By Laura Foster-Bobroff, Networx
‘Tis the season for home sales and with it comes the demand for home inspections -- an indispensable tool that can help buyers make an informed decision about a property and aid them in negotiating purchase price.
Home inspections offer valuable information about the general condition of a home, outlining areas requiring minor and major repairs and pinpointing deficiencies in building structure. The complex task of assessing a home is more difficult because of the prevalence of myths attached to the process of home inspection. For the real facts on what you can expect here’s a few of the worst misconceptions, along with expert advice from Marvin Goldstein, President of the American Society of Home Inspectors (ASHI):
MYTH: Everything I need to know will be included in the inspection report.
FACT: “This is one of the biggest misunderstandings,” says Goldstein, adding, “you pay good money for an inspection report, but that doesn’t mean you don’t need to go along.”
The report will give you excellent information and will point out weaknesses about smoke detectors, heating systems, etc. but a homeowner can also get more out of an inspection if they tag along. “Inspectors are usually generous in giving homeowners maintenance tips and advice in almost all the areas of a home, and by attending the inspection, it will clarify things in writing, eliminating future misunderstanding. It’s a real learning experience and a good way for a homeowner to get familiar with the property.”
MYTH: An appraisal is just as comprehensive as a home inspection; or, if I have a really good appraisal, it won’t be necessary to have a home inspection.
FACT: Home inspections and home appraisals are NOT the same. As ridiculous as it sounds, some homeowners end up assuming a comprehensive appraisal has covered all the bases. But Goldstein says, “ASHI’s general accountability office conducted a survey and found a vast majority of people – more than 20% - were under the impression they had a house inspection when, in fact, all they had was an appraisal.”
Sometimes they get this impression from real estate agents. Even if your real estate agent recommends a home inspection, Goldstein warns consumers to seek an independent assessment because of the conflict of interest. “Real estate agents, even buyer’s agents, are obligated to cater to the interests of the seller.”
MYTH: A home inspector should be able to tell me everything that can potentially go wrong with the home I’d like to purchase.
FACT: A home inspector is required to report the things that are not functioning properly, especially if they’re unsafe. They will also inform you when certain components and systems are at the end of their service life such as worn-out heating, plumbing or electrical systems.