WHY
A HOME INSPECTION?
 Educate
& protect your buyer
Limit
liability to Agent & seller
Reduce
risks to all other parties
Unbiased
review of property by a trained professional
TYPES OF INSPECTIONS
Typical
Home Resale
New
Construction
Foundation
Framing
Final
Environmental
Radon
Lead
Specific
System – e.g. Roof
Commercial
Insurance,
FHA
Remodeling
Consultation
HOME INSPECTIONS……
are
a standard clause in all real estate contracts…
need to be scheduled
quickly – usually have only ten days to complete…
often result
in an addendum to the sales contract.
WHAT GOES IN THE ADDENDUM?
Defects, such as:
Leaking roof
Wet
basement
Unsafe
conditions:
Electrical
wiring
Unstable
decks
Code
violations
Environmental
concerns
WHAT DOESN’T GO IN
THE ADDENDUM?
Functioning
older equipment
Cosmetic
Items:
Paint
Torn
wallpaper
“Grandfathered”
code items
DEAL KILLERS
Louisiana-Pacific
Siding
Synthetic
Stucco Moisture Problems
Polybutylene
Pipe
IF REPAIRS ARE NEEDED
Three common alternatives
to facilitate a closing:
Reduce
selling price to reflect the cost of the repairs
Obtain a check
from the seller made out to a contractor to cover cost of repairs
Have repairs
made and the house re-inspected before closing
MAKE INSPECTIONS WORK
Agents can add value to
the inspection process by:
Being
knowledgeable about a house’s various systems (handout)
Noting
that the main purpose of the inspection is to uncover major problems
Telling
the buyer that the inspector will give information above and beyond
a list of the house’s defects
Stressing
that a home inspection is a good orientation on maintenance for the
house
Including
defects that need repair in the contract
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