In a foreclosure transaction, or a short sale where the seller has been away from the property for over a
year, sellers do not have to disclose the condition of the property. Keep in mind that the price reflects a
distressed market condition. You will be required to make an as-is offer in either situation. The seller will
make no repairs. You have a right to inspect the property, and amend or withdraw your offer if major
material defects (definition below) are discovered.
Your inspection protects you from hidden (latent) defects, that may be too costly or difficult to repair. A major
repair could result in an expenditure that pushes the cost of your property above comparable values in the
area. This is where my local knowledge can assist you.
year, sellers do not have to disclose the condition of the property. Keep in mind that the price reflects a
distressed market condition. You will be required to make an as-is offer in either situation. The seller will
make no repairs. You have a right to inspect the property, and amend or withdraw your offer if major
material defects (definition below) are discovered.
Your inspection protects you from hidden (latent) defects, that may be too costly or difficult to repair. A major
repair could result in an expenditure that pushes the cost of your property above comparable values in the
area. This is where my local knowledge can assist you.
Outside of foreclosures, the current real estate market in our area remains a strong buyer’s market. Some
buyers may be tempted to take this as a cue to ask for the moon, but that may not contribute to my goal of a
stress-free real estate experience for my clients.
There are two categories of defects when conducting a home inspection, cosmetic and material.
Cosmetic items are those which do not impact the overall structure of the home or your ability to live in it.
Things like peeling paint, old appliances, ripped screens, outdated floor coverings, etc., are considered
cosmetic defects.
I generally advise that cosmetic defects should be taken into account in the price of your offer to purchase
the home, and not included as part of the repair list after the inspection. Bottom line: if the item works, but
is old, I usually do not advise asking the seller to repair or replace it.
Material items include but are not limited to mechanical items such as evidence of wood-destroying
organisms, garage doors, sprinkler systems, electrical and plumbing systems, heating and air systems,
settlement cracking in foundations or walls, inoperable windows, leaking windows, rotting wood trim,
water in basements or foundations, excessive mold, and more. Latent defects (not readily observable)
related to these items are what your home inspector should be looking for.
Before you hire a home inspector, here are some questions you may find helpful to ask:
buyers may be tempted to take this as a cue to ask for the moon, but that may not contribute to my goal of a
stress-free real estate experience for my clients.
There are two categories of defects when conducting a home inspection, cosmetic and material.
Cosmetic items are those which do not impact the overall structure of the home or your ability to live in it.
Things like peeling paint, old appliances, ripped screens, outdated floor coverings, etc., are considered
cosmetic defects.
I generally advise that cosmetic defects should be taken into account in the price of your offer to purchase
the home, and not included as part of the repair list after the inspection. Bottom line: if the item works, but
is old, I usually do not advise asking the seller to repair or replace it.
Material items include but are not limited to mechanical items such as evidence of wood-destroying
organisms, garage doors, sprinkler systems, electrical and plumbing systems, heating and air systems,
settlement cracking in foundations or walls, inoperable windows, leaking windows, rotting wood trim,
water in basements or foundations, excessive mold, and more. Latent defects (not readily observable)
related to these items are what your home inspector should be looking for.
Before you hire a home inspector, here are some questions you may find helpful to ask:
- Do you have a list of references? (actual buyers, not real estate agents!)
- Can you see one of their reports?
- Can their report be emailed and is it computer generated? (important if you are out of town)
- Do you charge by the hour, the square feet, or a flat fee?
- Do you prioritize recommended repairs? (important because sellers usually try to set a dollar limit
on repairs, and you want the most expensive items repaired) - Do they have a license or belong to FABI or ASHI?
- Are they a member of any related trade organization?
- Have they done contracting work or do they have any related experience that lends itself to a home
inspection? - Do they make a recommendation on how to remedy a problem, or do they simply note the problem?
The home inspection is your protection from purchasing a home with major defects (called material
defects) that the seller did not disclose or that were not readily visible (latent), prior to your making an offer
to purchase. As your representative I am happy to provide you with a list of reputable, experienced home
inspectors. To avoid any conflict of interest, I leave it to you to select the home inspector based on price,
references, and services.
defects) that the seller did not disclose or that were not readily visible (latent), prior to your making an offer
to purchase. As your representative I am happy to provide you with a list of reputable, experienced home
inspectors. To avoid any conflict of interest, I leave it to you to select the home inspector based on price,
references, and services.
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Termite: $100-$200
Septic: $150-$300
Home Inspection: $250-$500
4-point: $100-$150
Well water: $75-$125
Septic: $150-$300
Home Inspection: $250-$500
4-point: $100-$150
Well water: $75-$125
Depending on the property and if you need financing, you may be required to have a septic tank
inspection, a termite inspection (if presence of termites or damage is noted in your home inspection),
and a 4-point inspection report for your insurance provider. This can usually be done at the same time
as the home inspection. If the home is not on public water, you should also have the well water tested.
Typical costs for these are outlined in the graphic above right.
inspection, a termite inspection (if presence of termites or damage is noted in your home inspection),
and a 4-point inspection report for your insurance provider. This can usually be done at the same time
as the home inspection. If the home is not on public water, you should also have the well water tested.
Typical costs for these are outlined in the graphic above right.
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