Is Your Home Inspection Accurate? When To Get A Second Inspection?

There isn’t much in the way of research to tell us how many home inspections may be inaccurate. With 95% of home sale involving an inspection, there must be at least a few inaccurate home inspection reports produced every day. The thing is, how do you know if your home inspection report is inaccurate? And, just as importantly, what do you do if you have a home inspection report that doesn’t give you a reliable picture of the property?

There are both subtle and obvious signs that your home inspection report isn’t giving you the correct information, but, in order to “read” these signs, a buyer or seller must take an active part in the entire sales process.

This includes:

As a buyer:

• Knowing what to look for when you view a home.
• Researching and interviewing home inspectors before hiring one.
• Being clear about the role of a home inspector, their scope of work, and what you should and should not expect to see in the report.
• Utilizing the expertise of your real estate professional.
• As a seller:
• Having a clear picture of your home’s defects before placing it on the market.
• Knowing precisely what a home inspection report should and should not cover.
• Preparing your home to ensure the inspector can do a thorough job.
• Being available to answer questions, point out details, and provide additional evidence for the home inspector.

Signs The Initial Home Inspection Isn’t Accurate
As a buyer, when you go to view a home, you should be on the lookout for the subtle signs that something could be wrong under the surface. By doing so, you are not only arming yourself with the kind of information that will help you make an informed initial offer on a home, but you are also giving yourself a way of assessing the accuracy of the home inspection report.

How To Tell
Well, imagine that you view a home and see several water stains on the inside of the kitchen cabinet under the sink. This could indicate a current or previous water leak, which, in turn,  could be viewed as a warning sign that there may be other problems under or behind the cabinets.

You submit an offer, which the seller accepts and you then commission a home inspection.

Once you receive the report, you see that there are a handful of minor items listed, but the evidence of the water leak is not included. This could be the first warning sign that a home report isn’t accurate.

If you have made a note of a potential defect and this has not made its way into the report, you should wonder what else has been missed.

Another indicator which should raise your suspicions is if the inspection itself takes much less time than it should. The average 1800 square foot home should take somewhere around three hours to inspect. A home inspector who has sprinted through a property much more quickly should raise warning flags over the accuracy of their final report.

Finally, you may be purchasing a home which has already had an inspection, but the sale has fallen through for some reason, so the property is back on the market. In this case, the seller may be under an obligation to disclose any defects discovered the first time around. If they are not in the home inspection report you commission, chances are you should be suspicious that your home inspection report could be inaccurate.

When Does the Home Inspection Usually Take Place?

Reader question: “We are about to buy our first home, and I have some questions regarding the home inspection process and time frame. When does the home inspection usually take place? Does it happen before or after the purchase agreement is signed? And is there a way to back out if the inspector finds a serious problem?”

The home inspection usually takes place shortly after the seller accepts the buyer’s offer. Once the purchase agreement has been signed by both parties, the house goes into escrow. This is typically when the home inspection takes place, at least in a standard real estate transaction.

And yes, the buyers can back out of the deal if the inspector finds a serious issue. Many buyers include a home inspection contingency within their purchase offers, and for this very reason. It gives them a way to back out without losing their earnest money deposit (if they made one).

When the Home Inspection Takes Place

1. The outline below shows when the home inspection takes place, in relation to other steps in the buying process.
2. The home buyer finds a suitable property and makes an offer to purchase it.
3. The seller accepts the buyer’s offer, perhaps after some back-and-forth negotiations over the price, closing date, seller concessions, etc.
4. The buyers provide a copy of the signed purchase agreement to their mortgage lender (if they are using a home loan purchase the property). If they’re not using a lender and paying cash, this step is moot.
5. The buyers will then hire a home inspector to perform a thorough inspection of the property, with an emphasis on the roof, foundation, electrical system, heating and cooling, and plumbing.
6. The inspector conducts the home inspection and reviews any issues or discrepancies with the buyers. He will also provide a detailed inspection report on paper.
7. The buyers decide which items they want to have corrected, and which items they are okay with. They will send their repair requests the home owner/seller.
8. The seller will agree to fix all, some, or none of the requested items. (They are under no obligation to repair any discrepancies noted by the inspector. This is where market leverage comes into the picture.)
9. Home buyers usually have the opportunity to back out of the deal, if they are unwilling to accept any issues noted in the report. This is why it’s important to include a home inspection contingency within your purchase offer.

So that’s when the home inspection takes place during a regular real estate transaction. It happens when the house is “in escrow” — this is the period of time after the purchase agreement has been signed, and before the final closing date.

