MYTH #1: Buyers should not attend the inspection.
False. The average home inspection lasts 3 to 4 hours. While it may not fit in your schedule to be there the whole time, realize this house is a very large investment. The more time you are able to spend at the inspection, the more you will know about the quality and potential issues of the home. If you can not attend the inspection, at the very least, set aside an hour to meet with the inspector at the home so they can answer your questions and show you the various systems of the home that you may not be familiar with.
MYTH #2: A home inspection will find EVERYTHING that is wrong with a home.
Unfortunately, there is no way to know for sure that inspectors have found every little defect within a home. A home inspection is a noninvasive visual inspection, this means that we are not able to tear off wall coverings or move personal items that are pushed up against a wall of an occupied home. It is the goal of every inspector to give the prospective buyer the best possible description of the home they are purchasing. Just keep in mind even with those good intentions, it is near impossible to find everything. Knowing this, some buyers choose to purchase a home warranty plan through an insurance provider. This may especially be a good idea for first time home buyers, as they are often expending much of their savings on their home purchase.
MYTH #3: A home inspection is pass or fail.
This is an extremely common myth, but it really couldn’t be more wrong. There’s no such thing as a pass or fail. A home inspection simply points out problems or potential issues to the prospective home buyer. A “good” home for an experienced contractor is not going to look the same as a “good” home for someone who has zero experience with home repair. A home inspector is there to let you know what the condition of the home is and then allow you to make the decision if the home will be a good purchase for you. In other words, the buyer decides if a home will “pass or fail”, no one else.
MYTH #4: A home inspection is the same as an appraisal.
These two steps in purchasing a home really could not be more different when you look at their core function. An appraisal is done for the lending institution to determine the value of a home. They may look at the overall condition of a home but they do not get into the detail that a home inspector would. In contrast a home inspection is first and foremost concerned with the safety of a home, then its condition. The value of the home is really of no concern to a home inspector.
MYTH #5: The seller must fix everything that is found in a home inspection.
Once again, this is also a very common misconception. A home inspection report is not a document that regulates the repairs that must be made on a home. It is simply there to act as an informative document that the buyer can take to the seller and ask for needed repairs to be made. The seller can always say no to any repair requests that are made. However, realize that the buyer’s expectation will almost always be for the seller to make the repairs or reduce the cost of the home to accommodate for the needed repairs. In short, it is up to the buyers and sellers of the property to determine what needs to happen after a home inspection. There is no regulation governing the repair process. Usually the two parties will meet somewhere in the middle and come up with a deal that will work for everyone.
Have you heard of any other home inspection rumors or myths? Post them below in the comment section and I will do my best to let you know which ones are true and which ones are not!