Inspection Report

Definition

  • A formal written report detailing the examination of a property's visible structure and internal systems. The inspection and report are done prior to the completion of a real estate transaction.

Synonyms
home inspection report

Related Terms and Acronyms

  • Appraisal Definition,
    • An estimate of the market value of a piece of real estate made by a competent professional who knows local real estate prices and markets.
  • Appraisal Report Definition,
    • A detailed evaluation of the value of a property based on an inspection and a review of the values of nearby, comparable properties.
  • Appraiser Definition,
    • A person qualified by education, training, and experience to estimate the value of real property and personal property.
  • Building Inspector Definition,
    • A local government employee who enforces the building code and makes sure construction and renovation work is done properly.
  • Credit Report (CR) Acronym, Very Important,
    • A report on a loan applicant's willingness and ability to make payments in a timely manner in the past. This report is provided to the bank by an outside agency.
    A report that outlines the credit worthiness of an individual or entity.
  • Home Inspection Definition,
    • A thorough examination of a house's visible structural parts and systems, conducted before purchase.
  • Inspection Definition,
    • A critically and carefully performed examination.
  • Mechanical Systems Definition,
    • A house's heating, cooling, plumbing and electrical apparatus.
  • Property Report Definition,
    • A legal document prepared by a surveyor that shows the locations of all visible public and private improvements relative to property boundaries.
    • A legal disclosure that developers of timeshare properties are required to give to prospective buyers.
  • Survey (srvy) Abbreviation,
    • A map executed by a licensed surveyor, which sets down precisely the boundaries of a given property as well as improvements, references to known landmarks, and the property's notable features.
    As in surveyed land.
  • Walk-through Definition,
    • A buyer's final inspection of a property, usually on the day of closing or the day before.
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