IN Pine-Richland Winter 2019 | Page 21

INDUSTRY INSIGHT A REAL ESTATE Home Inspections top the long list of items to do when buying or selling a house is the home inspection. But what is involved? How much does it cost? Why is it done in the first place? It’s important to understand what a home inspection entails and how it affects the sale of your home or the purchase of a new one. The more you know, the less likely you are to be taken by surprise. What is a Home Inspection? A home inspection is a report card on the overall condition of the home. Additionally, although not required, I recommend the following tests: radon, pest, mold and a camera sewer test. A home inspection is NOT a code inspection and therefore does not report on building code compliance or give a “passing” or “failing” grade. It is defined as an objective visual examination of the structure and systems of a home by an impartial, neutral third party not related to the buyer or seller. In layman’s terms, it shows you what’s wrong with the property you want to buy or sell and if it is serious enough to prevent a sale. The three main points of the inspection are to evaluate the physical condition of the home, including structure, construction and mechanical systems, identify items that need to be repaired or replaced, and estimate the remaining useful life of the major systems, equipment, structure, and finishes. Bottom line: a home inspection is to inform the buyer of any readily visible major defects in the mechanical and structural components, and to disclose any significant health or safety issues. What Does a Home Inspection Cover? A home inspection includes a visual examination of the house from top to bottom. There are hundreds of items a home inspection covers, including general structure, flashings, windows, basement, central cooling and heating, chimneys, plumbing and electrical systems, drainage, bathrooms, laundry facilities, foundation, common safety devices, fireplaces and wood stoves, kitchen and kitchen appliances, general interior, attic, insulation, ventilation, roof and exterior. An inspector cannot report on defects that are not visible. For instance, defects hidden behind finished walls, beneath carpeting, behind storage items and in inaccessible areas, SPONSORED CONTENT and even those that have been intentionally concealed. Systems that are seasonally inoperable (air conditioning, furnaces) will not be turned on during the inspection. How Do I Find an Inspector? To hire an inspector, get recommendations from your REALTOR® or from friends and family. When interviewing inspectors, be sure to ask for references and any memberships in professional associations. Find out about the inspector’s professional training, length of time in the business, and experience. It’s a good idea to be present during the inspection for a couple of reasons: first, you can ask the inspector questions during the inspection. Also, the inspector will have the opportunity to point out areas of potential trouble, which will mean more to you if you see it with your own eyes than read it in the inspector’s report later. Many inspectors also will offer maintenance tips as the inspection progresses. Is the Seller Obligated to Make Suggested Repairs? Sellers are not required to make any repairs, replacements or maintenance. However, buyers can use the inspection report to request repairs or replacements or determine whether they want to proceed with the sale. Also, never allow an inspector to contract with you to make repairs he/she has suggested — this is a major conflict of interest, not to mention unethical. However, some inspectors do offer a guarantee or warranty on their service for an additional fee, although it is not a standard practice and not required. How Much Does it Cost and How Long Will it Take? Remember that a thorough, accurate home inspection takes time. The last thing you want to do is try to hurry the inspector along. The inspector’s most important priority is accuracy, and accuracy takes time. The chances of mistakes and missed conditions are much more likely if the inspector rushes. Expect your home inspection to take several hours. Of course, older homes will likely take longer than newer ones. An inspection should cost anywhere from $450-$725 depending on the inspections requested. The cost is definitely worth it and may be one of the most important investments you make when buying or selling a home. “I pride myself on a thorough understanding of my clients’ needs and desires, as well as my ability to make my clients feel as though they are my only client.” LUZ CAMPBELL / Office: 724.776.2900 / Cell: 724.713.1462 / [email protected] © 2019 Coldwell Banker Real Estate Services. All Rights Reserved. Coldwell Banker Real Estate Services fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Operated by a subsidiary of NRT LLC. Coldwell Banker® and the Coldwell Banker logo are registered service marks owned by Coldwell Banker Real Estate LLC. PINE-RICHLAND ❘ WINTER 2019 19