When buying a house, the home inspection is a vital component of escrow. While sellers can have a pre-listing inspection to give them a "heads up" on potential issues buyers may find, this action is rare.
In most states, buyers are permitted–sometimes required–to have a home inspection prior to closing. Do not confuse a home inspection with a certified appraisal. They are two very different reports.
Appraisal: Gives an opinion of the fair market value (FMV) of the home.
Home Inspection: Evaluates all aspects of the home, including heating, plumbing and electrical systems, roof, foundation and amenities. This report shows opinions of adequacy, problems and remedies.
The timing of inspection reports is also critical. With a typical window of 17 to 21 days in California, a home inspection must be completed, with recommendations, as soon as feasible. The seller is technically responsible for fixing any system problems. In many cases, however, buyer and seller agree to adjust the selling price downward if time consuming remedies are necessary to address inspection problems.
When you’re buying or selling homes in southern California, contact a proven firm, such as Brighton Escrow, to ensure a smooth closing process. They’ll help you schedule and complete a home inspection within the available time period. Their experience with all escrow necessities helps your closing become a stress-free transaction.
