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A Few Critical Inspections in a Home Purchase Transaction
There are a few inspections that no home sale should be without, except in cases of the most knowledgeable buyers such as property flippers. But even most of the flippers want to see at least a pest inspection. Most consumers desperately need at least 2 inspections: a Pest Control Inspection, and a Whole House Inspection. A few weeks ago, I covered Pest Inspections here. On this blog entry, I will discuss Whole House Inspections.
What is a Whole House Inspection Report?
"Home inspections are usually conducted by a home inspector who has the training and certifications to perform such inspections. The inspector prepares and delivers to the client a written report of findings. A professional home inspection is an examination of the current condition of a house."*
*Source: Wikipedia, the Free Encyclopedia, Home Inspection page, https://en.wikipedia.org/wiki/Home_inspection
From Greg: Last time we discussed termite inspections and the Whole House Inspection is another critical inspection done during an escrow to protect the buyer. The Whole House Inspections did not even exist When I began in real estate. The buyer and I would go check over the home right before closing to find a fix list and then present it to the agent of the seller. The industry has certainly come a long way to do things better. The inspection is now done by an expert. It can cost anywhere from $250 to $400, depending on the inspection firm, and the buyer usually pays for it at the time it is done. It is done early in the escrow, before the contingency lapse time, so a buyer is not obligated to buy the home if something earthshaking is found by the inspector. It also allows time for buyer and seller to negotiate through their agents over what findings on the inspection are valid and unacceptable to the buyer and should be done by the seller.
Items inspected by a home inspector are the electrical, plumbing, roofing, appliances, and many other items too many to list. It is a totally comprehensive inspection and report.
The home inspector usually provides a written report and supporting photos to the buyer, and often it is 20 to 30 or more pages, so it is quite thorough. I always urge buyers I represent to use an inspector right away after buying a home, and the cost of it is a routine buyer's closing cost. An inspector's trained eye can find a serious but hidden major defect. It is just good business to always have the two reports I covered here when you are buying a home.
Neither of the 2 minimum inspections are usually done on new builder homes, as the builder usually has a company representative inspect the home with the buyer at closing and then fix defects found from the builder. Then, the builder is responsible along with the builder's subcontractors for 3 years afterward. The whole house inspection is done on most resale purchases and is an integral part of almost all house transactions to protect the buyer.
____________________________
eXp Realty
916-580-7235
DRE # 00632894
greg.nichols@exprealty.com
A Licensed California Real Estate Broker
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