It's a legitimate question, and you might be surprised when we answer, "not necessarily!" But before you stop reading, you need to know that chances are good that you do. Our latest feature answers this question for three different types of real estate transactions.

Do sellers need an inspection?

The simple answer to this question is no. The buyer usually pays for a home inspection. But on a national scale, more and more home sellers are taking the initiative and having their home pre-inspected before listing it.

Why, you may ask, would I want to consider paying for something that my buyer normally would? The answer is money.

Every home, no matter how new or how old, has conditions that will show up as "deficiencies" on an inspection report. With a pre-inspected home, you name your selling price taking into account any of these conditions. The buyer may still contract his or her own inspector, but it is unlikely that their inspector will uncover anything that you have not already disclosed to the buyer. Buy using this strategy, you prevent the buyer from renegotiating or backing out of the sale.

Renegotiations cost sellers a lot of money. In fact, for every $1.00 needed to correct conditions on a buyer's inspection report, the buyer will typically try to negotiate $2.00 off of the selling price. With a pre-inspection, you maintain control of the sale.

I'm buying a newly constructed home. Do I need an inspection?

Once again, probably not. There are, however, a couple of questions you should ask your builder.

Have you had this home inspected by an independent third party evaluator? Most of Atlanta's developers are very reputable business people. However, even the most competent builder can make an error. That is why it is becoming a common practice for builders to have an independent home inspector check their work. If they have already had this inspection performed, ask to see a copy of the report. Call the inspector and check him or her out. Ask all the questions that you would ask if you were hiring your own inspector. For more information about selecting an inspector order our free publication, "How To Choose A Home Inspection Company."

Many people confuse a home inspection with the county and state building code inspections. The two are distinctly different. The code inspector typically views six or more structures in a day and is checking to make sure that the builder has followed the necessary legal requirements. He does not have enough time in a visit to go over every detail of the structure and check for mistakes in workmanship or areas where special precautions may need to be taken for future safety. Make sure that the home has had both a code inspection and a third party evaluation.

I'm buying an existing home. Do I need an inspection?

On this one, you probably do. Unless the seller has already had a pre-inspection performed, you need an inspection to protect your investment, your rights, and your family. If the seller has had a pre-inspection, be sure to check the report and "inspect the inspector."

A home inspection protects your investment by helping you to make certain that you are not buying a lemon. An independent inspector works solely for you, and will provide you with a detailed report outlining the current condition of your potential home, any areas that are in need of repairs, and the estimated service life of various components within the home.

With a detailed inspection report, you usually have the right to renegotiate your sales contract to provide for the repair or correction of some deficiencies. This protects your rights as a homebuyer. If the seller is unwilling to make any corrections or discount the price, you may then decide whether you wish to cancel the contract or purchase the home anyway. Many sellers will agree to make some of the repairs for you, or give you rebates on the sales price. Even if you are buying a home in "As-Is" condition, a professional inspection will give you a detailed "punchlist" of repairs and corrections to make once you move in.

You should also be aware that it is not always reasonable to expect the seller to correct every item on the inspection report. You must decide which items are most important, and which ones you can live with.

And finally, the inspection protects the safety and well being of you and your entire family. Even a home that appears to be in fine shape may have hidden dangers that could threaten the life of you or a loved one. A professional inspector is trained to notice many of the warning signs of these deficiencies. Even if you are buying a home in "As-Is" condition, you need an inspection to warn you of these conditions.

For more information about what a home inspection can do for you, visit our Resources page.