Before you receive the keys and move into your new home, there are several crucial steps to complete before closing. From appraisals to final walkthroughs, each part of the process plays an important role. However, one step that often stands out is the home inspection.
Around 88% of homebuyers hire a home inspector when purchasing a property, and in many cases, it’s even required for certain mortgage loans. This makes the home inspection a vital aspect of the home-buying process.
But if you’re a first-time buyer, you might be wondering: Who pays for the home inspection? Is it my responsibility, or does the seller cover it? The answer depends on the circumstances—sometimes the buyer pays, and other times the seller does.
Let’s break it down further.
Who Pays for the Home Inspection When Buying a House?
If you want a thorough and unbiased evaluation of your potential new home, it’s perfectly reasonable to request a home inspection. As the one requesting or scheduling the inspection, the buyer typically bears the cost.
Paying for the inspection also gives you leverage when negotiating with the seller, should any issues arise from the findings.
Does the Seller Ever Pay for a Home Inspection?
Yes, in some cases, sellers do pay for a home inspection—but this typically happens when they conduct a "pre-listing inspection" before putting their home on the market.
A pre-listing inspection is similar to a regular inspection, but it happens before the home is officially listed for sale. Since the seller is paying for the inspection, they have the advantage of addressing any issues beforehand. This minimizes the potential for negotiation over repairs during the closing process. However, while the seller benefits from this inspection, it can also provide you, the buyer, with valuable insights into the home’s condition before moving forward with your purchase.
If the seller opts to do a prelisting inspection, as the buyer, you have the right to hire your own inspector to conduct another inspection of the property on your behalf.
What Is the Most Common Inspection in Wisconsin?
As of 2024, Wisconsin's real estate market is considered balanced, meaning neither buyers nor sellers hold a distinct advantage. Home prices and mortgage rates have stabilized since the highs of 2023, and with median home prices lower than the national average, buyers are finding more affordable options.
Both pre-listing and buyer-requested inspections are common in Wisconsin, but buyer-requested inspections tend to be more prevalent in a balanced market. Buyers, just like you, want to ensure the home is in good condition before committing to a purchase. Sellers, on the other hand, may not feel the same pressure to conduct pre-listing inspections.
Who Pays for Specialty Home Inspections?
If your home inspector uncovers potential issues during the inspection, you may need to conduct a specialty inspection. As with the regular home inspection, the buyer is typically responsible for the cost of any additional inspections or testing. The goal is to ensure an unbiased assessment of any issues that may affect your future home.
Here are some types of specialty inspections you might encounter:
Lead Paint Inspection: If you’re purchasing a home built before 1978, a lead-based paint inspection is required. A certified lead inspector will visually check for peeling or chipped paint and collect paint samples for lab analysis.
Asbestos Inspection: Homes built before the 1980s may contain asbestos, particularly in insulation, popcorn ceilings, or other materials. If your inspector finds signs of damage, it’s recommended to hire a specialized inspector to collect samples for lab testing.
Mold Inspection: If your home inspector identifies signs of mold, such as visible growth, water damage, or musty odors, you may need a mold inspection. A mold remediation specialist will assess the property for mold and collect surface and air samples for testing.
Radon Inspection: Radon is a dangerous gas that can accumulate in homes, especially in basements and crawl spaces. If your inspector detects radon levels at or above 4 pCi/L, it’s essential to conduct further testing. High levels of radon can pose significant health risks, including lung cancer.
Sewer Scope Inspection: As the homes in Wisconsin grow older, so do their components. The sewer lateral which takes the sewage from the basement, through a lateral under the front yard to the street where it meets the city sewer, is 100% the homeowner’s responsibility. An inspector can thread a camera the length of the pipe to help you identify any potential costly issues and sewage backups.
Wood Destroying Organism Inspection: If you’re financing your home purchase with a VA mortgage, you may be required to have a Wood Destroying Organism inspection. Even if it’s not mandatory, you might still request a this inspection if your inspector suspects issues. In Wisconsin, common pests include termites, powder post beetles, wood boring ants and carpenter wasps.
Tip: Consult your home inspector or real estate agent for advice on which specialty inspections might be necessary based on your property and location.
Conclusion
A home inspection is an essential step in the home-buying process. It provides you with peace of mind and a clear understanding of your potential investment.
As the buyer, you will typically be responsible for the cost of the inspection, ensuring an unbiased evaluation of the home. Sellers, however, may opt for pre-listing inspections to address any issues before listing the property, minimizing the chance of negotiation during closing.
Depending on the home’s age and condition, additional specialized inspections for hazards such as mold, radon, asbestos, or lead paint may also be necessary. By taking these important steps, you can move forward with confidence, knowing you’ve done your due diligence to protect your investment.
Ensure a stress-free home purchase with Homesight, Inc. Our comprehensive home inspection services cover every detail, from the roof to the foundation, helping you make informed decisions. Schedule your inspection today for expert guidance and peace of mind!
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