Property Basics & Location

• Verify property address and legal description.
• Assess neighborhood quality (safety, upkeep, amenities, crime rates).
• Check proximity to schools, work, transport, shopping, and healthcare.
• Research local market trends, property values, and average rent.
• Investigate zoning regulations, land use restrictions, and future development plans.
• Check flood zone status (e.g., FEMA maps) and history.
• Evaluate school district ratings and reputation.
• Note proximity to undesirable features (e.g., highways, industrial zones, landfills).

Exterior Condition & Site

• Roof: Inspect condition, age, signs of damage, leaks, or missing shingles.
• Foundation: Examine for cracks, settling, water damage, or bowing walls.
• Siding/Exterior Walls: Check for damage, wear, rot, or pest infestation.
• Windows & Doors: Assess condition, seals, locks, and energy efficiency.
• Landscaping & Grading: Evaluate drainage, potential for water pooling, tree health (especially near structures).
• Pest Inspection: Look for signs of termites, rodents, carpenter ants, etc.
• Gutters & Downspouts: Check for proper installation, blockages, and drainage away from foundation.
• Fences, Gates & Retaining Walls: Assess condition and stability.
• Driveways, Walkways & Patios/Decks: Check for cracks, heaving, and safety hazards.
• Exterior Paint/Stain: Condition, peeling, or fading.

Interior Condition

• Layout & Flow: Evaluate functionality and appeal of the floor plan.
• Flooring, Walls & Ceilings: Inspect for damage, stains, wear, and levelness.
• Kitchen: Check appliances (age, condition), cabinets, countertops, sink, and disposal.
• Bathrooms: Assess fixtures (toilets, sinks, showers/tubs), plumbing, ventilation, and signs of leaks or mold.
• Water Damage & Mold: Look for current or past signs on ceilings, walls, and around plumbing.
• Paint & Trim: Note condition, quality, and need for repainting.
• Light Fixtures & Electrical Outlets: Test functionality and note any outdated or unsafe components.
• Doors & Hardware: Check interior doors for proper operation and condition of hardware.
• Closet & Storage Space: Evaluate adequacy.

Mechanical Systems & Utilities

• HVAC System: Note age, type (furnace, AC, heat pump), service history, and operational status. Test heating and cooling.
• Plumbing System: Check water heater (age, capacity, condition), visible pipes for leaks or corrosion, water pressure.
• Electrical System: Inspect panel (age, capacity, brand - some are problematic), wiring type (copper, aluminum), GFCI/AFCI outlets where required.
• Sump Pump: Presence and operational status (if applicable, especially in basements).
• Septic System/Sewer Line: Review inspection records, look for signs of issues (odors, slow drains, lush grass over septic field).
• Water Source & Quality: Public water or well? Any known quality issues? Filtration systems?
• Gas Lines & Meter: Check for leaks (smell), condition of lines and meter.

Attic, Basement & Crawl Spaces

• Attic: Check for proper insulation levels, adequate ventilation, signs of roof leaks, pest activity, or structural issues.
• Basement/Crawl Space: Look for signs of moisture intrusion, foundation cracks, pest activity, insulation, and ventilation.
• Accessibility & Safety: Note ease of access and any safety concerns in these areas.
• Vapor Barrier: Presence and condition in crawl spaces.

Financial Due Diligence

• Verify current rent roll and review lease agreements (if income property).
• Review property tax history, current assessment, and potential for reassessment.
• Obtain utility bills (electricity, gas, water, trash) for the past 12-24 months.
• Analyze operating expenses: insurance, maintenance records, management fees (if any).
• Compare asking price with recent comparable sales (comps) in the area.
• Estimate potential repair, renovation, and capital expenditure costs.
• Project potential rental income and research local vacancy rates.
• Calculate potential ROI, cash flow, and cap rate based on findings.
• Understand any HOA fees, special assessments, or other recurring costs.

Legal & Title Review

• Order and review a preliminary title report for liens, easements, or encumbrances.
• Verify property boundaries and obtain a survey if necessary or available.
• Review HOA/condo association documents (bylaws, financials, meeting minutes, rules) and fees.
• Understand local landlord-tenant laws and eviction procedures (if renting).
• Check for any pending litigation or legal issues related to the property.
• Ensure property description matches public records.

Safety & Compliance

• Smoke Detectors: Presence, functionality, and placement according to code.
• Carbon Monoxide Detectors: Presence, functionality, and placement.
• Fire Extinguishers: Availability and expiration dates.
• Egress: Ensure proper emergency escape routes from bedrooms and basement.
• Handrails & Guardrails: Check for stability and code compliance on stairs, decks, etc.
• Known Hazards: Asbestos, lead paint (especially in older homes), radon levels.

Post-Offer / Pre-Closing Steps (Contingencies)

• Schedule and complete a professional home inspection by a certified inspector.
• Schedule and complete any specialized inspections (e.g., pest, radon, mold, structural, well/septic) as needed.
• Obtain homeowners insurance quotes and bind coverage before closing.
• Secure financing: Loan approval, appraisal, and underwriting process.
• Negotiate repairs, credits, or price adjustments based on inspection findings.
• Review and approve all closing documents (e.g., Closing Disclosure, deed).
• Conduct a final walk-through of the property before closing to ensure agreed-upon condition.