Important Facts You Should Know About a Home Inspection
Having your possible investment inspected is not only a necessary part of completing the home buying process, but a smart one as well. Not only will you be able to identify existing problems that the current owners are responsible to fix, but you may also be able to get some money taken off the price of the home if they decide not to complete the work. If there are no gutters on the back end of the house, for example, they may take off the market value for both the new materials and the labor to install them. On the other hand, some things that may seem problematic to your untrained eye may prove to be normal upon a proper inspection. It’s important for you to be present during the entire process so the home inspector can point out what he sees.
One of the first things you want to check when choosing a home inspector are the credentials and experience level of the servicing agency. When signing up with a family business, be sure to get the older more experienced inspector as opposed to the grandson who’s just starting out in the business. Don’t be afraid to be specific about who you would like to complete your inspection, and ask for credentials. An inspector with proof of membership in a home inspector’s coalition or association of realtors will probably be more reliable and well-established. Equally important and required by law is the home inspector’s license.
Before hiring your home inspector have him explain the process of the inspection and also how he will present the information to you. A good inspector will require at least 3 hours at the home and require you to be present. An even better inspector will take notes and use a rating system to give you at the end of his inspection. A precise examiner will include every detail, including the weather of that day. The written information may or may not include a table of contents. Regardless of this inclusion the information you receive should contain grades for each area of the home as well as summaries and recommendations. Projected costs and life expectancies of components in your home may be included if you have an experienced inspector who has access to the book Home Tech Remodeling and Renovation Cost Estimator, a common book among home inspectors that includes costs researched and specified to your location.
The inspection should begin on the exterior and include everything on the property. Common things to look for are cracks in the concrete sidewalk, which can cause pedestrian injury and result in liability. The quality of the roof is another important part of the exterior inspection and should include your inspector actually going up on the roof to take a look. While walking around, the inspector should point out what he is observing and why or why not it is sufficient. Each area should be graded and commented on in the inspector’s book as he walks around. A top of the line inspector will include potential problems and solutions that may not be currently an issue but could prove to become one later on down the line.
Another important area to scrutinize is the foundation and structure of the home. For example, a bent wooden frame in the basement may appear to be a problem but in fact may turn out to have just been a normal part of the constructing and aging process. Poor soil layout around the foundation may cause possible water damage in the basement and can be avoided by building up the slope. Your inspector should point out these things as well, not just the things that the current owners are required by law to fix.
Other areas to include in your inspection are the plumbing, heating and/or cooling system, electric, interior, as well as any garages or outdoor buildings that are part of the purchase. Each area should be thoroughly examined so that you feel comfortable with the findings. Be sure to ask a lot of questions if you are a first time home buyer and are unsure. The last thing you need to have no heat when you first move in because you didn’t know how to check the oil tank!
The summary of important findings will include all of the problems the home inspector found during his examination. This will be sent to the owners or their representation and most likely need to be negotiated. They may decide to fix some things, and in that case must provide receipts at the closing. If they choose not to fix the problems they will most likely offer to deduct an amount from the home purchase or write you a separate check. Either way, be sure you are 100% comfortable with everything before signing on the dotted line. Once the closing is finished, everything becomes your problem, not theirs.
Finally, ask your home inspector if you can call him with any questions you may have during your life as the home owner. An inspector who is confident in his abilities will have no problem helping you decide whether or not you should listen to the oil company who insists you must replace the old heating unit or the chimney sweep who tries to convince you that the interior of the chimney needs to be tiled.
For more detailed information on what your inspection should and should not include visit the American Society of Home Inspectors website for the standards of practice and code of ethics. Don’t forget to bring it with you on the day of inspection!
