Home inspections confuse a lot of first time home buyers, because there are a number of different inspections that take place during the home buying process. But it's important to understand the most common home inspections, so we've summarized them for you below.

Primary Home Inspection
The first inspection, of course, is your inspection of the home before buying it. Believe it or not, many home buyers overlook the home inspection, or else don't take it seriously. They are paying more attention to the size and number of rooms in the home, rather than the condition of important elements within the home.

Keep in mind that when you buy a home you, are generally buying it in "as is" condition (unless specific provisions are added to the contract saying otherwise). For this reason, you want to make sure you know what is, and is not, working in a home. You'll also want to know what repairs you might have to make, or what repairs you might ask the seller to make. For all of these reasons, the primary home inspection is essential.

Engineer's Reports
Prior to signing a contract, most home buyers hire an engineer to do what is typically referred to as an engineer's report. This detailed inspection is done on behalf of the buyer and will conclude with a detailed report on the condition of the home, its electrical system, plumbing, heating, roof, foundation, etc. In some states, this is part of the primary home inspection mentioned above.

Termite Inspections
About the same time as the primary home inspection, you will likely have a termite inspection. As the name implies, this inspection checks for the presence of termites or other wood-destroying insects within the home. This inspection is done on behalf of the buyer and the mortgage company. In most cases, you will have to provide a copy of the inspection for your mortgage lender.

Oil Tank Inspections
Some homes also need oil tank inspections. Some sellers will not allow this type of inspection, as it can be invasive (for example, if the oil tanks are underground). In most states, the homeowner is responsible for any leaks.

Well Water Inspections
Depending on where the home is located, you may also need a well water test to make sure the water is potable.

Appraisal / Appraiser's Inspection
Your bank will also inspect the home in order to obtain an appraisal on the value of the home. They'll also want to make sure there are no problems with the home, with respect to provisions in the type of mortgage you seek. FHA mortgages, for example, require the home to have certain features in place and be in a specific condition. Therefore, the bank will do an inspection to protect their interest in the home.

Final Walk-Through Inspection
The buyers will do an inspection near the end of the real estate transaction to make sure the house is in the same condition it was when they agreed to buy it. During this final "walk-through," you'll want to ensure that everything is in working order, and that the house has not been damaged in any way since you first signed the contract.

As each of these inspections take place, keep in mind that no home is perfect. You'll need to weigh the pros and cons of every home in order to make the right purchasing decision. It's also a good idea to have an off-the-record conversation with all of the inspectors to get additional insights, if they are willing to give them.

All in all, you can expect a number of inspections to take place during your home buying process. These inspections are for your benefit, as the home buyer, so you need to take each inspection seriously and consider the outcome carefully.

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