About Home Inspections
Once you've found the perfect property, submitted a written offer and have successfully negotiated price and terms, one of the next tasks as a home-buyer, is to have a comprehensive inspection performed on the property. Since most Purchase Contracts are contingent upon a clear inspection, the Inspection will need to be completed within the allotted Inspection Period, as outlined in the executed contract.
For the most part, contracts to purchase Fort Lauderdale Homes For Sale and Fort Lauderdale Condos For sale are written on "As-Is Purchase Contract", With A Right To Inspection. The Inspection Contingency allows you to renegotiate the purchase price you've contracted, ask the seller to make repairs or issue a credit, or walk away from the contract and have your deposit returned should you not be satisfied with the inspection report. Once you receive the Inspection Report, your agent can assist you on the best way to proceed.
Choosing An Inspector
Most agents can provide you with a list of Inspectors/ Inspection Companies other home-buyers have used in past transactions. HGTV recommends 5 areas to be concerned with when selecting a home inspector:
- Qualifications: Ask the inspector what the comprehensive Inspection includes and if the age or location warrants specific certifications or specialties. In Florida, mold is very common due to our warm climate and humidity. If you have a medical condition or mold is a concern for you, the inspector can advise you on testing for elevated levels of mold and other air quality concerns. The Inspector can also advise you on obtaining reports for Insurance discount purposes.
- Sample Reports: Ask the Inspector to provide you with a sample inspection report so you can review beforehand and know what to expect. This will help you determine how thoroughly the home or condo will be inspected.
- References: Ask the Inspector for references of past home-buyers who you can talk to.
- Memberships: Not all inspectors are members of national or state association of home inspectors, and membership in one of these organizations should not be the only method to evaluate your selection. Membership in one of these groups typically means continued training and education are provided.
- Errors & Omission Insurance: Ask the inspector what the liability of the inspector or inspection company is once the inspection is completed in case something was missed.
Many inspectors will be fine with you being present at the inspection so they can point out areas of concern and/ or show you where shutoff valves are, etc.. However, keep in mind, the inspector has a time-line to complete the inspection, and cannot stop to answer multiple questions.
The inspector may personally climb on the roof and attic to inspect roof condition or have a licensed roofer on hand. The Inspector should also arrange for the property to be inspected for termites. The job of the inspector is to offer you peace of mind and to protect your investment with the home, including but not limited to: roof condition, plumbing, electrical components, appliances, air conditioning systems, ventilation, windows, foundation and so much more. If there are structural concerns, the inspector may advise contacting a structural engineer.
It's always best to arrange for inspections immediately, so that if additional inspections are necessary, you have the extra time before asking for an extension to the deadline.
Purchasing a home is one of the biggest investments, if not the biggest you will make. It only makes sense to enlist professionals to provide you with as much information possible about your new investment so that you can make the most educated decision about your purchase.
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Disclaimer:The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. John Sabia PA and Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. John Sabia PA and Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.