Home Inspections - Not Just for Buyers - Episode 5

Real Estate Resource Podcast

Home Inspections – Not just for Buyers

In this week’s episode, I talk about home inspections and what you need to know about them. The are not just for buyers and what additional inspections can you get. For more information, checkout Real Estate Resource at http://www.realestateresource.org

Home Inspections

What Buyers and Sellers should know - Liability

• Buyer Inspections
  • How long do they take
  • Why you should attend
  • What to look for
    • Roof Issues
      • Shingles that look like they leak
    • Big electrical items
      • Overloaded electrical panels
      • Exposed wiring with tape.
      • Electrical cords everywhere
    • Plumbing Issues
      • Not enough water flow
      • Leaks
      • Clogged drains
      • Steel drains that need replacement
    • HVAC or Heating and Cooling Issues
      • Cracked heat exchanger is a red flag
      • Boiler that leaks gas
      • Backdrafting water heater
    • Other things
      • Foundations
      • Wet basements
      • Moisture / Mildew smell
      • Buried oil tanks
      • High radon
      • Asbestos
  • All Reasonable to bring up. Things you will likely not be able to arm wrestle with the seller are:
    • Code changes such as GFI, stairway safety, and backflow.
    • Appliances
    • Garage door opener
    • Windows
    • Peeling paint

• Seller Inspections
  • Why would I get one
    • Avoid landmines that will cost you more later.
    • Adds value and creates transparency trust
    • Many cities are now requiring such as Minneapolis and Saint Paul.
    • What to look for.
• Radon Testing
  • Minnesota Radon Awareness Act
    • New section in the disclosure which will increase testing in transactions.
  • $10 for water and gas test kits
• Moisture and Mold tests
  • Mold tests – Home kits
  • Intrusive testing
  • Siding – stucco
• Thermal Testing
  • Leaks in the ceiling
  • Insulation problems
  • Shower leaks
  • Even if the carpet guys covered vents
  • Electrical scan for overheated conductors
  • Radiators in old homes if they are heating properly.
• Follow up with the importance of inspections
  • Get one whether you are the seller or buyer.
• Always remember there are 4 options after a inspection
  • They are:
    • Cancel the PA
    • Negotiate on the Price
    • Ask for repairs
    • Or just do nothing