When should I have a professional home inspection done?
An independent professional home inspection, done at the right time, could save you thousands of dollars. The results may influence your purchase price, the terms of or contingencies to the purchase agreement and the type of insurance coverage you decide is needed. Knowing the condition of the house before the settlement date may save you costly repairs later on. A formal offer should include an inspection contingency. Hire your own inspector to ensure that your interests are being protected. 
When you find the home you want to purchase (even a new home), a home inspection will provide you with critical information about the condition of the house, what is included in the price and what is excluded. Negotiating needed improvements can only happen if the buyer is aware of them. While an appraisal may set the value of the home, the inspection verifies the specific details of the condition of the house such as:
• the cleaning or repairs needed
• the structural aspects of the house (such as the foundation, framing, roof)
• the internal systems (such as plumbing and electrical)
• other representations made by the seller
Knowing the actuality of the condition of the house, before structuring the purchase agreement, will allow you to include contingencies that the seller must meet before you become liable. A professional home inspector will know what to look for – what kinds of factors are important to evaluate before entering into a purchase commitment.
Prior to the loan closing , a final inspection should be done to ascertain that the conditions of the agreement have been met. Once you have signed, your options will be limited.