So we moved in, and one month later, we found a big bubble on the side of the staircase against the outside wall. At first we thought it was just masking tape from the construction, but when we poked it we found a totally hollow spot; it was a leak from outside. You could not miss this bubble, but somehow the home inspector hadn't bothered to check it. Then, one month later, we were visited with the nightmare of every homeowner: a swarm of ants. Those repairs cost us $492.

Sad to say, the Dolans, too, can be fooled. Think about it: It's in an inspector's interest that people put houses on the market. The more problems they bring up, the less likely you are to buy the house, and the more annoyed the real estate agents who recommend them are going to get. Inspectors get most of their referrals through brokers, and brokers might stay away from inspectors who muck up the sale too often.

Generally, you'll have to put a contract on the house and make a deposit into an escrow account before the seller will let you inspect the house. Make sure the contract includes a clause allowing you to get your deposit back if the inspector finds any major flaws. Figure if they're big enough to cite, they must be big flaws indeed.

The contract you sign with a home inspector often contains a lot of wiggle room for him should you later encounter an expensive problem that the inspector missed. Don't assume an inspection certifies an entirely clean bill of health for the property.

Still, it's better to have a half-baked inspection than none at all. Just don't be so naive as to think that if some major quarrel comes up after you buy the house, the seller will pay for it. You'll spend years in court. That is why we suggest having emergency funds for those moments such as the one when we discovered the hole in the staircase. You can rant and rave, but in the end you usually have to chalk it up to the cost of owning a home.

Who are these home inspectors we love and trust so much? Well, almost anyone can call him- or herself a "home inspector." Don't hire just anyone. Ask a knowledgeable friend for a referral. Real estate agents might be eager to give you names, but we don't recommend taking them up on the offer. It's too easy for an agent to suggest someone who'll give a superficial inspection, thereby encouraging you to grab the house. Check with your real estate lawyer if you have one.

Once you find a potential inspector, ask the $64,000 question: Are you certified by the American Society of Home Inspectors (ASHI)? If the answer is "no," say "no, thanks."

The ASHI requires inspectors to pass two exams and perform 250 certified inspections. Plus they must take 40 hours of refresher courses every two years. These are the toughest criteria of any organization that certifies inspectors.

But don't just take the inspector's word. You can check whether he is in good standing by calling ASHI at 1-800-743-ASHI . If you don't already have the names of a few inspectors, ASHI will send you a list of certified inspectors in your area, absolutely free, by mail or fax. You can also get this information from ASHI's Web site at www.ashi.org.

Once you've found your dream home, check out our articles on money-saving strategies for paying for it:

• Smart Ways to Make the Down Payment on Your House
• Two Questions You Must Ask Before Buying a Home
• How to Negotiate the Best Mortgage

Page « Previous 1 2 3 4 5