Purpose of Inspection
The main purpose of inspection is to provide the client with objective, independent, and impartial information regarding the condition of the systems and components of the home that are defective and need immediate attention or are anticipated, that could have a deleterious effect on the building and its occupants or economic value or marketability of the property. Conditions may be safety concerns, damage or deterioration of building components or equipment, anticipated problem due to existing defects or age of building component and equipment, City Building and Safety visible code violations applicable to the age of the structure, or City ordinances and State laws.
Buying a home could be the largest single investment you will ever make. Knowing the true condition of the property will enable you to determine the true cost of buying it and as well as to repair or correct minor problems before they become major ones. After the inspection, you will know more about the house, which will allow you to make decisions with confidence.
The building(s) on the property should not necessarily be in perfect condition before you buy it however, since there is no such a perfect building even how well it has been maintained over the years. Even new houses have some problems.
The true value of the property is the purchase price plus the costs of replacement or repairs so that the property is at similar condition to its closest comparable house. You might be getting a good buy if the market value is higher than the purchase price. The house can be valued by comparing it to other houses recently sold in the neighborhood by adjusting its value base on proximity, living area, type of sale, location, lot area, view, style, quality of construction, age, condition, appliances, energy efficiency, garage/carport, and porch/patio/deck.