Wednesday, June 27, 2012

10 Things You Should Consider When Making a Home Inspection (BEFORE You Buy)

With rising prices and multiple offers, homebuyers may feel pressured to make hasty inspections when considering a home. That is, if they make one at all.

A pre-offer inspection should help you structure your offer and, perhaps indicate things that should be further inspected during your due diligence period. When Florida was a buyer’s market, just half a year ago, many times a potential buyer would offer a very attractive high price and then drop it during the inspection. This is annoying to sellers and realtors, and a waste of time. A buyer would drop the price based on something that should have been evident during the pre-offer inspection, like a missing appliance or the necessity to paint the house. If you are in an urgent buy situation, it is wiser to assume that all repairs are needed before offering. If there is time, I would suggest a professional inspection. If there is not time for an inspection at all, either expect the worst or don’t buy at all.

During your due diligence period, there are ten things you should inspect.

  1. Defective Drywall (Chinese Drywall). Chinese drywall is bad news. It is most common in houses built or remodeled between 2003 and 2007, and exposure can cause health risks for both your family and any pets in the home. Although there is no definite test for defective drywall, blackened air conditioner coils or copper wires, rotten egg, sulfur-like or acidic smell, and tarnished silverware or silver jewelry are all indicators of defective drywall.
  2. Roof. In homes that are over 15 years old or with low pitch roofs, a roof inspection is essential. Many insurance companies will require a roof certification in order to give you homeowner’s insurance. In addition, a small leak can add up to a big cost in a short amount of time.
  3. Plumbing. Look for leaks under the sinks, pitting on the chrome of fixtures, pinhole leaks, roots in the soil line, and corroded copper from bad water are all problems that can grow with time. Check the age of the water heater and for corrosion on the valves. 
  4. Structure and Foundation. Have the “bones” of the home, the foundation, vents, windows, doors and gutters inspected. Dry rot and wood destroying organisms are prominent in Florida.
  5. Electric. Look out for any non-licensed work or additions that were done to the system. 
  6. Elevation and Grade. Especially in Florida, we get a lot of rainfall and are prone to flooding. Make sure the home is properly elevated and graded to handle heavy rainfall. 
  7. Air Conditioning and Heating. Check the model and serial number of the heater or air conditioner and check the manufacturer’s website to determine the age. Anything over ten years old should probably be replaced. 
  8. Insulation. In the walls, in the attic, and under any home that is elevated on wood or concrete. 
  9. Appliances. Like air conditioning, check the model and serial number and check online to determine age.
  10. Maintenance. A clean presentable home that is well cared for.

You can also check the county for building permits on the property you are considering—these will tell you if there has been recent work done on the property that you should be aware of, or to see if there has been work with no permit pulled. 

When in doubt, always hire a professional.

No comments:

Post a Comment