Manhattan
Beach Home Inspections
See Also Why
You Need A Home Inspection.
Buying a home
is one of the most important purchases you will make in your lifetime,
so you should be sure that the home you want to buy is in good condition.
A home inspection is an evaluation of a home’s condition by
a trained expert. During a home inspection, a qualified inspector
takes an in-depth and impartial look at the property you plan to
buy. The inspector will:
- Evaluate
the physical condition: the structure, construction and mechanical
systems.
- Identify
items that should be repaired or replaced.
- Estimate
the remaining useful life of the major systems (such as electrical,
plumbing, heating, air conditioning), equipment, structure and
finishes.
After the inspection
is complete, you will receive a written report of the findings from
the home inspector, usually within 1-2 days.
Home Inspections
Are Not Appraisals
A property appraisal
is a document that provides an estimate of a property’s market
value. Lenders require appraisals on properties prior to loan approval
to ensure that the mortgage loan amount is not more than the value
of the property. Appraisals are for lenders; home inspections are
for buyers.
FHA, which is
part of the U.S. Department of Housing and Urban Development (HUD),
requires lenders to obtain appraisals of properties securing FHA-insured
loans. FHA requires appraisals for three reasons:
- To estimate
the market value of the property.
- To make sure
that the property meets FHA minimum property requirements/standards
(health and
- safety).
- To make sure
that the property is marketable.
- The FHA appraisal
process will note property deficiencies that are readily observable
and found not in compliance with HUD’s minimum property requirements/standards
(Handbook 4905.1 REV-1 and Handbook 4910.1). These deficiencies
may not be the same as those items noted in a home inspection
report.
The Bottom
Line: Spending Hundreds May Save Thousands
When you make
a written offer on a home, you should insist that the contract state
that the offer is contingent on a home inspection conducted by a
qualified inspector. You will have to pay for the inspection yourself,
but it could keep you from buying a house that will cost you far
more in repairs down the road. If you are satisfied with the results
of the inspection, then your offer can proceed.
Finding a
Qualified Home Inspector
As the homebuyer,
it is your responsibility to carefully select a qualified inspector
and pay for the inspection.
The following
sources may help you find a qualified home inspector:
- State regulatory
authorities. Some states require licensing of home inspectors.
- Professional
organizations. Professional organizations may require home inspectors
to pass tests and meet minimum qualifications before becoming
a member.
- Phone book
yellow pages. Look under “Building Inspection Service”
or “Home Inspection Service.”
- The Internet.
Search for “Building Inspection Service” or “Home
Inspection Service.”
- Your real
estate agent. Most real estate professionals have a list of home
inspectors they recommend.
