Step 6: Inspect The Home

Why Home Inspections?

You want to make sure you are not buying a "lemon", a home that has defects, or potential problems which may result in malfunction, and may cost you thousands of dollars to correct. It's like buying an insurance policy on the condition of the home.

Speaking of insurance, there are commercial companies selling 1 year insurance covering most systems and appliances in the home you are purchasing with owner financing. This type of insurance is known as "Home Warranty Shield". It sells for $350-$400. 

(If you're getting a home on a Rent-to-Own program, you probably don't need to invest in a Home Warranty program until you actually get your own loan and compete the purchase.)

Who Should Inspect the Home?

Should you roll up your sleeves and start looking inside and under every appliance, or system, or climb on top of the roof, etc.?

We are certain, you shouldn't. First of all, it's dangerous.

Besides, you probably won't accomplish your objective to get a clear understanding of the areas of concern, if there're any.

So, hire a licensed professional building inspector to do that for you. You can find many in the Yellow Page directory under "Building Inspections" category. Of course, even easier search can be done online using Yellow Pages online or your favorite search engine.

To learn about your next action please review Step #7:

Close The Purchase