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For most people, purchasing a home is the largest investment they will ever make. It is no wonder then that many homebuyers employ professionals to inspect the structural and mechanical systems of the home and report to them on their condition. Sometimes sellers also employ Home Inspectors to alert them to problems with their homes which could arise later in the transaction. But normally Home Inspectors are employed by buyers.
Q: What is a Home Inspection?
A: It is an evaluation which usually takes 2-3 hours of the visible and accessible systems and components using specialized equipment for testing of a building (plumbing system, electrical system, etc.) and is intended to give the client (usually a homebuyer) a better understanding of their condition. It is also important to know what a home inspection is not! It is not an appraisal of the property's value: nor should you expect it to address the exact cost of repairs, but an estimate for the defects will apply. Nor should it be considered a "technically exhaustive" evaluation, but rather an evaluation of the property on the day it is inspected, taking into consideration normal wear and tear. And a thorough computer generated narrative evaluation report (not a checklist) with photos of defects.
Q: Do I need a home inspection when my bank is having the home appraised?
A: Yes! A home appraisal is an independent evaluation of the current market value of a home or property. In general, the purpose of an appraisal is to set the current value of a home so that a lender may determine how much it can loan to the buyer. The appraiser looks at similar properties in the area and the prices at which they were sold to
set the value of the home. A home inspector conducts a thorough evaluation of the homes major systems and structural integrity. Whereas the appraiser is typically working for the bank, the home inspector is working for you. The home inspector identifies items that need replacement or repair prior to closing, which can save you thousands of dollars.
Q: Can anyone perform a home inspection?
A: No. Only people licensed by the New York State Home Inspector Licensure Board are permitted to perform home inspections for compensation. To qualify for licensure, they must satisfy certain education and experience requirements and pass a state licensing examination. Their inspections must be conducted in accordance with the Board's Standards of Practice and Code of Ethics.
Q: Why should I have the home inspected?
A: Most homebuyers lack the knowledge, skill and emotional detachment needed to inspect homes themselves. By using the services of a licensed Home Inspector, they can gain a better understanding of the condition of the property, especially whether any items do not "function as intended" or "adversely affect the habitability of the dwelling" or "warrant futher investigation" by a person who specializes in the item in question.
Q: How do I request a home inspection, and who will pay for it?
A: You can arrange for the home inspection yourself. Unless you otherwise agree, you will be responsible for payment of the home inspection and any subsequent inspections. If the inspection is to be performed after you have signed the purchase contract, be sure to schedule the inspection as soon as possible to allow adequate time for any repairs to be performed.
Call (718) 987-1759 if you have any further questions or if you would like to schedule an inspection. |
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