Mortgage Glossary
Home Inspection
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A home inspection is a professional examination of a property's condition, covering structure, systems, and major components.
What Home Inspection means
It's typically ordered by the buyer during the inspection contingency and informs whether to proceed, renegotiate, or cancel. It differs from an appraisal, which estimates value rather than condition.
Florida example
A Florida buyer's inspector finds an aging roof and a failing AC. Within the standard As-Is contract's 15-day inspection period, the buyer can request repairs, a credit, or back out without losing the deposit.
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