What is Required for an FHA Home Inspection?

Significance of an FHA Home Inspection

• The purpose of obtaining a home inspection prior to purchasing is to be sure the structure is sound, and to diagnose any problems with heating and plumbing systems. It can also estimate the prospective remaining life span of such systems and features.

Effects of an FHA Home Inspection

• A home inspection will point out to the consumer minor cosmetic defects, but will not require the seller to fix them. The inspection will require to seller to repair anything that will cause harm the health and safety of occupants.

Cost Considerations of an FHA Home Inspection

• Home inspection rates vary amongst professionals and regions. Expect to pay as much as $300 to $500. Keep in mind that this can be less expensive than potential repairs.

Benefits of an FHA Home Inspection

• A good home inspection will allow for some major problems to be remedied prior to you taking possession of a house. It will save you money in the long run. Attending the inspection can also help you determine what you will need to do when you move in.

Misconceptions About FHA Home Inspections

• The home inspection does not determine the fair market value of a home, nor FHA marketable property standards. These are determined during an appraisal. Any problems uncovered after you take over the property will not be covered by FHA, nor will they buy back the home.