Inspections You May Want
Before considering purchasing a property you should ask yourself a number of questions about what condition you will accept the house in.
It's not a very easy decision to decide if a property is suitable for you to live in, or not as the case maybe. The previous (or current) occupiers will know a lot more about the house than you can ever gauge from a walk through or open house.
Regardless of the information that you may receive in the disclosure form that the seller must give you, it maybe worth your time and money to have a number of inspections carried out on the home. There are different types of inspections, each differing considerably from one no other and with various influences on your decision to purchase the property.
Below are some of the inspections that you maybe interested in having carried out on the property that you are interested in:
Home Appraisal
Not an inspection in the classical sense, the appraisal is still a very valuable tool in assessing whether you are paying the right amount for the property that you are buying.
One of the most important criteria in buying property is working out the true value of the property you are interested in. Having an appraisal performed on the property is one way to find out the value of your home. Real estate appraisals offer valuable information for the buyer however the appraisers primary role is to guard the lender.
An appraiser is a professional, qualified to use their opinion, judgment and extensive experience to carryout a detailed examination of a property; leading to an valuation of the home, compared to the current market conditions.
To come to their valuation the appraiser will use a multitude of methods, which include some of the following items:
Home's size and square footage
The size and the square footage of the house are important considerations: generally the bigger the house, the greater its value.
Condition of the home
A home's condition is important; a house that is run down will not produce a large value. The whole house is assessed, including all systems, with all faults being noted down.
Neighborhood environment
The property location is important and has a big effect on the value of the house. Nobody wants to live in bad area of a city. Because of this reason, houses that are in poor neighborhoods have reduced values, when compared to similar houses in better neighborhoods.
Comparable local sales
Comparable sales of houses (ones similar in size and look to the property being appraised), can give an accurate guide to the market value of the property. This can influence the overall price that the appraiser sets.
Relevant historical information
Any renovations or repairs that the property has undergone will influence the appraisers decision on the value of the property.
Sales performance and indices that forecast future value
These performance indicators give an appraiser a clear picture of the market environment.
Location proximity to desirable schools and services
The appraiser will look at the location of your property and make a decision as to how the local schools and transportation affect your property assessment.
General Home Inspection
Most homes that up for sale may need a home inspector to confirm that they are in good condition. A home inspector is a professionally qualified person who is usually licensed to carryout an inspection of a property, on behalf of a buyer, or seller. The majority of qualified housing inspectors act under the guidelines of ASHI (The American Society of Home Inspectors).
There are a lot of reasons as to why somebody would want a home inspection carried out, although an inspection is mainly used to find out if there are any faults in the property, that the seller or buyer should know about before they finalize the transaction.
Very few houses escape a home inspectors inspections without a scratch Typically a house that is inspected by an inspector will require annual repairs and maintenance that costs around 1-2% of the value of the property. Generally however home inspectors find that properties need between 2-8%, of repairs and maintenance costs.
There are a great many faults that can be found during a home inspection. Some of the most common items that are found to need repair include:
Wood panels Roofs and roof venting systems Tub and shower walls, as well as, bathroom floors Furnaces that have not been serviced or cleaned for years Outdated electrical systems and unsafe electrical wiring Gutters, downspouts and improper downspout drains Asbestos containing material, especially in homes built or remodeled prior to 1978
Although an inspector can critic most of an individual p[property, and give a good account of its condition, they may not be at the required standard to comment on other significant areas of a property, and a separate inspection to examine faults is systems such as the water and electricity supplies may be needed.
All inspectors that adhere to the ASHI standards are expected to be impartial and fair; the policy of the ASHI prohibits its members from acting as a referral service, so as to guarantees fairness to their customers.
Pest/termite Inspection
A pest or termite is an inspection that is carried out to ascertain whether there are any problems with a property due to certain pests or damage from termites; as the majority of houses are primarily wood construction.
Pest or termite inspectors also report irregularities with the structure of a property, including wood rot and displacement of the foundations of the property under inspection.
Plumbing Inspection
A house examiner normally carries out plumbing inspection, during a home inspection. The home inspector usually determines the state of plumbing by checking items such as
The water pressure The condition and type of drains and pipes, Signs of any leaks Signs of rust
Although a home inspector can carry out a basic plumbing inspection, if there are major problems then a certified and specialist plumbing inspector will have to carry out a more thorough investigation to find the cause and recommend the appropriate action.
Water Test inspection
Many people are tempted to have a water test to inspect the condition of their water supplies. Whilst this maybe a good idea, you should consider that cities that supply water are required to conduct very extensive and routine water tests, of their own; to ensure the quality of water.
If it is the case that your town or city carries out routine water tests then you might want to think about just relying on the their results, which are usually much more complex than what a private inspector can carry out.
If the property that you are looking at has a private source of water; such as a well, then you should consider private water testing. Water testing labs normally tell you the bacteria content and mineral content of the water that they test. Another a good idea is to test the 'gallons-per-minute' pumping capacity of any well pumps that may be present.
Lead Testing
Lead testing is not a very common check, however if your house is old checks for lead content in the house maybe appropriate. A lead testing professional can perform a lead test in various locations of the property.
Septic/Cesspool Testing:
Septic testing usually involves emptying a septic tank and testing for the overall proper functioning of the system. Inspectors perform a dye test where they drop dye tablets into the system and flush water through it to see if the dye surface; if the dye surfaces it indicates a problem.
Radon test
Radon testing has become popular off late. Certain areas in the US maybe considered to have high levels of radon. you should first find out what the general radon levels/conditions are in the area you are considering buying and them employee a specialist to check the levels in your house.
If you do not want to use a specialist you can buy a radon kit; which is a charcoal-based detector, and collect radon samples yourself. Once you have collected the samples all you have to do is send them away to a lab to be tested. The results are usually made available within 24-48 hours, of them being received by the radon testing lab.
Asbestos inspection
An asbestos test is usually carried out if the property that you are looking at is an older home. If it is an old property then you may want to test for Asbestos in the house.
Electrical test
A general home inspection usually covers essential electrical system inspection that comprises of the following tests:
Amperage check Exposed wires check, Determination of type of wiring, Determination of wiring and outlets adequacy
If an inspector finds during the tests that there is a problem in the electrical system then you should have an inspection carried out by an electrician, as the home inspector may not be qualified to carry out extensive checks on the property.
New Home Inspection
If the house that you are buying is relatively new then you may wan a home inspector to check various items, to check that everything was constructed correctly. These items include:
Construction type Material used in construction Where any new appliances are installed as designed Are all fittings and equipment used as per specification What are the chances of water seepage in the basement Possibility of roof leakage Any new land grading issues
