To protect yourself, it is absolutely essential to have the house inspected before you buy it, no matter if the house is brand new, a century old or distressed. Although home inspections are not required by law, they are often required by banks before they will approve a mortgage.“Absolutely, you’ve got to have your home inspected, even if your lender doesn’t require it,” said Brian Sullivan, a spokesman for the U.S. Department of Housing and Urban Development. “A good home inspection will protect your investment and your bank’s.”
To find a good home inspector, ask friends for recommendations or search online. The American Society of Home Inspectors has a searchable database of certified home inspectors, available at ashi.org.
In most cases, you’ll want to contact a home inspector after you sign a contract or purchase agreement. Make sure the contract includes a home inspection clause, which makes the pending sale contingent on the inspection — and changes suggested by the inspector. Include language that allows you to walk away from the sale if the inspection identifies costly flaws that are unfixable.
Depending on the size of the house, an inspection likely will cost you $300-$500, with larger properties costing more. Although there are cheaper options available (say, a brother-in-law who works in construction) experts say a home inspection is one place it’s best not to skimp.
A thorough inspection should take three hours or more.
If an inspector tells you he or she will be done in less than an hour, that should be a red flag, said Jack McGraw of ASHI.
“If they say they can do it in 45 minutes, that should tell you,” he said. “Ask for references. It doesn’t hurt to call somebody.”If possible, avoid inspectors that have ties to the seller, or the real estate agents — anyone who stands to profit if the sale goes through.
“You need someone with an unbiased opinion on the property,” McGraw said.
You should also ask a prospective inspector for his or her license number, and a list of items he or she plans to check. At the very least, an inspector should check the roof, the foundation, the electrical system, the plumbing, heating and cooling systems and appliances. A good one will also check for signs of pests, and identify where utilities enter and exit the house.
If possible, try to attend the inspection, so you can see exactly what the inspector is referring to in the subsequent report.
“Be there because it’s your investment, after all,” Sullivan said. “Ask a ton of questions and if there’s an identifiable flaw, make sure it’s on the inspection (report). You may not be crawling into the attic with the inspector, but I’d be very engaged in the process.”
Some inspectors will take pictures as part of their examination. Make sure those are included in the report, to document identified problems.
“I do recommend pictures because pictures always say a thousand words,” McGraw said.
Have reasonable expectations. No house is completely void of problems.“A home inspector is there to educate you,” McGraw said. “You will be educated on the property you’re purchasing.”
Sellers might also consider having their homes inspected in the months before the house is put on the market. A pre-emptive inspection can help identify problems before they become an issue after the purchase agreement has been signed, saving sellers from potentially embarrassing or deal-breaking discoveries.
In most cases, you will receive your report within 24 hours of the inspection, or at least within two days.
Study it carefully.
Final tip: Go with a pro
To obtain a list of inspectors who belong to the non-profit American Society of Home Inspectors, call 800-743-2744.
Source http://www.chicagotribune.com/
No comments:
Post a Comment