The Different Types of Home Inspections Explained
Home inspections are a common source of confusion for Montana home buyers, because there are several different types of inspections that can take place. Here is an overview of the most common types of inspections you could encounter during the buying process.
Primary Home Inspection
When you hear people talk about a "home inspection," they are generally referring to the primary inspection that is conducted by a licensed Montana home inspector. It's always a good idea to have a property professionally inspected before buying it.
The inspector will examine the home's foundation, roof, electrical system, installed appliances, heating and cooling systems, and overall condition. When finished, they will give you a detailed inspection report that explains the findings.
Keep in mind that when you buy a house, you are generally buying it in "as-is" condition (unless specific provisions are added to the contract saying otherwise). For this reason, you want to make sure you know what is, and is not, working in the home. You'll also want to know what repairs might be needed, and how much they might cost. For all of these reasons, the primary home inspection is essential.
Home inspectors typically don't look for termites or other wood-destroying insects. So this is usually a separate inspection. This inspection is done on behalf of the buyer and the mortgage company. You might even have to provide a copy of the inspection for your mortgage lender. This is especially true if you live in an area where termites are common. You might be able to skip this process if termites are not commonly found in your area. Termite damage can be extensive and expensive. So these inspections are usually worth the cost.
Well Water Inspections
Depending on where the home is located in Montana, you may also need a well water test to make sure the water is potable (safe to drink).
Home Appraisal / Appraiser's Inspection
If you are using a mortgage loan to buy a house in Montana, your bank or lender will send a licensed home appraiser out to evaluate the property. The appraiser is primarily concerned with the market value of the home. He will also examine the overall condition of the property, as it relates to the value.
As each inspection takes place, keep in mind that no home is perfect. You'll need to weigh the pros and cons of every house in order to make the right purchasing decision. Your Live in MT Real Estate agent can help you determine the pros and cons.
You can expect a number of inspections to take place during your home buying process. Most of these inspections are for your benefit, as the home buyer, so you need to take each inspection seriously and consider the outcome carefully.