When does the inspection take place, and what do I do with the report?

 

An inspection will usually take place after the parties have agreed on a selling price. Any offer or purchase agreement that you sign should require a satisfactory home inspection. If the purchase contract is contingent on an inspector's review of the property, you should be able to negotiate a price adjustment or ask the sellers to make repairs if unexpected problems are found. 

 

If the inspector does not discover any significant problems, you will have the benefit of a more thorough understanding of the property. Inspection reports usually provide a lot of helpful maintenance information, so a detailed report is like having an owner's manual for your home.

 

Note: You should be present when the inspector is doing the inspection. You will learn a great deal about your new home and how to maintain it by accompanying the inspector and asking questions throughout the inspection.