Finding a Home Inspector

Single family home sales are on the rise for the third month in a row, June 2009 sales recording an increase of 11% from the previous month. With the median price of homes down by 12% from last year, coupled with an all time low in mortgage rates, there has never been a better time to buy.

As a homeowner in todays market where stretching the mighty dollar has become the norm, it is important to consider not only the cost of buying a home, but also the cost of owning a home. Nothing could be more financially and emotionally devastating than to move into your new home only to discover that it has become a money pit.

The Right of Inspection clause has been written into real estate contracts just for that reason. It protects buyers by typically allowing 5 to 10 business days after acceptance of the contract to have the home inspected. The prudent buyer will be mindful of this clause and hire a professional home inspector.

It is the professional inspector’s responsibility to provide a prospective buyer a written inspection report detailing the overall condition of the home, including the A/C unit, water heater, plumbing, electrical, roof, framing and foundation. If you are concerned with moisture, mold or mildew contaminants, there are now inspectors that offer environmental services. Once this valuable information is obtained, the cost of the repairs can be factored into the purchase price.

Asking for licensing information is always a good place to start when shopping for an inspector. However, licensing should not be the determining factor. Rather, the decision should also be based on the inspectors experience and professionalism.

When looking for a professional home inspector, consider the following:

• Professional, well trained inspectors can offer assistance to buyers in understanding the condition of the home. Make certain that the person you hire has been properly trained in all areas of home inspection. An informed purchase decision makes for a smart investment.
  
• Ask about insurance coverage, general liability, worker’s compensation, and especially, Errors and Omissions liability (similar to malpractice insurance). Without Errors and Omissions insurance, if your home inspector fails to report significant defect or deficiency in their report, your chance of recovering losses for their oversight is highly unlikely.
  
• As a professional, your home inspector should remain completely impartial and act in your best interest. Keep in mind, if the inspector is a part-time contractor, every home defect found presents an opportunity for him/her to offer repair.
  
• Check for certification by a reputable training institute, such as the National Institute of Building Inspectors (NIBI). To keep up with constant changes in residential construction and real estate, NIBI certified inspectors must re-certify each year.
  

During the home sales transaction, most states allow the buyer to complete a property inspection. If the buyer chooses to close without the benefit of a professional inspection, they may find their dream of owning a home a complete nightmare.