What Are Home Inspections Really? Let’s learn about home inspections when buying a home in Virginia.

There is a legal principal in Virginia called “Caveat Emptor”, more commonly known as “Buyer Beware”.  With this principle, the onus is on a buyer to check out property they may buy.  Sellers have little obligation to disclose information about the property, which includes the home, other structures, and the land.

When it comes to buying residential real estate in Virginia, like buying a home, buyers can negotiate for a home inspection in their residential sales contract. I witness a great deal of confusion, actually a lack of understanding, of what a home inspection really is.

I describe a home inspection as a “home inspection period”, because that’s what it is. In the sales contract, there will be a period of time for the home inspection (that’s a “period”…) during which a home buyer can have multiple inspection activities.  Most people I meet misunderstand this home inspection to include only a single inspection activity.  Residential sales contracts typically permit buyers to have multiple inspection activities.  Home inspection activities can include having a licensed home inspector conduct their home inspection, and it can include other home inspection activities such as electrical, plumbing, HVAC, structural, and much more.  Inspections can be on the home, other structures, and the land.

Home inspections in a residential sales contract typically include a contingency as well.  This contingency means that a buyer can void a contract during the period of the home inspection.  For example, say a home buyer doesn’t like the results of a home inspection activity – maybe a roof inspector discovered damaged trusses that will cost a lot to repair – the home buyer has an option to issue a Notice to void the contract.  This Notice to void must occur during the period of the home inspection before it expires.

Here is a video presentation providing a review of the home inspection. Also, here is a link to another post regarding home inspections: https://veteranrealty.us/what-is-a-home-inspection/