspector's findings as well as details about each major system or element in your potential new home. With this information in hand, you'll be able to make an informed decision about whether or not this is truly your dream home.