When a buyer finds the home they love, their offer is accepted, and escrow is opened, the next step is having the home inspection. Most home buyers have no idea how to select a home inspector, and will often make their decision on price. But, this is definitely NOT the time to shop for the least expensive inspector. You need a reputable inspector, one who is a member of the professional organizations for home inspectors in your area, one with experience, and one who has references. In our area, an inspection of a home will run from approximately $450 to $600.
A home buyer usually pays for three items up front…the appraisal, the credit report, and the home inspection. If the transaction does not close, they will not be reimbursed for the appraisal or home inspection (in most cases). Home buyers need to remember that the purpose of the home inspection is to make sure the major components of the home are operating correctly….is there something that would cause you not to purchase the home if not corrected? It is not a time to start asking for cosmetic repairs. The inspector’s job is to find things wrong with the property, and they will! Buyers are usually buying a previously lived in home. Some are lived in “considerately”; others are lived in a bit “rougher”.
I have rarely had an escrow fall out because of inspections. A seller wants to sell the home and a buyer wants to purchase it, so we usually work out any issues that may arise.