|
|
Physical Inspection
The Physical Inspection clause in your Purchase Contract allows you the
right to have the property thoroughly inspected. This is usually done
through a General Home Inspection. While Home Inspectors are not currently
required to have a license, most are, or have been, General Contractors. The
inspection and the resulting report provides an overall assessment of the
present condition of the property.
What is Inspected?
The Home Inspection covers items such as exterior siding, paint, flooring,
appliances, water heater, furnace, electrical service, plumbing, and other
visible features of the property. This is a general inspection and will
often call for additional inspections by specific trades, such as roof and
furnace inspections.
Further Inspections
If conditions warrant, the Home Inspector may recommend a Structural
Engineer's Report, a roof inspection or an inspection by electrician,
plumber, or mold/moisture expert. Such a report would identify structural
failures and detail recommended corrections.
Who Pays?
Typically, these inspections are paid for by the Buyer.
Geological Inspection
You may also elect to have a Geological Inspection to educate yourselves as
to the soil conditions at the home you are purchasing. This inspection is
performed by a Geotechnical Engineer and involves not only physically
inspecting the property, but also researching past geological activity in
the area. The primary purpose of a Geological Inspection is to determine the
stability of the ground under and around the home.
Who Pays?
Typically the Buyer pays, but as with other inspections, this is negotiable
according to the contract.
Home Warranty
Home Protection Plans are available for purchase by a Buyer or Seller. Such
plans provide additional protection of certain systems and appliances in
your new home. I can provide you with more information on different
companies and options.
The Inspection Process
When you make an offer on a home, your Purchase Contract will likely contain
provisions allowing you various inspections of the property. The purpose of
these inspections is to educate you as to the physical condition of the
property you are purchasing. While these inspections do not provide
guarantees of the condition of the property, they do provide valuable
information to you as a Buyer. It is important to remember that your
Purchase Contract may provide for withdrawal from the contract if these
reports are unsatisfactory. Inspections should not be considered an open
door to renegotiate the purchase price, or a way to "weasel" out of
a contract.
Structural Pest Control Inspection
Often referred to as a "Termite Report", the Structural Pest Control
Inspection is conducted by a licensed inspector. In addition to actual
termite damage, the Pest Report will indicate any type of wood destroying
organisms that may be present, including Fungi (sometimes called
"dry rot"), which generally results from excessive moisture.
Section 1 Conditions
Most Pest Reports classify conditions as Section 1 or Section 2 items.
Section 1 conditions are those which are "active", or currently causing more
damage to the property.
Section 2 Conditions
Those which are not currently causing damage, but are likely to, if left
unattended. A typical Section 2 item is a plumbing leak where the moisture
has not yet caused fungus decay.
Who Pays?
Your Purchase Contract will specify who is responsible for the cost of the
inspection and making these corrections. Typically, a seller will provide a
pest inspection with their other disclosure documents.
Does this work have to be done?
Most lenders do not require a "clearance". If you are buying the property
without section 1 work being performed, there should be no reference to the
pest control report in the contract.
Prepare
Yourself For The House Buying Process
Obtaining A Mortgage Loan Pre-Approval
Costs Associated With Home Buying
What To Expect When Viewing Homes
Escrow & Title Process
Inspections
Moving day!
Antonette
Burroughs, Realtor®
t
510-604-6255
t Antonette@AntonetteBurroughs.com
|
