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Home Inspections Protect Home Buyers

Reblogger
Real Estate Agent with Allen Tate Realtors Chapel Hill, NC 919-819-8199


I think there is great value in knowing that some real estate advice should be universal! I appreciate this explanation of why home inspections are so valuable from a very experienced colleague in Virginia, Lenn Harley, as she explains well why a home inspection is money well spent for a buyer. I'm grateful she is allowing me to share her thoughts on the subject with my readers.

In NC, we are a property disclosure state so the seller is required to provide written disclosure of their experience with the property you may be considering purchasing. The reality is that any disclosure is only a first step should something go wrong later and no guarantee of future potential problems. Real information about a properties' condition is only available from a professional home inspector.

You and I will talk alot more about this should I represent your best interest in a home purchase!

 

Original content by Lenn Harley 303829;0225082372

HOME INSPECTIONS PROTECT HOME BUYERS - THEY ALSO PROTECT SELLERS AND AGENTS!

Probably the single most important step a home buyer can take as a part of the home purchase process is Home Inspectionthe home inspection. No one can guarantee the condition of a resale home. Therefore, the home buyer should understand that

1. You, a home buyer, cannot rely on the seller for information about the condition of the home they are offering for sale.

2. Buyers can protect themselves with a home inspection.

3. Some states go farther than others in providing protections for home buyers with required seller Property Condition Disclosure, while other states follow the "caveat emptor" rule which requires that the "buyer beware".

PROTECT YOURSELF WITH A HOME INSPECTION

We, as your agent, will do our very best, based on our experience with hundreds of home sold, to make you aware of potential problems with appliances; heating/cooling, interiors, exteriors and things we can see. However, a trained home inspector will not only test the mechanicals and appliances in a house, they will also inspect the structure, materials and condition of the components of a property. Cosmetics are not a part of a home inspection. 

A good home inspector will examine the house from top to bottom. Most inspections in Maryland and Virginia will evaluate the physical condition: structure, construction, and mechanical systems. They will identify items that need to be repaired or replaced. They will also give you an estimate of useful life of the roof, appliances, mechanicals and any other equipment included with the home purchase.

You have negotiated all price, terms and conditions of the home purchase and now you want the home inspected. Good. Let's walk through a home inspection. At this point, a successful home inspection should be a contingency, meaning that, if the home inspection reveals serious defects, the home buyer can void the contract and be refunded their earnest money deposit. If the buyer decides to negotiate with the seller for repairs or compensation for defects, that stage requires that the buyer and seller negotiate repairs or agree to void the contract. So, the home inspection is a very important aspect of buying a home. A home warranty is not a substitute for a home inspection. Most home warranty policies do not protect for pre-existing conditions.

WALK THROUGH A TYPICAL HOME INSPECTION

STRUCTURE
The home inspector will look for structural integrity, They will evaluate the quality of construction and materials used.

EXTERIOR
A thorough inspection of the roof should reveal any past or present leaks. The exterior finishing will be inspected for cracked bricks, loose siding, improper grading and anything else suitable for your purchase.

INTERIOR
The interior will be observed for signs of movement. A good home inspector will look for signs of unusual cracking, separating, shifting in the house.

MECHANICALS
The heating and air conditioning will be tested, temperature permitting, and since this is an expensive appliance, the inspector may recommend servicing of the unit if it appears that the present owners have neglected this important duty.

 

APPLIANCES
All kitchen appliances will be run through their cycle to make sure that they function properly. The refrigerator will be tested for temperature and seals. The range, microwave, disposer will all be run to make sure they know what to do.

PLUMBING
All bathrooms, kitchen, laundry, exterior plumbing will be tested and inspected. This task has become very important since builders have been downgrading building materials for several years to compensate for escalating land costs.

ELECTRICAL
All visible wiring, panel boxes, fixtures, switches, outlets will be tested for operating condition and safety. Often we find home owner repairs will be the most hazardous. If the homeowner did not obtain a permit and have work inspected, it may be defective and dangerous. A good home inspector spends a lot of time looking at electrical components of a house.

WHAT HAPPENS AFTER THE HOME INSPECTION??
If the home inspector finds serious problems such as structural defects, you will have to make a decision as to whether or not to go through with the purchase. If the home inspection shows defects that are repairable or replaceable, your agent will write an addendum requesting the repairs to be made by the seller prior to settlement. The seller may agree, refuse or negotiate a cash settlement to compensate you for the defects found.

You and your agent will decide on the best way to handle any defects found. The important thing is that you are an EMPOWERED HOME BUYER when you know the good AND the not so good about a home.

Your Buyer's Agent may recommend local home inspectors or you can find home inspectors trained and certified by the American Society of Home Inspectors, ASHI.com.

* * * * * * * * * *

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail. Lenn Harley

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SarahGray Lamm is a licensed, full time, residential real estate professional in the Triangle area of North Carolina with over 100,000 hours of experience. She specializes in serving the real estate needs of home sellers, home buyers and investors in Chapel Hill, Carrboro, Durham and Northern Chatham County and is proudly associated with Allen Tate Realtors, the Carolinas #1 independent realty company.

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Disclaimer: Comments and contributions via ActiveRain.com (or other electronic or print media) do not establish an agency relationship with any third party. Blog posts are intended to be informational only. Please be advised that real estate practices vary by region, from state to state and from market to market. The information contained herein does not constitute legal advice. All parties in need of legal, accounting, tax, or real estate guidance are directed to consult with the licensed professional of their choice. Please seek specific guidance from a retained professional in the specific field(s) required to service your interests.

 

Comments (3)

Pat Champion
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs

This is wonderful advice for the buyers to protect themselves with a home inspection-you never know until you have one done. Best advice for the buyer.

Oct 24, 2009 09:53 AM
Claude Cross
Homes By Cross, Inc. - Charlotte, NC
Charlotte NC Homes For Sale

How could you represent a buyer without a home inspection. Baffling. Maybe there is a reason...I just can't think of one

Oct 24, 2009 10:07 AM
Not a real person
San Diego, CA

I know Lenn's post is specific to her area, but your own readers, and those from elsewhere should realize that not all states have the same standards. For example, in most states, "all kitchen appliances" will not be run through they cycles. In some states, all kitchen appliances are specifically excluded. Personal property is always specifically excluded, which means the refrigerator will not be tested for temperature and seals, nor will washers and dryers and countertop microwaves be operated, inspected, or tested. Although I exclude refrigerators, I will specifically include them if they are built in, as many Sub-Zero refrigerators are, and as many condominiums in high-rise towers are.

Check with the home inspectors you are considering hiring to determine what is included and what is excluded. Many home inspectors will include something that would otherwise be excluded for an additional fee to pay for the insurance they need to operate, test, and inspect them.

Nov 05, 2009 08:10 PM