HOME INSPECTION
STATUTORY LICENSING REQUIREMENTS
There are currently no state or federal licensing requirements for being a home inspector. A home
inspection is an unbiased and objective assessment of the material or physical condition of a home
as it relates to both interior and exterior components and related systems that are accessible by a
home inspector.
HOME INSPECTION SERVICE COMPANIES
There are several non-profit organizations that require their members to adhere to a standard of
practice that generally includes inspection of the foundation, exterior, roofing, attic area, plumbing,
electrical, heating and cooling, fireplace and interior of the building. On the other hand, there are also
several commercial for profit companies that advertise their services as home inspectors.
WHAT TO LOOK FOR
Being regulated by the state, or having a contractor's license or belonging to a professional
organization, does not necessarily equate to professional competence. Any body with experience in
the construction industry or home inspection service can claim to be a home inspector. Be sure to
check the credentials of the home inspecto, ask for referrals and do a back ground check if the
individual even has a business license to operate as a Home Inspector. Education, training, skills,
professional designation and experience are key factors to look for but certainly not limited to verify if
the home inspector has liability insurance (e.g. errors and omission). and the number of home
inspections he/she has performed in the past.
PRE-SALE AND POST SALE HOME INSPECTION
The home inspection may be done either before a buyer sign the contract of purchase or within a
specified contingency period provided in the residential purchase contract. The written home
inspection report must be delivered promptly thereafter before the end of the specified contingency
period. . This will enable the buyer to either to cancel the contract or to impose upon the seller the
burden of correcting the items identified by the inspector. Seller may have no obligation to correct
deficiencies particularly when property is sold “as is” and if the terms are specifically stipulated in the
contract that seller has no obligation to correct any deficiencies.
DO I REALLY NEED ONE
Do you really need a home inspector? Ask yourself if you feel comfortable that you can visually check
the physical condition of the property you contemplate to purchase. Some individuals have a six
sense in identifying potential problems and really know what to look for. Others, just rely on the
expertise of a third party to make the necessary objective assessment.
THE HOME INSPECTION PROCESS
A typical home inspection service is a visual examination of the physical structure and both major
exterior and interior systems of a residential building consisting of one to four dwelling units. A home
inspection is analoguous to a physical exam by a physician; however, it should be clearly understood
that a home inspection is not to be confused with an appraisal, a building code inspection, or a
guarantee of any kind, and/or an insurance policy on the condition of the property.
During an inspection, the home inspector will review the readily accessible exposed portions of the
structure of the home, including the roof, the attic, walls, ceilings, floors, windows, doors, basement,
and foundation as well as the heating/air conditioning systems, interior plumbing and electrical
systems for potential problems.
Home inspections are not solely intended to point out every small problem or any invisible or latent
defect in a home. Most minor or cosmetic flaws, for example, should be apparent to the buyer without
the aid of a professional.
The most common type of home inspection seek to identify material condition, facts or other relative
conditions that may eventually affect the value, desirability, habitability, health and safety and
marketability of the property that is likely to make a significant impact on the buyer's decision to
purchase such property.
While not necessary, it is recommended that the buyer be present for the inspection. This allows the
buyer to observe the inspector, ask questions directly, and obtain a better understanding of the
condition of the home, how its systems work, and how to maintain it. The written report may be easier
to understand if the buyer was present during the entire home inspection process.
At the conclusion of the home inspection, the buyer should be well informed of the condition of the
home. It should be known if there are visible, apparent problems, if repairs need to be made, or
whether or not there are any risks of concealed damage, and whether further investigation is
recommended and/or required.
CONCLUSION
Feeling good and having a peace of mind that somebody is looking out for your interest may be the
way to go. It will cost you between $350.00 and up depending on size of the property you are
purchasing. Likewise, it may not be worth paying it if you’re purchasing a relatively brand new home
with extended warranty. However, most new homes nowadays only have a one year limited warranty
period with a 10 year limited warranty on the integrity of the structure. It’s a choice you need to decide
and a decision you have to make. Considering the cost of buying a new home today, it may be worth it.
Caveat: “Let the Buyer Beware!”
© 2006 Gold Fortune Realty
STATUTORY LICENSING REQUIREMENTS
There are currently no state or federal licensing requirements for being a home inspector. A home
inspection is an unbiased and objective assessment of the material or physical condition of a home
as it relates to both interior and exterior components and related systems that are accessible by a
home inspector.
