Inspections

The following is from the form "For Your Protection Get a Home Inspection"

US Department of Housing and Urban Development (HUD)
Federal Housing Administration
OMB Approval No: 2502-0538
(exp. 06/30/2006)

For Your Protection:

A home inspection gives the buyer more detailed information about the overall condition of the home prior to purchase. In a typical home inspection, a qualified inspector takes an in-depth, unbiased look at your potential new home to:
• evaluate the physical condition: structure, construction, and mechanical systems
• identify items that need to be repaired or replaced
• estimate the remaining useful life of the major systems, equipment, structure, and finishes

An appraisal is different from a home inspection. Appraisals are for lenders; home inspections are for buyers. An appraisal is required for three reasons:
• to estimate the market value of a house
• to make sure that the house meets FHA minimum property standards/requirements
• to make sure that the house is marketable

FHA Does Not Guarantee the Value or Condition of your Potential New Home
If you find problems with your new home after closing, FHA can not give or lend you money for repairs, and FHA can not buy the home back from you.

The United States Environmental Protection Agency and the Surgeon General of the United States have recommended that all houses should be tested for radon. For more information on radon testing, call the National Radon Information Line at 1-800-SOS-Radon (1-800-644-6999). As with a home inspection, if you decide to test for radon, you may do so before signing your contract, or you may do so after signing the contract as long as your contract states the sale of the home depends on your satisfaction with the results of the radon test.

Be an Informed Buyer
It is your responsibility to be an informed buyer. Be sure that what you buy is satisfactory in every respect. You have the right to carefully examine your potential new home with a qualified home inspector. You may arrange to do so before signing your contract, or may do so after signing the contract as long as your contract states that the sale of the home depends on the inspection.

I/we understand the importance of getting an independent

The following are recommended questions to ask a home inspector, from the ASHI, the American Society of Home Inspectors, www.ASHI.com

What does the inspection cover? Make sure the inspection and the inspection report meet all applicable requirements and comply with the ASHI Standards of Practice.

• How long have you been in the profession?
• How many homes have you inspected? Again, ASHI Members are required to have completed at least 250 paid professional home inspections and passed two written exams that test the inspector's knowledge.
• Are you specifically experienced in residential inspection? The answer should be yes. If someone says they have specialized training in something like construction or engineering but not in residential inspection, you may want to move on to the next candidate.
• Does the inspector's company offer to do repairs or improvements based on the inspection? The answer should always be no. This is against the ASHI Code of Ethics because it might cause a conflict of interest.
• How long will the inspection take? The average for a single inspector is two to three hours for a typical single-family house; anything less may not be enough time to do a thorough inspection. Some inspection firms send a team of inspectors and the time frame may be shorter.
• How much will it cost? Costs vary quite a bid depending on the region, size of the house, scope of services and other factors. A typical range might be $300-500, but consider the value of the home inspection in terms of the investment being made.
• Does the inspector prepare a written report? Ask to see samples and determine whether you understand the report.
• Does the inspector encourage the client to attend the inspection? This is a valuable educational opportunity for you to learn about how things work around what could be your house, and the inspector may point out things that don't quite merit a mention in the report but which you should keep an eye on.
• Finally, once you've found an inspector you like, ask him for references, then follow up and contact those clients. Two key questions - whether they discovered any major defects after the close of escrow that the inspector missed, and whether they'd use the inspector again.