Before you close on your property, do a final walkthrough to ensure everything is in the condition specified in the sale agreement and that any repairs that were agreed to based on the inspection report have been made as arranged.

Buying a home is a major investment and doing inspections gives valuable professional assessments that allow the buyer to make an informed decision on whether or not their investment has any significant defects.

Homebuyers usually arrange for an inspection after signing a contract or purchase agreement with the seller. The results may be available immediately or within a few days. The home inspector will review his or her findings with you and alert you to any costly or potentially hazardous conditions. In some cases, you may be advised not to buy the home unless such problems are remedied.

You could include a clause in your purchase agreement that makes your purchase contingent upon satisfactory inspection results. If major problems are found, you can back out of the deal. If costly repairs are warranted, the seller may be willing to adjust the home's price or the contract's terms. But when only minor repairs are needed, the buyer and seller can usually work out an agreement that won't affect the sale price.