While property inspections provide no guarantee, they will educate you as to the condition of a property. Inspections are usually requested on the Purchase Contract, and if inspection results are unsatisfactory, you have the option to withdraw your contract.
In addition to the professional inspections listed below, take a close look at the property yourself. For example, inspect cupboards, doors, windows, flooring, counter tops, bath and kitchen fixtures, built-in appliances, stairways and banisters. Also be sure to be perfectly clear as to what stays with the house and what does not.
- Termite Report - The Pest Report will indicate any type of wood destroying organisms that may be present. If the condition is "active," or currently causing damage to the property, the damage will need to be corrected prior to the lender making the loan.
- Physical Inspection - Usually done by a General Home Inspector, a Physical Inspection is a thorough inspection of the house. The inspection results in an overall assessment of the present condition of the property.
If conditions warrant, the Home Inspector may recommend a Structural Engineer's Report. Such a report would identify structural failures and detail recommended corrections.
- Geological Inspection- This inspection evaluates the soil conditions at the home. The inspection is performed by a Geotechnical Engineer and involves not only physically inspecting, but researching past geological activity in the area. The primary purpose of a Geological Inspection is to determine the stability of the ground under and around the home. This inspection is a buyer's option.
