INSPECTIONS

Buying a home may well be the largest financial investment you will ever make. Naturally you will want to know as much as possible about the property before you finalize the purchase at closing.

Usually, the seller will provide a property disclosure for interested buyers prior to writing a contract.  This will declare the material facts about the physical condition of the property.  The property disclosure does not take the place of a buyer’s inspection that is usually made after a contract is completed.  A provision for a home inspection can be added to the sales contract identifying the areas to be inspected by a professional inspector. The purpose of the inspection is to find major defects in the home. 

It's important to hire a knowledgeable, independent home inspector for advice on the overall condition of the property. The purchase contract usually requires specific time periods for each inspection, and it's critical that these time frames be met. Usually the cost for any and all inspections and re-inspections are paid by the Buyer. Prices can range from $250 to $500 for whole-house inspections.

Some examples of common inspections are:

• Structural - Defects caused by poor construction, soil movement, water or drainage conditions, settlement, fire, etc.
• Environmental Hazards - Including asbestos, lead-based paint, radon gas or any other toxic material.
• Roof - Can include framing members, decking and shingle condition.
• EMP - Electrical, Mechanical and Plumbing - Should include electrical and plumbing systems, built-in appliances, heating and cooling systems, swimming pool/spas, sprinkler systems and security systems.
• Termite - Report would show any visible infestation or visible damage caused by and wood destroying organism (termites, water damage, wood rot).

Many companies specialize in only one area of inspection, and others will group several together and offer a package price. Whichever route you go, assure yourself you are getting the inspections you need. Many can be found in the yellow pages or your Broker can provide a list of several of each to choose from.