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Appraisal & Inspection
A home inspection is a non-invasive examination of the condition of a home, often in connection with the sale of that home. This is carried out by a home inspector, who usually has special equipment and training to carry out such inspections. more...
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An inspector will check the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, electrical, and many other aspects of buildings looking for improper building practices, those items that require extensive repairs, items that are general maintenance issues, as well as fire, safety, and health hazards. Think of a home inspector as a detective searching throughout the house for clues that lead to a conclusion of the home's overall condition.
A home inspector is sometimes confused with a real estate appraiser. A home inspector determines the condition of a structure, whereas an appraiser determines the value of a property.
A home cannot "fail" an inspection, as there is no score or passing grade given. A professional home inspection is an examination of the current condition of a house. It is not an appraisal. It is not a municipal inspection, which verifies local building code code compliance. A home inspector, therefore, will not pass or fail a house, but rather describe its physical condition and indicate what components and systems may need a major or minor repair or replacement.
North America
In the United States and Canada, a contract to purchase a house will often include a contingency that the contract is not valid until a home inspector has inspected the property (and the contract will usually provide for how problems found in inspection are to be remedied). In many states and provinces, home inspectors are required to be licensed but typically, licensed professional engineers are exempt from home inspector licensing since their license to practice engineering covers home inspections. Typical requirements for obtaining a license are to complete an approved training course and/or to pass an examination selected by the state's licensing board. Several states and provinces also require inspectors to periodically obtain continuing education credits in order to renew their licenses.
A home inspection is often referred to as an "engineering report", although many home inspectors are not licensed professional engineers. The essential difference between a home inspector and a professional engineer is that the professional engineer can offer opinions based upon engineering judgment and can design specifications for repair or reinforcement of a structural deficiency, although engineering design is typically outside the scope and fee structure of a standard home inspection. Either way, anyone entering the home inspection field should be trained in the unique discipline of home inspection. Assuming that the home inspector or licensed engineer has been properly trained and has sufficient experience, either person should be able to provide a satisfactory, detailed inspection of a property.
Read more at Wikipedia.org
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