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Home Inspections
If you were purchasing a used car, you would want an inspection by a certified mechanic. A home purchase is no different.
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| Home inspector Mike Wagner examines the heat exchanger portion of a furnace for rusting and signs of deterioration. |
The home inspection is completely optional for home buyers (unless your type of financing requires it). The fee, usually around $275, may feel like just another expense on your way to home ownership, but its cheap insurance for a major purchase.
Finding a good home inspector should not be difficult. However, there are a few places to start your search. Ask your Realtor, friends and family for recommendations. Home inspectors in many states are not required to be licensed. Insist on a home inspector with a reputable certification and credentials. The American Society of Home Inspectors (ASHI) has rigorous requirements for membership including an intensive apprenticeship program for home inspectors. They can be found online at www.ashi.com or in the Yellow Pages under "home inspectors."
The ASHI code, or Standards of Practice, are referenced by state and federal legislation covering home inspections. The associations uniform guidelines are generally recognized as definitive standards for home inspections across the country.
Discuss the fees over the phone with inspection companies that you interview. Describe the home you are purchasing and any areas of concern that you may have before the home inspection.
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| These rusted pipes on the exterior of the home may appear innocuous. However, the home inspection revealed that these are likely remnants of an underground storage tank for heating oil. Old tanks may leak their contents into surrounding soil. |
A proper and thorough home inspection should last about 3 hours for most homes and cover a variety of aspects. Your inspector should get "down and dirty." Inspecting the crawlspace, attic and roof is where they earn their fee. A complete inspection report will document the condition of a variety of areas including heating, air conditioning, major mechanicals, built-in appliances, basement, foundation, roof, walls, attics, exterior, electrical, plumbing and grounds.
Most home inspectors will provide the buyer with a report generated the following day or even on-site. Mike Wagner of Meridian Inspection Group in Indianapolis brings a laptop and printer to each inspection to give his clients a computer-generated report at the conclusion of the inspection.
Its a good idea to bring a camera to the home inspection. Be sure to get permission to photograph inside the home first from the seller or his agent. Your camera will help document required repairs in tough-to-reach spaces in the attic or crawlspace that may need to be explained to the seller in the event of any inspection negotiations.
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| This home inspection revealed a taped and exposed wire junction which represented a potential fire hazard. The inspection report recommended that the wires be properly housed in a junction box. |
The buyer is always encouraged to be present at the home inspection. If you can't be present for the duration of the home inspection, be sure to attend the last hour. The inspector will be able to review his findings and show you his concerns firsthand. During the inspection, ask questions and don't be afraid to follow the inspector around to see what he is poking at.
If you are obtaining an FHA loan, you will be required to present a termite report to the title company at the time of closing. This document can be obtained at the time of the home inspection for a nominal fee, usually around $50.
If evidence of termite infestation is found, the lender who is packaging your FHA loan will require that the structurally damaged wood be repaired and that the termite infestation be treated prior to closing. The seller will demonstrate that the required repairs have been completed and treatment applied by providing the closing agent with paid receipts at the time of closing.
Use your inspection report to address your concerns with the seller. Remember that the inspection is time for addressing issues of major or safety concerns. Maintenance items like gutter cleaning and chimney sweeping are a part of home ownership and will likely not be addressed by the seller. Be fair in your repair requests to the other party, but use your inspection report to protect your investment.
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2003 by www.davidmeek.com
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