Step1: Pre-consideration | Step2: Finance/Qualification | Step3: Purchase/Closing
Step3: Purchase/Closing
- How to Buy a Home : The basic steps
- How to make an Offer to Purchase : Step by step
- What about a Survey? : You probably will need one
- Should I get a Home Inspection?: Yes
- Real Estate Condition Report : Seller should fully disclose
- Things to know about Legal costs
- Some Closing Tips : Be ready
4. Should I get a Home Inspection? : Yes
> Why is a professional Inspection so important...
THINK ABOUT IT... If you are buying a used car for a few hundred dollars, you will likely have someone look it over for you --- unless you are an expert mechanic. WHY? You want to know before you shell out your money that the car will perform for you and you want to know if expensive repairs may be needed now or in the near future.
If you go to that much trouble for a small investment that depreciates every day you own it --- Why, on earth, wouldn't you do the same for a $100,000, $200,000 or more investment that is expected to be worth more when you sell it than it is the day you buy?!?
I feel so strongly that the buyer should have a professional inspection, that I require you to sign a statement acknowledging that you were advised to have one if you decide against it. No matter how thorough the seller is with required and / or additional condition reports, it is always possible that a significant problem could turn up that the seller didn't know about.
Not only does the inspections discover defects. A pre-purchase inspection will help you, the buyer, know the property you are buying and help you feel comfortable with your purchase. We perceive that structures are built to last forever, but integral parts and systems will wear out on a predictable basis. An inspection will help you plan and budget for these expenses and view them realistically. Additional services can also be included: you may need foundation or roofing experts to assist you. A typical home inspection in this area runs approximately $250 to $350 dollars.
> WHEN CHOOSING AN INSPECTOR, CONSIDER THE FOLLOWING FACTORS:
- Exactly what the home inspector does and does not inspect?
- What scientific instruments does the inspector use, e.g. moisture detectors, combustible gas detectors, etc.?
- What are the inspector's professional organization affiliations and memberships?
- What education and licensing does the inspector have?
- Does the inspector work full time and how many inspections has he or she conducted?
- Does the inspector use a check-off list report or is it a written narrative inspection report?
- Does the inspector have liability and errors and omissions insurance?
- Is the inspector involved in other businesses that might create a conflict of interest, e.g. a plumber or carpenter?
> A Home Inspection should include among other items, a comprehensive inspection of :
- Roofing/Flashing/Chimneys
- Exterior
- Structure
- Electrical
- Heating
- Cooling/Heat Pumps
- Insulation
- Plumbing
- Interiors
The typical home inspection will take between 2 to 4 hours to complete.
|