As a home buyer, it would be wise for you to have the home inspected sooner rather than later. That way, if the inspector uncovers serious issues you are not comfortable taking on, you can back out and move on to the next suitable property.

Foreclosures, Short Sales and Auctions

Everything mentioned in the previous section pertains to a standard real estate transaction, where the home buyer presents an offer to the homeowner. In such cases, the home inspection usually takes place shortly after the offer has been accepted by the seller. But there are other cases where the inspection might occur earlier, later, or not at all.

Distressed properties are a good example. If you are buying a foreclosure home that is owned by a bank (thus removing the homeowner from the picture entirely), you might not have an opportunity to inspect the property.

The same is true for homes that are sold at a real estate auction. When you bid on a property at an auction, you might not have an opportunity to inspect it beforehand. So the process varies depending on the type of home you are buying, and whom you are buying from.

If you’re planning to purchase a distressed property, I recommend working with a real estate agent who is familiar with the process. He or she can tell you when the home inspection takes place in this kind of scenario.

Selling your home and need an inspection?

If you’re the home seller

It’s in your interests as a seller to provide quick and easy access to everything on that home inspection checklist. Here are some ways you can help:

• Leave keys (for instance, for your electrical panel), and label them where the inspector can find them
• Make sure all pilot lights are on for fireplaces and furnaces, even in summer — so the inspector can check heating and other appliances
• Tidy your basement — There needs to be an unobstructed path down the steps and through to your furnace/HVAC unit/water heater and anything else that needs inspecting
• Tidy your attic same as your basement
• Clean up key areas in your yard so the inspector won’t need a machete to get to your crawl space, drainage access points or septic tank
• If the home is vacant and the utilities have been shut off, have them reconnected

How long does a home inspection take?

The duration of an inspection varies widely, mostly depending on four factors:

• Home size
• Number of defects
• Thoroughness of the inspector
• The helpfulness of the owner when preparing for the inspection

Home inspections starting at $269.99!

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What's the purpose of a home inspection?

Those who are buying a home might be wondering if they should skip a home inspection. They might be thinking they found the home of their dreams, so what's the point of getting it inspected when they already know they want to make a purchase?

A home inspection isn't typically done to make or break a purchase. No home is perfect, so issues are likely to arise. A home inspection is simply done to clue a homebuyer in on any defects or issues with the home that might not have been obvious at first glance. It's not likely that the terms of the home sale will change after an inspection is done, but a buyer will be able to make a more informed decision based on the information provided to them by a home inspection.

A home inspection will point out the imperfections in a home, helping a buyer decide if they can live with these issues, but more importantly, just so they are aware of them. A home inspector can be a great source for those who want to learn about their home. They can teach a buyer how to operate certain systems in the home or provide tips on how to fix something in an inexpensive way. If a buyer is more aware of the aspects of their home purchase, they can better plan for the future, like whether they want to make improvements or not.

A report from FrontDoor.com provides a sample of an inspection report, showing how it will be beneficial to any buyer.

"Electrical outlets at various locations show evidence of improper and/or faulty wiring and/or gross negligence on the part of the contractor who had no personal stake in the safety of future owners or their families," the report said.

While this information likely won't cause a buyer to back down from buying a home, it does make them aware of potential issues with a major system in the home.

Reputable inspectors make a difference
Homebuyers should choose experienced, unbiased inspectors to assess their property. It's also a good idea to be present at the time of inspection.

Reputable home inspectors will go the extra mile to ensure a buyer fully understands the aspects of the analysis. This can make all the difference once a buyer does finally become a homeowner.

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Home Repair Grant Funds Available For Dalton Homeowners

Funding for home repair costs is available for low-income homeowners within the City of Dalton through the City of Dalton’s Minor Home Repair Grant Program (MHRG). The program is part of the city’s Community Development Block Grant program and it is paid for by federal grant funds from the Department of Housing and Urban Development. No city taxpayer funds are used for the program. The deadline for eligible homeowners to apply is Monday, Aug. 19.

The MHRG will provide financial assistance to eligible low-income households in the form of a grant of up to $10,000 to address roofing or gutter repairs. Applications will be reviewed on a first come, first served basis. Applications can be obtained at City Hall at 300 Waugh Street at the CDBG office or online at www.cityofdalton-ga.gov (a link to applications can be found on the home page under “News About Town.”

