home inspections

Disclosing Items in an Inspection Report

October 10, 2013 by khproperties Leave a Comment

What if the inspection report reveals something bad?

When a buyer puts an offer in on your home, they typically ask for an option period in which to perform a home inspection. When complete, the inspector will hand the buyer an inspection report detailing all of the major systems of the home and what condition they are in. Sometimes, this results in the buyer backing out of the deal based on things they have read in the report. Obviously they found some things they didn’t like in the inspection report – what if those things are items that the you as the seller know nothing about?

As a seller in Texas, you must disclose all known issues with your home via the Seller’s Disclosure Notice. What happens if the buyer that backed out of the deal has their agent forward you (or your real estate agent) a copy of the inspection report? Do you have to disclose items found inside? Do you have to disclose them if you refuse to read the report?

Regardless of whether you read the report or not, because that inspection report has been sent to you (or your agent), you are now responsible for disclosing any material defects within the report. That’s right – even if you don’t read the report! As always, your best advice is to disclose everything. Take note as well, it doesn’t matter if you or your agent received the inspection report (delivery to your agent is considered delivery to you in the state of Texas). All new buyers should be given a copy of your Seller’s Disclosure Notice and the inspection report that was provided by the former buyer. You should also re-do your Seller’s Disclosure Notice as Sections 4 and 7 are now affected by your receipt of an inspection report.

As with most legal matters, ignorance is no excuse, so be sure to always disclose known material defects, no matter how you learned of them.

Online Dating vs. Home Inspections

October 9, 2013 by John Alaniva Leave a Comment

Do your research and get a home inspection.

It may seem like online dating and home buying are about as different as apples and the International Space Station, but in reality they have a lot in common.

No matter which one you’re thinking of pursuing, it’s important to take a look at the object of your affection, whether human or made or brick and stone. Both have their pitfalls, but if you do your research – googling the person you’re dating and asking questions or getting a home inspection and asking questions – the outcome can keep you happy for years to come.

Home: Are there foundation issues?
Date: Does he even have a job?

Home: Do the pictures look too good to be true on Trulia or Zillow?
Date: Did she airbrush her photos?

Home: Is the roof in good shape?
Date: Is he losing his hair?

Home: Are the appliances in good repair?
Date: Is she a good cook?

Home: Are there termites?
Date: Is the ex a pest?

Home: Have the A/C and heating systems been serviced?
Date: How long before she heats up?

Home: Has preventive maintenance been done?
Date: Do they have any kids?

Home: Does the home need painting?
Date: How does she look without make-up?

Home: What is the interest rate?
Date: Can I really afford all these fancy dinners and gifts?

Home: This community seems like good investment.
Date: Do all fifty members of her family live in San Antonio?

Sure, it’s a little tongue-in-cheek, but it’s not all that different. The answer? Doing your research – in the case of buying a house, this means having a home inspection and asking questions. Know the house you’re about to fall in love with before you find out it’s too late.

“We can’t promise you a great date…but we can promise you a great home!”

image courtesy of Kinchan1

Home Inspection: Do I Need One?

July 25, 2012 by khproperties Leave a Comment

The Home Inspection: A Buyer’s Best Friend

The simple answer? Yes. A home inspection is an important step in the home buying process, but one that many homeowners (and sellers) wish they could skip because of the cost – an average home inspection ranges from $300-500 and varies based on size of the home and optional equipment such as pools, type of foundation (pier and beam will cost more), and sprinkler systems. Although everyone is trying to save money when buying a house, the home inspection is a step you should never skip.

A home inspector’s job is simple; inspect the property and write up a report based on their findings. These reports include not only what is wrong with the home and may require attention, but also will note any “deficiencies” in the home. Typically, this will include things that are not up to current building codes. Although the word deficient will often catch the buyer’s attention, some of these things are more noteworthy than repair-worthy (your agent, along with the inspector can help you understand which is which).

An excellent home inspector will take their time during the inspection and point out things as they go along…this can be a great help after you move in and wonder where the water shut off valve is located. By following the inspector as he goes through the steps of the home inspection, you can often gain a sort of “how to” manual for the basic systems of your home.

Once the home inspection report is delivered to you and your agent, if you have elected for an option period in the contract, you can now discuss potential repair requests you will make of the seller. Remember, the seller doesn’t have to make the repairs, but you also (with the option period in place) have the right to terminate the contract and move on. It becomes a negotiation between the two parties – so determine what matters to you most and be prepared for some give and take (and know when to stand your ground as well).

Building a New Home?

One of the biggest mistakes we see being made by buyers of new homes is their refusal to purchase a home inspection from a licensed inspector who is not affiliated with the builder. Builders do inspections on their homes as they build them and will often talk about their ten or more step inspection process. However, these inspectors are brought in by the builder. Who do you trust more? Someone on the builder’s payroll or an independent third party that works for you?

When getting a home inspection for a new home, you should opt for a phased inspection as well. These inspections cost somewhat more, but this allows you to inspect the property as it’s being built and at various stages of the process. This allows you a bit more insight into the home as you can inspect things like plumbing, slab, and electric before walls and floors go in (which often cover up any potential problems)..

They may cost extra money, but home inspections are one of the smartest investments in your home-to-be that you can make. While you’re at it, throw in a wood destroying insect inspection (also called a termite inspection) to check for active infestations as well as conditions conducive to infestation. A few dollars extra will give you peace of mind (and many banks will require them if you’re getting a loan).

image courtesy of justinbaeder