When you buy a property, do a home inspection, even if it’s not an obligation. The home inspection, performed by a licensed home inspector, will reveal if there is any structural or mechanical issue to the house you’re intend to buy. It will give detailed information as to the physical condition of the property, including the roof and basement, the appliances and systems. It also includes an estimate of longevity for the existing components in the house. Septic tanks, propane tanks, pool pumps and heaters and all outside equipment are tested.
The timeframe for the home inspection is usually 10-15 days after the effective date of the contract. If you’re not pleased with the results of the inspection or if the seller doesn’t want to do the repairs that are advised by the home inspector, you can walk away and you will get back your binder deposit.