HOME INSPECTIONS ARE A WISE INVESTMENT Prepared By Gloria Brda The pre-purchase home inspection is an accepted part of a real estate transaction. Home inspections are used for your security and peace of mind. Whether you are buying or selling a home, knowing its condition guarantees you a fair, safe, and smooth transaction. Home inspections are thorough in-depth visual examinations of the structure and operating components of the home performed by a trained professional. They are an independent source hired by the buyer to provide an objective analysis of your future home. The cost of an inspection, which averages $150.00 to $250.00, makes economic sense when buying a resale home or even new home. They are becoming a major tool of prospective homebuyers to determine the soundness of their future investment. A detailed inspection provides a complete analysis of the house-what is in good working order, what needs immediate repair, and what will need attention over the next few years. The inspection should be an educating experience to learn about the interior and exterior mechanics of the home you are interested in owning. A written report will reveal the home's quality and condition. The inspection time averages 2-3 hours for single-family homes, and 1-2 hours for town homes and condos. The buyer accompanies the tour, as well as the selling agent. The inspector will then give an objective opinion of the home and it's integrity. The evaluation covers the homesite itself, foundation, sidewalks, driveway, roof, gutters, downspouts, siding, windows, doors, basement, attic, floors, interior plaster and drywall, insulation, heating and air conditioning systems, ventilation, electrical, plumbing, age and condition of appliances, detection of infestation of termites and carpenter ants, brick and concrete, and water damage. The inspector will also comment on home preservation tips and how to remedy minor deficiencies. To aid in the analysis, the inspector uses such devices as a combustible gas sniffer, moisture meter, furnace tester, voltage detectors, mirrors, levels, ladders, and even binoculars to see parts of the roof undetected by a ladder. The inspection, which is not required by law, is usually performed after a contract is signed with the seller. A clause in the standard contract states that the contract is contingent upon a satisfactory home inspection done by the buyer's inspector at their expense. If defects are found, the seller can give a credit to the buyer, the seller can fix the repair, or any other item can be negotiated and discussed. A code violation may be detected. The inspector may give estimates on the repairs to be done. An inspection is not a warranty or a guarantee on the house. Most inspectors have a disclaimer they ask buyers to sign in order to limit their liability. Here are some suggestions to follow when selecting a home inspection company: Ask your sales agent to recommend several inspectors. Ask to have a written report upon the completion of the tour. Ask to join the inspection. The best inspectors not only permit this-they encourage it. You can learn how the house works including maintenance tips. Ask if the home inspector is a member of the American Society of Home Inspectors (ASHI), a non-for profit organization founded to establish inspection and reporting guidelines and to create a code of ethics. The ASHI address is 3299 K St., NW, Washington, DC. 20007. Ask the inspector how many inspections they have performed. Enjoy the time in your future home, and good luck! [ View the Anatomy of a Home ] [ Back to Gloria's Library of Helpful Articles ] Gloria Brda, Realtor Associate® RE/MAX CENTER 100 N. Atkinson Road, Suite 106 Grayslake, Illinois 60030 Toll Free: 800.257.REMAX Office: 847.223.7878 x3021 Fax: 847.223.1703 www.gloriabrda.com Real Estate in Northern Illinois ©1999-2007 Gloria Brda