Home Inspection During Escrow

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Escrow is started once your offer is accepted. During this time, which usually lasts between 30 and 60 days, you can do a lot of other things besides wait for the bank to say yes.

You should pay for a home inspection if you want to buy a house. You are not required to get a home inspection, but you should because it tells you important things about the home's structure and how it works. If the inspection finds problems, you can back out of the deal as long as you do it in writing and before the home inspection contingency period ends. You can also ask the seller to pay for and do the repairs before escrow closes. The seller can agree to your request, say no, or give you money so you can fix the problem yourself.

If you schedule the inspection for the first week to fifteen days after the acceptance date, you will have time to talk to the seller about any needed repairs and get them done before the end of escrow.

What does a home inspector do?

The home inspector will make a report about any problems with the building, any problems with the systems inside and outside, and the condition of the appliances. The inspector will also write down anything he sees that needs to be looked at more closely or fixed.

What Does the Inspection Cover?

The home inspector looks for problems that can be seen right away:

• Building Exterior: siding, roof gutters, downspouts, foundation, driveway, fences, and patios.
• Sprinklers, property grading, and drainage are all parts of landscaping.
• Walls and Ceilings
• Windows and doors
• Insulation and Roof
• Chimneys and fireplaces
• Panel, switches, and outlets make up an electrical system.
• Ducts and registers are used for heating and cooling.
• Pressure, supply lines, valves, waste lines, hose bibs, the water heater, and bath fixtures are all part of the plumbing system.
• Sinks, dishwasher, refrigerator, oven, and stove are all appliances.
• Garage Door and Garage Door Opener

Six additional inspections a buyer can ask for.

Standard inspections don't include many tests that a homeowner may want to have done. Here are six more things to think about:

1. Pest Inspection: Most buyers ask the sellers to pay for this inspection. Even if the owner won't pay for the inspection, a buyer may still want to do so. The termite company doing the inspection will look for termites and other pests that eat wood and give a report to the buyer, seller, and agents about what they found. This should also be checked in the first week.
2. Asbestos Inspection: If you are buying an older home, you might want to have it checked for asbestos. Asbestos is known to be bad for your health and can cause serious lung diseases like asbestosis and cancer.
3. Gases and chemicals: An inspector can look for Radon, Formaldehyde, and Methane gas, among other gases and chemicals. In their report, they will say how to get rid of the contaminants.
4. Mold Inspection: During a mold inspection, your home's drywall, insulation, window casings, bathroom cabinet, and other building materials will be checked for dampness.
5. Inspection of the pool and spa. If you're buying a house with a pool or spa, you'll want to have them checked out because they could be expensive to fix.
6. Environmental Inspection: If you live in an area that is prone to flooding, earthquakes, or other natural disasters, your lender may want you to get a geologic/soil report or flood insurance. Check with your lender or agent to find out exactly what you need to do. The inspector may suggest a specialist for the chimney, roof, and fireplace. A geo may be suggested if the property is on a cliff or near the water.

Timeline for typical inspections

Week One:

• Checking the house
• Agent Visual Inspection: The buyer's agent looks at the house and property and writes down what they see. The buyers and sellers then sign off on the report.
• Appraisal: Your lender will ask for this, but you, the buyer, will pay for it.
• Any other inspections that the lender needs or that you ask for.

Week Three:

• By this time, inspections are done.
• A deal has been made on the repairs, and your loan has been approved.
• As a buyer, you'll get rid of your conditions.
• Repairs that have been agreed upon will be set up.

Week Four:

• All the repairs are done.
• You will do a final walk-through to make sure that the repairs have been made and that the house is in the same condition as when you made the offer.
• Make sure to talk to your real estate agent about the inspection strategy, as the market and how it feels about inspections and repairs can vary a lot.

Good luck with your new house!

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