To be eligible for the grant, applicants must:
· Own and live in the home as their principal residence and hold the warranty deed to the property;

· Be US citizens and possess valid identification;

· Not have a gross family income that exceeds 50% of the City of Dalton’s current median family income as determined by the Department of Housing and Urban Development (see attached table);

·  Be current on mortgage payments;

· Be current on the property’s homeowner’s insurance policy payments;

·  Have all city property taxes as well as all state and federal income taxes paid;

· Have no delinquent liens or judgments on the property.

To be eligible, properties must be located within the city limits of Dalton. Properties must be owner-occupied, single family detached housing units (mixed use, non-residential, or multifamily properties are not eligible). Homes must be built after 1978 to be eligible. Heirs’ property (properties without a legally designated owner with ownership divided among descendants of the deceased owner) are not eligible.

For more information on the program, interested parties can contact the City of Dalton’s CDBG program office at 706 529-2470, by email at cdbg@daltonga.gov, or in person in the Finance Office at City Hall at 300 West Waugh Street.

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5 Reasons to Install a New Roof

To increase your home’s resale value: Did you know that a new roof can boost your home’s resale value by nearly $12,000? It can also attract more buyers, allowing you to sell your home faster, thus reducing the amount you will have to pay in marketing and real estate agent fees.

To improve your home’s appearance: There is no doubt that a new roof immediately improves a home’s aesthetic value. There are many options when it comes to new roofing installation materials, and they now come in a variety of different colors and styles.

To get a better warranty: In the past, a standard warranty was around 15 to 20 years. Today, shingled roofs offer warranties up to 50 years.

To take advantage of new roofing technology: Some shingled roofs now have an Energy Star rating. They are designed to reflect solar heat away from the building, thus reducing cooling costs. Updated roofing will save you money in the long run for this reason among others.

To avoid issues during inspection: Experts recommend that you have a roof service inspect your roof once or twice a year. Even if you do not have it done regularly, your house must pass an inspection before it can be sold. Because it is one of the most important features of a house, a roof in need of repair could stop your home from selling.

On average, homeowners will spend between one and four percent of a home’s value annually on all sorts of restoration and improvements, including roofing repair and maintenance. The cost tends to increase as the house ages. For a $200,000 home, that’s at least $2,000 in repairs each year.

Though a standard roof may cost a homeowner between $1,000 and $4,000 to replace by himself, it is recommended that the work is completed by a professional roof service. Roofers often charge between $2,000 and $85,000. It may be more expensive, but you can rest assured that the installation is performed skillfully and that your new roof will be safe and secure for years to come.

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Gadsden County residents react to the outstanding amount of Hurricane Michael victims still waiting insurance

TALLAHASSEE, Fla. (WCTV) – Local residents react to a recent statistic released about outstanding insurance claims nearly 10 months after Hurricane Michael.

Fifteen percent of insurance claims from Hurricane Michael still outstanding in the Florida panhandle. That's more than 21 thousand people still waiting on their insurance money.

The state insurance commissioner pressing companies to work with property owners to close claims.

Image Source: Ryan Hennessy / WTVY / MGN

The state insurance commissioner calling it a "discouraging statistic".

There are some who've been lucky enough to receive their insurance claims, but many around here didn't even have insurance to begin with and they say that is what's discouraging.

"She actually got trapped in the house because there were three trees that fell on it."

Robin Edenfield says the person who rented one of her homes in Chattahoochee wasn't able to return because the damage from Hurricane Michael was too extensive and expensive.

"if it ain't through a loan, we got to do it ourselves."

Edenfield says 22 pine trees fell on the property of the second home she owns a few houses down.

The house next door had the worst damage. The tree that was on top of it finally being removed just last week.

Edenfield says they were in the process of getting insurance on the three houses before the hurricane hit.

Now, they have to pick up the pieces without insurance. Edenfield also says they have no FEMA funding because she wasn't living in the homes.

"Being property owners, we were denied the money that we need. So, we're having to get out and find people to help clean up and redo homes that have been destroyed. It's just been a mess."

Chattahoochee resident Bob Emberton is surprised to hear 15 percent of the nearly 148-thousand claims from Hurricane Michael are active.

"It makes you wonder who they have their coverage with."

Emberton says he got his insurance claim within a month and has a new roof on his home because of it.

"It makes a lot of difference because we had over $70,000 worth of damage. They've pretty nice to us so far."

Reports say many of the still-active insurance claims were not filed in the months immediately after the storm.

Original Article: https://www.wctv.tv/content/news/Gadsden-County-residents-react-to-the-news-of-15-percent--513368291.html

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