What the Heck am I Reading? Inspection Reports when Buying

When you buy a home, one of the most important aspects are the inspection reports.  There are two reasons why this is important:

1. You want to know everything that is going on with the home.
2. Sellers only disclose what they know for sure.  If the roof is shot, but they never had a leak, then they may not know they have upcoming roof issues.

The problem that happens is that buyers read these reports and it goes in one eyeball and out the other.  They don’t understand what they are reading and sometimes their agents are no help.  Just because an agent has been in the business for a long time doesn’t mean they have experience and understanding in what they are reading. 

However, there are ways to better interpret what you are reading.  Here are four tips to get you to better understand the inspection reports:

1. Have the conversation with the inspector:  You paid them to be there and provide their expertise, so ask them any and all questions you have.  Also keep in mind you aren’t a chimney/sewer/house expert, so no question is a bad question.
2. Consult the experts:  Talk to a contractor, chimney repair company, or that sewer expert.  Send them the reports and ask for a bid and have the conversation with them about the process.
3. Understand what is building code, health and safety, and what is for informational use:  Not all items in a report are created equal.  Some items in the report could need immediate attention such as mold or a faulty electrical panel.  But others may not be.  More importantly, building codes change almost yearly, so what may not be to code today could have been back when it was built.  Plus, unless new construction, homes have been lived in.  This means that you cannot expect everything to be in working as if it is brand new.  So, don’t freak out when there are items to work on.
4. Know that this will minimize your risk, but not 100%.  As of right now, we don’t have the technology to see beyond walls (other than for moisture), so inspectors can only see so much.  Therefore, even after you close and you start opening walls, there may be surprises.  All these inspection reports do is provide more information than you otherwise didn’t have.

Remember, you are buying the home and the condition that it is in.  Therefore, you are better off understanding what you are buying, rather than hoping for the best.