By Ryan Martin - Thumb Home Inspection
This a very common question for new home buyers in Michigan. To fully tackle this question, I will dive into a couple different areas of concern. I will first go into what the State requires, and then what a Lender will require.
What The State of Michigan Requires
The State of Michigan has some of the most relaxed regulations around requirements to be a Home Inspector. There is no state level certification per say. This is good if you want to become a Home Inspector but unfortunately can cause headaches for first time home buyers or really any home buyer for that matter. Taken from the State of Michigan’s website: “Certified home inspectors are those who have completed a course or study program; and then have a certificate of proof that the course has been completed. This certificate is not issued by the state, nor recognized by the state.” This is why it is very important for a Home Buyer to do their due diligence when picking a Home Inspector. Check out my other blog titled “What is the average cost of a Home Inspection in Michigan?” for more information on this.
What the Lender requires
You may be asking yourself “then who is requiring me to get an inspection” at this point. Good question. A lot of the time a Mortgage Lender will require a Home Inspection. There are multiple reasons for this. Mainly it is in their best interest that you pay back your loan they are giving you. The inspection helps the buyer understand better what they are purchasing which in turn will help the buyer determine if the home is worth what the asking price is, at least is it worth it to that particular buyer. This is subjective to the buyer. It is in everyone’s best interest that the home buyer is happy with their new purchase. The Home Inspection is just another tool to aid in this. It is important to remember that the Appraisal will ultimately determine what the lender is willing to give out to the Home Buyer. An Inspection can come back satisfactory to the buyer but if the asking price is too high, and the appraisal is low, a Lender will most likely not feel comfortable giving out a loan. These matters should be further discussed with the Home Buyer’s Real Estate Agent if they have more questions in this area.
In conclusion the Home Inspection is another layer of protection for everyone involved in the sale of a home. Please remember as a Home Buyer to do proper research on choosing a Home Inspector that best suits your needs and wants. The State of Michigan does not require a Home Buyer to have a Home Inspection done prior to the purchase. It is however in the Home Buyers best interest to do so. It is typically your Lender who will require you to have a Home Inspection done. I always recommend choosing an InterNACHI certified Home Inspector no matter which inspector you choose.