market
Inspection
A professional evaluation of a property's physical condition, identifying defects and maintenance issues that may affect value or safety.
In depth
A general home inspection covers structural, electrical, plumbing, HVAC, roofing, and major systems. Specialized inspections cover pests, septic, well, mold, lead, and radon. Inspection reports identify defects and recommend repairs or further evaluation. Misconception: an inspection is not a guarantee of perfection; inspectors disclaim hidden defects, and some areas (like behind walls) cannot be evaluated. Practically, in FSBO and seller-financed transactions, an inspection contingency lets the buyer terminate or renegotiate based on findings. Sellers can pre-inspect to identify and disclose issues upfront, reducing renegotiation. Buyers should attend the inspection and ask questions. Standard residential inspections cost $400 to $600. Inspection findings tie into material defect disclosures, with state laws often requiring sellers to disclose known defects regardless of inspection results.
Educational content only. Definitions reflect typical usage in US owner-finance and FSBO transactions; statutes and case law vary by state. Consult a licensed real-estate attorney for fact-specific guidance.