Presented By:

Ken R Fisher & Associates, Inc.

KenFisherRealtors.com

Real Estate: The Business

Lead Generators

Foreclosures Repossessions

Sellers Real Estate

Buyers Real Estate

Mortgages

Appraisals

Inspections

Concierge

Contact Us

Inspections

The biggest mistake you will make in purchasing a home would be to not secure a home inspection on your new or existing home!  The second biggest mistake you could make in purchasing a new or existing home would be to call an inspection company from the yellow pages to inspect your potential new home UNLESS you do three things.  (1) Talk to at least 3 companies for a services description and pricing, (2) Secure references from all three, (3) Actually call and talk to the references to determine that (a) the inspection was done on time, (b) the inspection was thorough and a readable report was prepared, (c) the inspector physically marked each and every potential problem in the house so the Seller and the Seller’s agent can determine what the inspector is talking about, (d) explain to you what building codes are and whether or not potential problems are really problems or  are grandfathered by those building codes, (e) the inspector delivers a readable report to the Seller’s agent within the time frame of the purchase agreement, and (f) determine if problem occurred after closing that the inspector missed.  Otherwise, you could save a lot of your time and effort by just taking your money and tossing it into the wind.

Verifying the License of the Inspector by visiting www.in.gov/pla is a must.  The Indiana Licensing Law was effective July 1, 2005.  Fewer than 250 inspectors statewide had applied for licenses at that time.  According to an article in the Indianapolis Star on July 3, 2005, many inspectors complained that they did not have enough time to apply even though they had two year's notice of the requirement.  These are the inspectors that you may not want to employ.

Participating in a Quality home inspection is very important.  When you select the inspection company, make sure that the company provides you with their track record and most importantly with good references.  Check them out!  Pay particular attention to the older inspection references … it is always good to note how well the results of an inspection stand up over, say, 6 months to a year.  Just like in many businesses, there are people who think that they can read a book, pay a fee and set up a company to make money … they will make money from you … you will get little in return other than a lot of headaches and a possibility of souring your home purchase.  Check out their disclaimers if you want to see some very interesting commentary.  Talking with a real estate consultant can be a benefit here. 

The inspection should cover the roof, siding, windows, structural including settlement cracks and drywall or plaster problems, basements, crawl spaces, electrical, plumbing, heating and cooling components, appliances and also termites, radon gas, mold, water sampling and septic proficiency.  The inspection should consider the age of the home and it's components.

You should accompany the inspector throughout the inspection and ask many questions … there is no such thing as a dumb question in a home inspection ... you are paying a lot of money to ask any question that you want.  Make sure that the inspector itemizes each and every potential problem and thoroughly informs you of the difference between actual problems and maintenance requirements.  If a window thermal seal leaks, it should be marked.  If an electrical receptacle is not grounded properly, it should be marked.  If they don’t mark the problems, you have the wrong inspector.  Let’s face it, if your inspector indicates that there is one ungrounded electric receptacle in a house with, say, 40 receptacles, and doesn’t have the common sense to mark it for identification, you are probably working with the wrong inspector.  If your inspector calls for specific inspections from plumbers, electricians, roofers, heating and cooling people, you also have the wrong inspector … your inspector just does not appear to be properly qualified to do the job at hand.  Also make sure that the inspector notes the difference between code violations and grandfather clauses, this is extremely important.  Some inspectors may not even know what you are talking about.  Again, you have the wrong inspector.  The wrong inspector can cost you your new house!

Ask the inspector to insure that the final inspection report in its' entirety will be delivered to the Buyer and the Seller and their respective agents, if any, promptly and within the time frame of the Purchase Agreement … and, remind them that an illegible or hard to read copy is just not acceptable at all.  A top quality inspector will have the capability to email the report promptly to the appropriate parties and include digital color pictures of the problem areas.  You will then need to negotiate with the Seller to arrive at a mutually satisfactory agreement to resolve the problems presented by the inspection report.  Or, you may walk away.

Keep in mind that the Seller often feels that the Inspection is just one more opportunity for the Buyer to negotiate the price of the home sale.  Also, keep in mind, that many folks believe that the Inspector is often merely justifying his fee.