Madison, WI - One of the best ways to avoid surprises in your new
home is to hire the “trained eye” of a qualified home
inspector to see if there are any problems with your
dream home. A home inspection goes a long way in
preventing the unexpected once you’ve closed the deal
and moved into your new home.
How Do I Arrange for a Home Inspection?
The very first step is to make sure the optional
“home inspection contingency” in the offer to purchase
form is checked. Your REALTOR® will review the
inspection contingency details with you.
Searching for Sherlock
After your offer is accepted, hire a
Wisconsin-registered home inspector to inspect the
property. Your REALTOR® may suggest the names of a few
local inspectors. You can also find a listing of all
registered Wisconsin home inspectors at
www.wra.org/homeinspectors.
Wiring and Railings and Faucets and . . .
Before you schedule the inspection, make sure you
sign a contract with your home inspector spelling out
the areas of the home that will be inspected, as well
as the associated fees. Because the minimum legal
requirements for a home inspection are not very
extensive, make sure you discuss what parts of the
property will be inspected and what parts will not
before you sign the inspection contract. For example,
a home inspector is not required to operate
appliances, check the furnace’s heat exchanger,
inspect more than one window per side of the home, or
look at any locks or security systems.
For a complete listing of what the home inspector
is required to inspect (and a listing of components
that may not be inspected unless you ask), ask your
REALTOR® or go online and visit
www.wra.org/homeinspectors.
Is an Appraisal the Same Thing As a Home
Inspection?
No, an appraisal is not a substitute for a home
inspection. An appraisal is an objective, third party
estimate of current market value, made by a person who
has sufficient knowledge and experience to accurately
estimate its value. Some loan programs ask the
appraiser to identify property defects, but appraisers
are not required to have the same technical knowledge
as home inspectors and are not credentialed to conduct
home inspections.
Do I Need to Hire an Appraiser?
As part of your mortgage loan application, you’ll
pay for your lender to order an appraisal on the house
that you are buying. Lenders won’t approve your loan
until they establish that the home you are buying is
worth the loan amount you are requesting. Once the
appraisal is complete, be sure to ask your lender for
a copy – you are entitled to one by law.
Home Inspector Information
WRA Home Inspectors Resources page:
www.wra.org/homeinspectors
“Home Inspection Handout for Home Buyers”:
www.wra.org/homeinspectorhandout
Wisconsin Department of Regulation home inspector
information:
drl.wi.gov/prof/homi/def.htm
To confirm a home inspector’s credentials, visit:
drl.wi.gov/drl/drllookup/LicenseLookupServlet?page=lookup_business
Published: 7/6/2005
