Home Inspection
Definition
- Prior to purchasing a property, the buyer should request that an inspection or examination be conducted. This inspection involves an impartial third party who examines both the visible structure and the internal systems such as heating, water, electrical, etc. Typically, a home inspector will identify all necessary repairs. The actual sale of the property often depends on the outcome of the home inspection.
Synonyms
house inspection, property inspector, examination
Alternate Spellings
fees, asbestos, hazards, c/s
Related Terms and Acronyms
- Appraiser — Definition,
- A person qualified by education, training, and experience to estimate the value of real property and personal property.
- Asbestos (asb) — Abbreviation,
- A fire-resistant element that once was commonly used for insulation. It poses a lung hazard.
- Building Inspector — Definition,
- A local government employee who enforces the building code and makes sure construction and renovation work is done properly.
- Contingency — Definition,
- A condition that must be met before a property sale can be completed, such as a home inspection or mortgage approval.
- Corrective Work — Definition,
- Repairs or maintenance that a buyer requests be done on a house before closing.
- Curable Defect — Definition,
- A problem with a property that can be remedied. Peeling paint is a curable defect, but location in a crime-ridden neighbourhood is not.
- Curtain Wall — Definition,
- A non-lead bearing exterior wall.
- Dry Rot — Definition,
- A fungal decay that causes lumber to crumble.
- Drywall — Definition,
- Panels of gypsum plaster wrapped in thin cardboard and attached to the house framing to create interior walls.
- Environmental Impact Statement (EIS) — Acronym,
- A government-required evaluation of how construction will affect the environment surrounding a site.
- Home Inspector — Definition,
- A person who has a broad general knowledge relating to basic home construction, common household problems and methods for their correction.
- Inspection — Definition,
- A critically and carefully performed examination.
- Inspection Report — Definition,
- The documentation of a thorough examination of a house's visible structural parts and systems, conducted before purchase.
- Latent Defect — Definition,
- A deficiency in a piece of property that can't be seen easily, such as termite damage or the presence of dangerous levels of radon.
- Load-bearing Wall — Definition,
- Any exterior wall or interior wall that supports its weight and the weight of other parts of the building.
- Schematic Designs — Definition,
- Structural plans for a building's mechanical systems, such as its plumbing and electrical functions.
- Walk-through — Definition,
- A buyer's final inspection of a property, usually on the day of closing or the day before.
