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Home inspections can be conducted to protect the safety and well-being of residents after new construction or to determine home value. If you are currently a Chicago, Illinois homeowner, or are looking to buy a home, it is important to be familiar with Chicago, Illinois home inspection regulations.
Chicago, Illinois's inspection department will monitor the stages of construction to ensure compliance with Chicago, Illinois's building codes. Home inspections during construction are conducted to protect the safety of residents. Some home inspections are prerequisites for others, and the homeowner or general contractor is responsible for ensuring the proper order of these inspections.
Before a Chicago, Illinois lender will approve or fund a loan, a home appraisal must be conducted to determine if the home value is worth the amount of money you are asking for. Most appraised home values will match up with what buyers want to borrow, but in some cases, they do not, which can cause a lender to back out of your loan commitment.
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