 
Real
Estate Inspections
You've finally found the home
you want, negotiated a contract and struck a deal. Now it's
time to have the property inspected. An inspection will allow
a qualified professional to take an objective look at the
current condition of the property and prepare a report. Why
have the property inspected? You are about to engage in a
significant financial transaction, an investment most likely.
You want to make sure the merchandise is in good condition.
If you have made an offer on a
property, you should have included a clause in the purchase
agreement that allows you to void the offer if the inspection
turns up a major problem. This is called an "inspection
contingency" clause. You may find it necessary to submit
a new offer based on the information received from the
inspection.
Finding a Real Estate
Inspector
The inspector you are looking
for is a professional who knows old homes and new homes inside
and out. One who crawls around the property looking for
structural and equipment flaws, and who will give his customer
a written report that will take some of the gamble out of
buying the property.
Hire an independent inspector
who has no vested interest in the transaction and who is a
member of a trade association, such as the American Society of
Home Inspectors. These members have agreed to abide by a
written code of ethics and prescribed standards of practice
designed to protect prospective buyers.
While a Real Estate agent like
myself might provide you with a list of qualified home
inspectors, you are free to interview anyone you wish -
Remember that the final decision regarding who to hire is
entirely yours. Never let another agent tell you that you
must use someone from their "approved" list!
What Do Real Estate
Inspectors Do?
An inspector can save a future
homeowner a lot of grief and expense by identifying potential
problems. Inspectors check the condition of the structural,
electrical, and mechanical elements of a house. While they
won't recommend whether or not you should buy the house, they
can tell you about defects they find and the estimated cost of
repairing or replacing the defect. Inspectors usually look for
significant defects only. Inspectors, unless contracted to do
otherwise, do not routinely check for termites, asbestos or
radon. They do not report on coldness of refrigerators,
accuracy of oven temperatures, carpet stains or loose door
knobs.
An inspection may not include
anything outside the house, such as pools, garages, sheds or
water flow from an outside well. Inspectors are not required
to check the adequacy of the heat supply to individual rooms,
examine carpet or drapes, or even make sure that the roofing
materials comply with local codes. They do not have to test
every single door and window or electrical outlet in the
house, only a representative sample.
A basic package may include
inspection of the following: central heating systems; central
cooling systems; interior plumbing systems and components; the
roof's structural soundness; walls, ceilings and floors;
foundations and basements; the operation of built-in
appliances. Make sure the service you hire has adequate
liability insurance. Especially important is Errors &
Omissions Insurance. This insurance protects the inspector,
and indirectly you, against any post-inspection legal
problems.
The Inspection
Report
| Your
goal is to obtain a written report detailing the
condition of the structural and operational functions
of the house.
The report should
assess the quality of the following parts of the
house: grading, drainage, landscaping, fencing, paved
areas, garage, exterior walls, doors, windows,
porches, decks, roofing materials, chimneys, gutters,
skylights, basements, crawl spaces, attics,
construction, structural stability, water penetration,
ventilation, insulation, plumbing systems pipes,
drainage, faucets, water heater, water pressure,
laundry appliances, traps, electrical system,
fuses, circuit breakers, wires, outlets, switches,
heating and cooling systems, kitchen and bathroom
fixtures, appliances, plumbing and flooring.
You may want to hire a
specialist if you want a swimming pool, tennis court,
well or septic system inspected. |
|
The report may be presented as
a set of worksheets or checklists covering the structure
inspected, from roof to basement. Brief remarks may be added
as necessary. The inspector may write a report regarding the
overall condition of the property, along with suggested
repairs or improvements.
The report should include
information regarding current problems and those that may be
pending. Whatever form the report takes, it should give you a
realistic idea of what the condition of the house is. Never
accept a verbal report. You want a written record of the
inspection.
The Contract
Shop around. Find out exactly
what the inspector will evaluate. Find out what the fee is for
the basic inspection and for additional services like radon
testing or water testing. Ask how long the inspection will
last. A good home inspection should take about three hours or
more. Be skeptical if the inspector does not want you to
accompany him during the inspection. You can learn a lot by
tagging along. Most likely he will go slower with you around.
Some of the larger home
inspection services may offer "inspection
warranties." These are usually good for one year. They
can add credibility to the service's report. Ask to see the
warranty before you pay for it. An inspection warranty can be
useful if you are selling a home. It could be a comforting
sales tool.
The Purchase Agreement
|
|
Assuming
that you sign a purchase agreement before an
inspection, make certain that a clause is inserted
that states that the sale of the property is
contingent upon an inspection report indicating that
no repair or replacement above $500 is needed. You can
adjust this number as you see fit.
A typical
contingency clause may read as follows:
This sale is contingent
upon receipt of a structural, mechanical, and
electrical inspection of the house and a condition
report by (ABC Inspection Company). The cost of the
inspection will be assumed by the buyer and the
inspection will be performed within seven (7) days of
the signing of this agreement. If the condition report
reveals any structural, mechanical or electrical
defect(s) for which the cost of correcting any such
defect will exceed ($500), the seller will have the
following options. A) Effect the necessary correction
of the defect(s). B) Negotiate the cost of correcting
the defect(s) with the buyer. C) Declare the agreement
null and void. |
In the event that the seller
does not exercise any of these options, or cannot negotiate
the cost of repairing the defect(s) with the buyer, and if the
buyer does not choose to ignore the defect, the buyer will
have the right to declare the agreement null and void. Should
either party to this agreement make such a declaration, any
deposit made by the buyer shall be refunded in full. All
options must be exercised within seven (7) days of the
inspection date."
Some contracts state that the
seller has to make repairs up to a specified dollar amount. If
the seller does not comply, the buyer can go ahead anyway, or
back out of the deal. If neither want to make the repairs at
that price, either can nullify the agreement.
Real
Estate Inspectors *
| Premier Home
Inspection |
Eric Hill |
(949)
380-9392 |
| Inspecdoc |
|
(888)
278-9361 |
| Amerispec |
Jim &
Justin Woodford |
(949)
454-0508 |
|
|
|
|
|
|
* Inclusion on this list does not imply a
recommendation. You should make your own independent decision
when hiring a home inspector.
|
