Home Inspection Explanation

One of the first things done after getting a property "Under Contract" is to have a Home Inspection. I occasionally get a buyer who does not want a Home Inspection. To me, it is the best money ever spent. If you REALLY do not want a home inspection, I will make you sign a document that says that although I encouraged you, you chose to not get an inspection and that you will not hold me or my Broker liable for any problems at the property. We feel that they're that important.

A good Home Inspector will show you how the mechanics of the home work. They will show you idiosyncrasies about the property, take photographs of issues and a whole lot more. Most of the Home Inspectors in our area will give you a detailed Report about all aspects of the home (plumbing, electric, roof, etc.) that include photographs of any issues. In this day and age it is my opinion that the photographs are critical. So many of our closings are for Buyers or Sellers who do not live in the area. Being able to email a photograph of the problem is essential. It is hard to argue about a problem with a roof when there is a picture showing exactly what the problem is.

Most Inspectors in this area will give the Buyer information on 3 kinds of issues.

•1. Minor issue. This means that everything is functional but something is technically wrong. Example: The garage is not insulated. (not necessarily wrong or broken.)

•2. Secondary Issue. Item is broken or not functioning or not present. This is the most common item seen on a report. Example: There are no GFI's on the Kitchen outlets.

•3. Major Safety Issue. Item is dangerous and should be fixed immediately. The Inspector will try to reach the current homeowner and advise them of the problem. Example: Water heater is not attached to gas line properly and is a safety hazard.

At this time (January 19, 2010), a Home Inspection will run you anywhere from $250. - $450. (depending on who you use and how large the house is).

There are 3 things The Buyer can do when we get the results of the Home Inspection.

•1. The Buyer can decide, "Everything is fine, let's continue with the sale".

•2. The Buyer can determine, "This house has many, many problems - I am going to terminate the "Purchase Agreement".

•3. The Buyer may Object to any part of the inspection and negotiate a cure. This may include asking for an item to be repaired or replaced, or a monetary adjustment.

It is important that all deadlines are met. The Home Inspection, the Objection Deadline and the Resolution Deadline. That is something that I will do - -make sure all deadlines are met.

The Buyer ‘owns' the Inspection Report. A copy of the report must be given to the Seller if there is an objection or termination. If, for some reason, the Agreement is Terminated other than the Home Inspection, the report may - or may not - be given to the Seller. For example, if the Buyer cannot get acceptable financing and so has to terminate, but the Home Inspection has been completed and is positive, the Buyer may choose to give the report to the Seller to use as a selling point to the next Buyer.

Today's Saying: Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has. -Margaret Mead

Linda Ferrara - Associate Broker

Coldwell Banker Enchantment Realty

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Cell: 575-519-9249