An inspection contingency stipulates that a homebuyer must schedule a home inspection within a certain period of time so that they are aware of the condition of the property and any issues that may be present prior to closing. It is one of the most common types of contingencies in real estate contracts. Below, learn what the inspection process involves and the benefits it provides.

What Should the Inspection Include?

A home inspection assesses the structures and systems on the property and lets you know about their current condition. The inspector should note any existing problems and whether these problems are major or minor, as well as whether each problem requires a repair, replacement, or monitoring. 

Exterior aspects of the home included in a typical inspection are the foundation, roof, and walls; the garage; and the grading of the land surrounding the house for water drainage purposes. Interior components should include electrical, HVAC, and plumbing systems; flooring type and quality; and fire safety measures currently in place, such as smoke alarms and the fire ratings of building materials.

What Are the Benefits?

A home purchase is likely the largest financial transaction you'll ever make. But the quality, condition, and possible repair issues that a house might have will not be immediately obvious on a simple tour or walk-through. Cosmetic upgrades—and even clever staging by a real estate agent—can conceal structural or appliance-related problems that could end up costing the buyer a lot of money. 

A home inspection ensures that the buyer understands the state of the premises and the extent of any repairs, replacements, or upgrades that may be required to make the property livable, comfortable, or safe. In short, it lets you know what you're committing to before signing on the dotted line.

For the seller, an inspection helps streamline the homebuying process. It can reveal issues that you may choose to address and pay for yourself, which can speed up the sale or appeal to interested parties who may be on the fence about buying.

When you need a home inspection in Northern Kentucky or Southwest Ohio, trust Prior to Purchase Inspection Services, LLC. Since 2003, they have been providing reliable residential and commercial building inspections. They also offer mold, radon, and water quality testing. Let them help you reduce some of the anxiety that comes with buying or selling a home; schedule an inspection by calling (859) 802-8561 or visiting their website.