The home inspection it a very important part of todays home buying process, the inspection will arm you with information you need to make an informed decision and plan for the future. To ensure you get the opportunity to perform a home inspection an Inspection Contingency should be included in the purchase agreement. Assuming the purchase agreement has been accepted you will then have a set number of days to complete your inspection(s). The number of days you get to complete your inspection was agreed to in the purchase agreement. In Minnesota it’s common to ask for 3-5 days to do the inspection(s).
A home inspection is done by a third party. You can ask your Realtor, friend or family for a recommendation, the decision on who to use is entirely up to you. An inspector will spend between 3 to 5 hours in the home. They look at everything, including but not limited to the exterior; roof, gutters, grading, interior; walls, electrical, plumbing, mechanicals; furnace, ac and hot water heater. You have the option to set up as many inspections as you would like, you are responsible for the cost of these inspections. And yes, you should attend the inspection, at the very least you should show up for the last hour so you can talk to the inspector.
After the inspector completes their inspection they will provide you with a written evaluation of the home. This evaluation will tell you about the current condition of the home, they can not and do not predict the future. At this time you can use this information (the evaluation) to make an informed decision about the home. Your choices are; to proceed with the purchase, negotiate with the seller to fix or pay for necessary repairs uncovered during the inspection or back out of the deal.