The Home Inspection
A home inspection is a non-invasive examination of the condition of a home, often in connection with the sale of that home. This is carried out by a home inspector, who usually has special equipment and training to carry out such inspections.
An inspector will check the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, electrical, and many other aspects of buildings looking for improper building practices, those items that require extensive repairs, items that are general maintenance issues, as well as fire, safety, and health hazards. Think of a home inspector as a detective searching throughout the house for clues that lead to a conclusion of the home's overall condition.
A home inspector is sometimes confused with a real estate appraiser. A home inspector determines the condition of a structure, whereas an appraiser determines the value of a property.
A home cannot "fail" an inspection, as there is no score or passing grade given. A professional home inspection is an examination of the current condition of a house. It is not an appraisal. It is not a municipal inspection, which verifies local building code code compliance. A home inspector, therefore, will not pass or fail a house, but rather describe its physical condition and indicate what components and systems may need a major or minor repair or replacement.
In the United States and Canada, a contract to purchase a house will often include a contingency that the contract is not valid until a home inspector has inspected the property (and the contract will usually provide for how problems found in inspection are to be remedied).
Pre-delivery inspection
The pre-delivery inspection, which generally applies to newly-built homes, is a real estate term that means the buyer has the option (or requirement, depending upon how the real estate contract is written) to inspect the property prior to closing or settlement. These inspections generally takes place up to a week before a closing, and they generally allow buyers the first opportunity to inspect their new home. Additionally, the inspection is to ensure that all terms of the contract have been met, that the home is substantially completed, and that major items are in working order.
Along with a representative of the builder (generally the construction supervisor or foreman), the buyers may be accompanied by a home inspector of their choice. Any noted defects are added to a punch list for completion prior to closing. Often a second inspection is conducted to ensure that the defects have been corrected.
Many local governments within the United States and Canada require that new-home builders provide a home warranty for a limited period, and this typically results in home builders conducting a pre-delivery inspection with the buyer.
In a resale situation, this type of inspection is often termed the "final walk-through", and, based on the contract's provisions, it allows the buyer the opportunity to inspect the home prior to closing to ensure that agreed-upon repairs or improvements have been completed.
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