Home Inspections and Real Estate Terms and Vocab - What is a home inspection? What is a Buyer agent? A Seller Agent? Dual Agent?

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Real Estate After Dark with Dave Noyes

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What is a home inspection? 01:26Can a general contractor do a home inspection? 02:00What is covered in a home inspection? 02:50What is a septic inspection? 04:13Should the buyer be at a home inspection? 05:07How do you find a home inspector? 05:45Real Estate Vocab! 08:25Aaahhh.. the home inspection. This is my favorite part of the home buying process. This is usually the buyer’s opportunity to give your house a  physical . Someone who’s buying your house will have it layed out on a table and stripped bare of bias and examined closely by a home inspector. Is it required? Not all the time. Is it a good idea? I think it is the best investment a buyer can make! What about sellers? Should they get a home inspection done? Maybe… we’ll get to that in a minute.  Lets talk about what a home inspection is and isn’t. It is a snap shot of the condition of the house. In North Carolina a home inspector is licensed and trained in the various systems to determine of they are working or not and provide a written report with a summary of what’s right and what’s wrong with the house.  Only a licensed home inspector can perform an inspection for compensation.  It is not a warranty of condition. It doesn’t guarantee the home conforms to building codes. It is not a technically exhaustive evaluation of the home.  Some of my clients have said they want a friend who is a general contractor to help them do the inspection and they might save some money that way. Maybe. That’s true. What if the GC misses something? What if he didn’t inspect the HVAC correctly? Does the general contractor have the right tools for that job? A contractor like that might be called in later, however. Just like a general contractor isn’t an inspector, an inspector might not know everything about construction. Sometimes a problem requires a contractor to examine the problem further. Sometimes we have to have specialists called in if the inspector detects an issue. Here’s what a home inspection usually covers:  Structure which includes Floors, Walls, Roofs, Chimneys, Foundations. Mechanical features: Plumbing, electrical, heating and air conditioning, installed appliances, and other major components of house. Here’s what they do not cover: Pools Spas Detached structures (the she shed) Septic systems Pest and Wood destroying insects.  Sometimes a home inspector will note there are issues in these areas and to call in a specialist.   If the house has a septic system its good to have it inspected. Usually there’s a big truck that comes out that looks like an enormous tick-tack on wheels. They’ll locate the tank and the cover to the tank, which is usually buried. They will pump the tank and have a look inside. Sometimes they walk the drain field.  It is a good idea to have the well inspected if there’s a well. If the property has been sitting for a while I strongly suggest the well inspected for contaminants. Side note about this… Your agent should contact the county health department to obtain the septic permit. Or the seller might even provide.  This will tell you how many bedrooms the tank will accommodate and it might have a rough sketch of the lot and where it is in relation to the house. Should the buyer be at the inspection? I think so. Its an opportunity to learn more about the house you’re about to buy. Sometimes on paper issues can look kind of scary. I good inspector can explain how big or small the problem actually is. The inspection can take 2 or 3 hours or more depending on the size of the house. You’re hearing all of this and you’re probably wondering how do you find a home inspector and who pays? Your real estate broker should be able to find one for you. I’m a full service broker so I usually will make t