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Converted from paper version of the Broad Ripple Gazette (v04n15)
The Word on Real Estate - Advice from a Pro: By Clark Giles
posted: Jul. 27, 2007

Home Inspections - A Value Service

If you are thinking of buying a home and wonder what the value of a home inspection would be and what a home inspection really includes, then here's a quick summation. First of all, let me say that a home inspection is a 'necessity' that a buyer should never ignore in purchasing a home and worth every dime spent to at least know what may become a repair in the future. Even if you are buying a property to fix up, unless you are experienced in rehabbing, a home inspection can help you determine repairs that you may have overlooked.
A full home inspection ranges from $200-$275 at various companies. Inspection for wood-destroying insects, termites, radon, well certification, septic certification, lead in water, mold inspection and other specifics are always an additional cost.
Interior components that are typically covered would be the foundation, crawlspace or basement, plumbing system, heating and cooling systems, fireplace, electrical system and usually built-in appliances. An exterior examination of the home would be the roof and exterior walls. The inspector also usually notes the grading of the property and takes pictures of any concerns.
What should you look for in an inspection company? Experience and accreditation! If you are purchasing a home and are being represented by a real estate agent, your purchase agreement should indicate a specific period of time, once your offer is accepted, that you must complete the inspection and ask for a report and request, in writing, indicating what repairs the seller will make at their expense to close the sale. If your Uncle Larry is not a certified home inspector but you choose him to go through the home with you, then his list of qualified repairs may be questioned by the Seller and/or the Seller's agent since you are not providing a report from a certified and licensed inspection company. Inspectors should be state licensed, members of the American Society of Home Inspectors (ASHI), registered with the Office of the Indiana State Chemist to perform termite inspections or the inspection company should sub-contract to someone who is. The termite inspection requires a form that can only be issued by certified inspectors. EPA listed and State licensed inspectors are required to perform radon measurements if you are requesting a radon report. Your inspector should be able to provide you a written, computerized report listing the concerns that require immediate attention and the ones that are considered routine maintenance for the home. Larger inspection companies can even provide an on-site computerized report and may then fax the report to your agent.
The Buyer usually pays for the report at the time of the inspection. It is up to the Buyer to decide whether he wants the Seller to have a complete copy of the inspection report or just the pages that will list concerns. Often a Buyer's agent will not send the entire report because the Seller would be able to provide this report to someone else should your purchase fall through for any reason. This is something you might want to discuss with your real estate agent before he or she writes up the inspection response.
Sellers can also order a home inspection prior to putting his home on the market in order to be proactive in fixing any items that might show up on a report later. Home inspection companies usually offer a discount to a Seller who orders an inspection before putting his home on the market, too.


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