When planning the purchase of a home, with or without the assistance of a real estate broker, the burden of protecting yourself from unexpected "money pit" issues rests on your shoulders. Don't be clueless or easily disadvantaged - learn the facts about this critical process. Carefully plan and be prepared for the inspection process.

Some home buyers unexpectedly discover surprises concerning the physical condition of the property purchased. Could these surprises be reasonably avoided or minimized somewhat? Consider the following five important concepts when planning home inspections to insure greater protection from unknown property deficiencies.

1. Property owners are not always aware of the true physical condition of the property they own.
2. Property owners generally have no compelling reason to diligently discover adverse physical conditions about their homes.
3. There is no such thing as the perfect home inspector who can find every single property deficiency.
4. There is no home, whether newly constructed or pre-owned, that is without the potential for physical deficiencies.
5. No mater how thorough and revealing an inspection may be today, tomorrow is another day.

Let's examine these 5 concepts more thoroughly. Then we'll see how the "informed" buyer can become better equipped in planning the inspection process. In doing so, the buyer may avoid getting caught with surprises after the purchase is made.

First, put yourself in the position of a property owner. How much do you think you really understand about the property's condition? It's just like your car - do you really know its true mechanical condition? Probably not, unless you've taken it to a mechanic. So if a property owner hasn't thoroughly inspected the property recently, you can bet the true condition probably isn't known.

Many states require the property owner to furnish some form of a "seller's disclosure of property condition" notice to the buyer. These notices vary as to content, delivery, timing, and consequences when not providing one. These notices can't possibly cover every type of problem nor can they assure the buyer that the information correctly reflects the exact condition of the property. They are intended to indicate the minimum legal requirements for such disclosure.

Second, in the same sense that property owners generally don't know the true condition of their homes they are selling, they usually don't have the incentive to find out. The mere knowledge of a defect must be disclosed to prospective buyers in accordance with legal requirements in most states. But unknown deficiencies need not be disclosed because they are not known. Ignorance, indeed, may be bliss.

Obviously, buyers would be more informed about the condition of the property being bought if property owners conducted thorough inspections before offering their properties for sale. Never assume a property owner has been that diligent!

Otherwise, there just isn't any incentive for property owners to check their properties because known deficiencies may have to be disclosed and/or repaired, and that could be costly for the owner as it could "sabotage" the transaction. Unfortunately, some sellers may assume some buyers may be more intent in getting a property with defects rather than being concerned about the physical and financial hazards that may occur later.

Third, while there are certainly competent home inspectors, no single inspector is capable of discovering every single deficiency in a property nor qualified to judge every component of a property. In fact, it may be necessary to use a variety of experts such as a structural engineer, an environmental consultant, a licensed plumber or electrician, a roofing contractor, or others to determine the overall condition of the home being bought. Just remember, none is infallible.

Typically, home buyers engage the services of a general home inspector. This individual may be a contractor, engineer, or other trained specialist. In some areas state agencies may license and/or regulate the practices of home inspectors. Those agencies may require standardized inspection report forms that the home buyer should obtain in advance of the inspection process. Knowing in advance what the inspector is required to report may allow the home buyer to understand what may not be covered by the inspection as well.

Fourth, never assume the age of a house may determine the likelihood, or lack of, potential deficiencies. Poorly built, newly constructed homes can have as many hidden problems as 50-year-old homes. The quality or intensity of the inspection process should not be diminished just because the house is new. The only prudent decision that should be made is inspect, inspect, inspect. Even the most meticulous homeowner won't know all the problems that could be lurking unknown.

Fifth, no competent inspector will offer a future warranty on inspected items. The plumbing, air conditioning and heating systems reported as "working" means they are "working today". Don't assume they will be operational at a later date. In fact, expect "systems" to fail. Roofs will develop new leaks as will plumbing; windowpanes may break and heavy rains may cause new drainage problems to occur. Know the reasonable operational limitations of the various systems, especially the costly ones to repair or replace.

After the foregoing "reality check", what must the informed home buyer consumer consider in moving forward with the inspection process? While there may be many options, below are several recommendations to better protect your buying interests through the inspection and purchase process. However, don't limit your home buying inspection decision to these recommendations alone - check with others who have been through the process, consumer advocacy groups, and even attorneys who have pursued legal actions against those who may have failed to honestly deal with inspection matters or disclosed property conditions.

1. Interview several home inspectors IN ADVANCE of commencing the buying process. Don't wait until you find the house to buy to start looking for the most competent inspector. Advance planning is a must if you want to limit risks. For a list of possible inspector interview questions see Home Inspector Interview Guide .
2. Attend the inspection with the inspector. Ask questions and be an active participant in the process. If you don't understand the implications of the revealed deficiencies, ask the inspector. Not only should you walk away with a clear understanding of potential "systems" problems, but you should also gain valuable knowledge about preventative maintenance ideas. When attending the inspection, carry and use a portable tape recorder or video camera to record the entire event for later review and information. Photographs also serve to document inspection findings.
3. If you engage the services of a real estate professional to represent your home buying interests, be sure that real estate person is present during the inspections. Many real estate people are hesitant to attend inspections out of fear of being liable for problems revealed or not revealed by the inspection. Real estate professionals aren't inspectors, but the better ones certainly understand the inspection process. They can also help you possibly determine whether the inspector is reasonably competent. Be wary of using "buyer's agents" who refuse to attend inspections as they may be more concerned with their own interests rather than in protecting yours.
4. Understand what the true repair cost may be of deficiencies revealed by the inspection process. Some inspectors may be prohibited from providing repair estimates or may not be knowledgeable or not familiar with current repair costs. The best inspectors provide "independent" inspection services and do not attempt to solicit repair business. Building contractors and similar service providers who know current building costs may be the best source for determining repair costs. Don't guess repair costs - get written estimates. Written documentation better helps in negotiating repair concessions with property owners.
5. If you are obtaining a mortgage as a part of your home purchase, request the mortgage person to attend the inspection of the property with you. Mortgage people have an obligation to insure that the collateral of the loan (the real estate) is in reasonable condition. Inspections that reveal a number of physical deficiencies may result in "lender required repairs" as a condition of obtaining the requested mortgage. The mortgage person, who should be on "your side" in the purchase transaction, can be a helpful ally in getting repair requests negotiated as a condition of the home purchase. Mortgage people who resist attending property inspections with you may be more interested in making the loan "work" than in truly protecting your home buying interests.
6. Ask the seller to be present when the inspections are conducted. Since the seller has the best knowledge about the property, the inspector should have reasonable access to the seller to learn how certain items may operate, how to access others, or for just reasonable communication. If the seller can't be present or refuses to attend, have the seller's telephone number handy where the seller can be contacted by the inspector for answers to inspection questions.
7. Any purchase offer made for a property should include some type of "contingency" to permit the buyer the opportunity to inspect the property before the buyer is committed to the purchase. This provision should allow the buyer the right to terminate the contract if the inspections are unsatisfactory. Some contract forms provide these provisions while other forms require clauses to be inserted. Be sure you understand the significance of these clauses and the rights you may have in using them.
8. Before commencing the home buying process in general or property inspections in particular, engage the services of a competent real estate attorney. Doing so may add a "preventive" component to your transaction and avoid unnecessary legal costs later.

The equity value and living comfort of the eventual home purchase may be greatly enhanced by proper preparation. Quality home inspections can aid in that enjoyment with fewer surprises. Good planning is the first step.