Specific Areas That Should Be Inspected
When interviewing home inspectors, confirm the following areas are inspected:
* Chimney and fireplace
* Attic and basement
* Crawl space
* Swimming pools
* Smoke detectors and appliances
These are important areas that can be very costly to repair once you have purchased the home. Many homeowners are willing to replace a chimney cap or remove mold from the basement. You should make sure that these areas are inspected prior to the closing. You should also inspect these areas during the final walkthrough.
Chimney and Fireplace
Inspectors should be looking for:
* Missing, broken, or intact chimney caps
* Mortar between brick chimneys is intact
* Metal chimneys are not bent or contain holes and have all screws in place
* Creosote – this is buildup caused from wood burning fireplaces, and is flammable if not removed
Attic, Basement, And Crawl Spaces
Home inspectors should be on the lookout for the following:
* Mold
* Fire damage
* Rotting beams
* Insulation
* Damage from water, and
* Damage from animals and pests
Swimming Pools
When looking at the swimming pool, the inspector should look at the following:
* Swimming pool plumbing, and
* Swimming pool shell
Smoke Detectors and Appliances
* Make sure they work
* No leaks
* Check for broken hoses or connections
* Broken door handles
* Inadequate wiring
Termite Inspection
A termite inspection is a separate inspection that will give you an idea of structural damage to the home that has been caused by termites and other pests. This inspection is required by most lenders before they will guarantee you the money to purchase the home.
Termite inspections are not covered under the standard fee of a home inspection, so you may have to pay for the inspection unless the homeowners are willing to do so.
The inspection should take about an hour and will entail the inspector looking underneath siding, in basements, attics, and on the foundation of the home to see if there are termites present or if there are other insects such as ants, or fungus that are destroying the wood. The inspector will also conduct an inspection inside the home as well. Since termites can live in different weather conditions, you should have the inspection done even if you live in an area that has lower temperatures than other regions.
Termites can be removed using an insecticide that is specially designed to kill termites and their eggs, but the damage left behind can be immense. If the home has been infested for a long time, then it may be beyond repair.
You will then have to discuss a reduction in price, repairs being made to the property, or walking away altogether.
How Homeowners Will React
How the homeowner will react to the results of the home inspection could determine whether you continue pursuing the home or whether you let it go and find another one.
Homeowners have their own agenda when it comes to selling their home. These include:
* Buying another home
* Moving to another state
* Using the money to pay for family medical emergencies
* Retirement, or
* Making money on an investment property
This means that there are varying degrees as to what they are willing to pay for and what they are not willing to pay for. If the homeowner is not in a rush to sell, then they may contest the findings and refuse to repair certain items. If they need to make as much money as possible, they may agree to lower the price a little or make repairs that cost the least on the list.
You will have to make some tough decisions at this point. If the repairs that will be needed on the home are required by your lender, you can:
* Try to find another lender
* Try to get the homeowners to pay for the repairs
* Pay for the repairs yourself, or
* Walk away from the home
Whichever decision you make, you will have to live with the consequences.
Homeowners know they are taking risks when selling older homes. But what about new homes, If your new home does not pass inspection, it is up to the builder to make the necessary repairs. You should make sure this is included in the contract before signing it.
If you are buying a home that homeowners have already moved out of, you may be able to get the repairs paid for without having to be too pushy. If the homeowners are paying another mortgage, they are eager to sell and may opt to pay for the repairs upfront or give you a price reduction. This will depend on the circumstances. There is always a certain amount of luck that goes into buying a home.