HOME INSPECTION SERVICE COMPANIES
There are several non-profit organizations that require their members to adhere to a standard of
practice that generally includes inspection of the foundation, exterior, roofing, attic area, plumbing,
electrical, heating and cooling, fireplace and interior of the building. On the other hand, there are also
several commercial for profit companies that advertise their services as home inspectors.
WHAT TO LOOK FOR
Being regulated by the state, or having a contractor's license or belonging to a professional
organization, does not necessarily equate to professional competence. Any body with experience in
the construction industry or home inspection service can claim to be a home inspector. Be sure to
check the credentials of the home inspecto, ask for referrals and do a back ground check if the
individual even has a business license to operate as a Home Inspector. Education, training, skills,
professional designation and experience are key factors to look for but certainly not limited to verify if
the home inspector has liability insurance (e.g. errors and omission). and the number of home
inspections he/she has performed in the past.
PRE-SALE AND POST SALE HOME INSPECTION
The home inspection may be done either before a buyer sign the contract of purchase or within a
specified contingency period provided in the residential purchase contract. The written home
inspection report must be delivered promptly thereafter before the end of the specified contingency
period. . This will enable the buyer to either to cancel the contract or to impose upon the seller the
burden of correcting the items identified by the inspector. Seller may have no obligation to correct
deficiencies particularly when property is sold “as is” and if the terms are specifically stipulated in the
contract that seller has no obligation to correct any deficiencies.
DO I REALLY NEED ONE
Do you really need a home inspector? Ask yourself if you feel comfortable that you can visually check
the physical condition of the property you contemplate to purchase. Some individuals have a six
sense in identifying potential problems and really know what to look for. Others, just rely on the
expertise of a third party to make the necessary objective assessment.
THE HOME INSPECTION PROCESS
A typical home inspection service is a visual examination of the physical structure and both major
exterior and interior systems of a residential building consisting of one to four dwelling units. A home
inspection is analoguous to a physical exam by a physician; however, it should be clearly understood
that a home inspection is not to be confused with an appraisal, a building code inspection, or a
guarantee of any kind, and/or an insurance policy on the condition of the property.
During an inspection, the home inspector will review the readily accessible exposed portions of the
structure of the home, including the roof, the attic, walls, ceilings, floors, windows, doors, basement,
and foundation as well as the heating/air conditioning systems, interior plumbing and electrical
systems for potential problems.
Home inspections are not solely intended to point out every small problem or any invisible or latent
defect in a home. Most minor or cosmetic flaws, for example, should be apparent to the buyer without
the aid of a professional.
The most common type of home inspection seek to identify material condition, facts or other relative
conditions that may eventually affect the value, desirability, habitability, health and safety and
marketability of the property that is likely to make a significant impact on the buyer's decision to
purchase such property.
While not necessary, it is recommended that the buyer be present for the inspection. This allows the
buyer to observe the inspector, ask questions directly, and obtain a better understanding of the
condition of the home, how its systems work, and how to maintain it. The written report may be easier
to understand if the buyer was present during the entire home inspection process.
At the conclusion of the home inspection, the buyer should be well informed of the condition of the
home. It should be known if there are visible, apparent problems, if repairs need to be made, or
whether or not there are any risks of concealed damage, and whether further investigation is
recommended and/or required.
CONCLUSION
Feeling good and having a peace of mind that somebody is looking out for your interest may be the
way to go. It will cost you between $350.00 and up depending on size of the property you are
purchasing. Likewise, it may not be worth paying it if you’re purchasing a relatively brand new home
with extended warranty. However, most new homes nowadays only have a one year limited warranty
period with a 10 year limited warranty on the integrity of the structure. It’s a choice you need to decide
and a decision you have to make. Considering the cost of buying a new home today, it may be worth it.
Caveat: “Let the Buyer Beware!”
© 2006 Gold Fortune Realty
GOLD FORTUNE REALTY
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CONTACT US NOW
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We are totally focused on
our client's needs, and we
work hard to realize their
dreams as if they were
our own.
GOLD FORTUNE REALTY
our client's needs, and we
work hard to realize their
dreams as if they were
our own.
GOLD FORTUNE REALTY
