“Home Inspection and Appraisal”
By James Nsien2
http://james-nsien2.com
A home inspection is a non-invasive examination of the condition of a home, often in connection with the sale of that home. This is carried out by a home inspector, who usually has special equipment and training to carry out such inspections. A home inspection report is then issued by the home inspector. Many home inspectors use home inspection software.
Home inspection software is used by home inspectors to facilitate the inspection process and produce professional, easy-to-read reports. For many years, home inspectors relied on hand-written checklists or created custom-made databases to assist them in the creation of home inspection reports. However, times have changed, and home inspectors can now purchase commercial home inspection report programs to facilitate the inspection process and produce professional, easy-to-read reports.
An inspector will check the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, electrical, and many other aspects of buildings looking for improper building practices, those items that require extensive repairs, items that are general maintenance issues, as well as some fire and safety issues. Home owners or home buyers often use a home inspection service before selling or buying their houses. A home inspector conducts a thorough examination of a home to detect any potential systems or components requiring attention. A home owner receives a detailed report of the condition of his/her home so that he/she can plan for needed repairs and upgrades when it is time to make them.
Home Inspection Checklist of Items Not Inspected
A home inspector’s standard practice typically does not include the following, for which a specific license to inspect and identify is required:
• Asbestos
• Radon, Methane, Radiation and Formaldehyde
• Wood-Destroying Organisms
• Mold, Mildew and Fungi
• Rodents
• Lead
General Home Inspection Checklist Items
• Structural Elements.
Construction of walls, ceilings, floors, roof and
foundation.
• Exterior Evaluation.
Wall covering, landscaping, grading, elevation,
drainage, driveways, fences, sidewalks, fascia, trim,
doors, windows, lights and exterior receptacles.
• Roof and Attic.
Framing, ventilation, type of roof construction,
flashing and gutters. It does not include a guarantee
of roof condition nor a roof certification.
• Plumbing.
Identification of pipe materials used for potable, drain,
waste and vent pipes. including condition. Toilets,
showers, sinks, faucets and traps. It does not include
a sewer inspection.
• Systems and Components.
Water heaters, furnaces, air conditioning, duct work,
chimney, fireplace and sprinklers.
• Electrical.
Main panel, circuit breakers, types of wiring,
grounding, exhaust fans, receptacles, ceiling fans and
light fixtures.
• Appliances.
Dishwasher, range and oven, built-in microwaves,
garbage disposal and, yes, even smoke detectors.
• Garage.
Slab, walls, ceiling, vents, entry, firewall, garage door,
openers, lights, receptacles, exterior, windows and
roof.
Home Inspection Checklist Items
Home inspection reports do not describe the condition of every component if it’s in excellent shape, but should note every item that is defective or needing service. The serious problems are:
• Health and safety issues
• Roofs with a short life expectancy
• Furnace / A/C malfunctions
• Foundation deficiencies
• Moisture / drainage issues
In Canada and the United States, a contract to purchase a house will often include a contingency that the contract is not valid until a home inspector has inspected the property (and the contract will usually provide for how problems found in inspection are to be remedied). In many states and provinces, home inspectors are required to be licensed, but in many states the profession is not regulated at all. Typical requirements for obtaining a license are to complete an approved training course and/or to pass an examination selected by the state’s licensing board. Several states and provinces also require inspectors to periodically obtain continuing education credits in order to renew their licenses.
In many provinces and states, the practical standards for home inspectors are those enacted by professional associations such as the American Society of Home Inspectors (ASHI), the International Association of Certified Home Inspectors (InterNACHI) with chapters throughout the United States and Canada, the National Association of Building Inspection Engineers (NABIE), the National Association of Home Inspectors (NAHI), and the Canadian Association of Home and Property Inspectors (CAHPI) with chapters throughout Canada.
Appraisers and Appraisals
• Appraisers are licensed by individual states after
completing coursework and internship hours that
familiarize them with their real estate markets.
• The lender might use an appraiser on its staff, or
contract with an independent appraiser. If you are
allowed to choose the appraiser, and it isn’t someone
the lender is familiar with, the results might be
subject to review before they are accepted.
• The appraiser should be an objective third party,
someone who has no financial or other connection to
any person involved in the transaction.
• The property being appraised is called the subject
property.
• You will probably pay for the appraisal when you apply
for your loan.
Appraisal is what you’ll See on a Residential Appraisal Report
Appraisals are very detailed reports, but here are a few things they include:
• Details about the subject property, along with side-by-
side comparisons of three similar properties.
• An evaluation of the overall real estate market in the
area.
• Statements about issues the appraiser feels are armful
to the property’s value, such as poor access to the
property.
• Notations about seriously flawed characteristics, such
as a crumbling foundation.
• An estimate of the average sales time for the property.
• What type of area the home is in (a development,
stand alone acreage, etc.).
James Nsien2
NCN Real Estate Investments, LLC
http://james-nsien2.com/resources-for-making-money-online/
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Originally posted 2009-05-10 00:48:55. Republished by Blog Post Promoter