Q. WHAT IS A "HOME INSPECTION"?
A home inspection is an objective visual examination of the physical structure and systems of a home - from the roof to the foundation by a "qualified professional".
Q. WHEN DO I HAVE A "HOME INSPECTION"?
A home inspection is scheduled within two weeks after the purchase offer has been signed by both parties and the "Attorney Review" period is closed.
For your protection, the standard purchase offer form used in New Jersey includes an inspection contingency clause, guaranteeing your the right to a professional home inspection.
Q. WHAT DOES A HOME INSPECTION INCLUDE?
The home inspector's report will review the condition of the home's heating system, central air conditioning system (temperature permitting), interior plumbing and electrical systems; the roof, attic, and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement, and visible structure. For a more detailed discussion of the qualifications of a Home Inspector and the items typically inspected, checkout the American Society of Home Inspectors (ASHI) website.
Also, you can learn more about the Home Inspection Process and what a professional home inspection is all about. Learn about some of the common problems discovered during a home inspection.
Q. WHY DO I NEED A HOME INSPECTION?
The purchase of a home is probably the largest single investment you will ever make. You should learn as much as you can about the condition of the property and the need for any major repairs before you buy, so that you can minimize unpleasant surprises and difficulties afterwards.
A home inspection also points out the maintenance that will be necessary to keep your home in good shape.
Q. WHAT WILL IT COST?
Home inspection fees vary depending upon the size of the house/townhouse or condominium (square footage, number of rooms, floors, number of bedrooms, bathrooms, separate heating and air conditioning systems, fireplaces, etc.), unique features of the property, its age, and possible additional services, such as oil tank testing, radon testing, water or pool testing.
The basic home inspection including termite inspection costs typically range from $600 to $1,500. The lower range is for newer condos; the middle portion of the range is for a newer 3 bedroom townhomes and one family homes; and, the upper range is for larger and/or older homes (over 30 years old) or multi-family homes. If a home is particularly large or there are a number of issues of concern (for example, older than 75 years) that lead to more time and effort, a home inspection can run longer than the average 3 hour inspection to 4 or 5 hours, which could lead to additional inspection costs.
CAUTION: Do not let cost be a factor in deciding whether or not to have a home inspection, or in the selection of your home inspector. The knowledge gained from an inspection is well worth the cost, and the lowest-priced inspector is not necessarily a bargain. The inspector's qualifications (including his experience, training, and professional affiliations) should be the most important consideration.
Q. HOW DO I FIND A HOME INSPECTOR?
You can choose any home inspector you would like to use or we can recommend a professionally qualified home inspector to you.
Q. HOW DO I SCHEDULE MY HOME INSPECTION?
You don't. We do.
As your Buyer's Agent, we make the arrangements related to scheduling your home inspection. We need to coordinate you, your home inspector, the Seller, the Seller's Realtor, and ourselves.
We schedule your home inspection once we know the outcome of Attorney Review. Good home inspectors are typically booked several weeks in advance and the standard NJ contract typically allows a 10 to 14 day window for completion of the home inspection.
Home inspections normally start after 9:00 AM or 1:00 PM on a week-day and last anywhere from 3 to 4 hours depending on the size and age of the property you are buying.
Q. DO I HAVE TO BE THERE?
Yes.
You need to be there to observe the home inspector and ask questions directly, as you learn about the condition of your new home, how its systems work, and how to maintain it. You will also find the written report easier to understand once you have seen the property first-hand through the inspector's eyes.
As your Exclusive Buyer's Agent, we will also be at the entire inspection with you.
Q. WHAT IS THE BASIC PROCESS?
(Note: For new construction the entire process below is different and you should consult the builder's contract you signed.)
- The standard New Jersey contract for residential real estate contains an inspection clause (Paragraph 20) which gives you the right to have the property inspected by a "qualified" inspector.
- The contract provides for an "Inspection Time Period" in which any inspections must be completed and written reports furnished to the Seller. Typically, this time period is usually within 10 to 14 days of the completion of Attorney Review.
- You pick the inspector you want to use. We schedule all the parties for the home inspection.
- Your home inspection is held.
- A written report is sent to you, your attorney, and ourselves within 2 to 3 days after the home inspection.
- We go through the report and identify the items identified as issues or defects (not routine maintenance items) by the Home Inspector. This makes it easier for you to go over with us the items you want to ask to be repaired or a credit at Closing. The idea is to put together a clear set of items your attorney can include in a letter to the Seller's Attorney letting the Seller know what you are requesting as a result of your Home Inspection.
- Your attorney then prepares a letter forwarding the full inspection report to the Seller and also indicating specific concerns you have about the results of your home inspection.
- Within a few days, the Seller will get back to his Attorney on what they are willing to do with regard to your Home Inspection items. Depending on their answer, you may need to get one or more estimates of any work required and/or develop a counter proposal to what the Seller is offering. This back and forth normally takes less than a week unless it is unusually complicated.
- The general home inspection timing under the contract:
- If any physical defects or environmental conditions are identified in your Home Inspection report sent to the Seller (within the Inspection Time Period), the Seller has seven (7) calendar days to notify you in writing that he/she will correct or cure any of the defects identified in the inspection. If the Seller does not respond in the 7 days, it is deemed to be a refusal to cure or correct any of the problems identified.
- If the Seller refuses to correct or cure any material defects (or if the property is in a flood hazard area), or if an environmental condition is incurable or of such significance as to unreasonably endanger your health, you have the right to void the contract within the next seven (7) calendar days. If you fail to void the contract within that 7 days, then you have waived your right to cancel the contract based on any of the inspection issues.
- In some cases, because of the defects or environmental issues, both attorneys will extend these time periods to allow for "estimates" to be gotten from contractors or professionals identifying how the defects can be cured.
- Depending on the success of any negotiations with the Seller related to addressing identified inspection defects or environmental conditions, the Seller may either:
- refuse to fix anything;
- agree to repair some of the items identified; and/or
- agree to a dollar credit to you at closing (so you can have any repairs or have remediation work done after Closing).
- If the Seller agrees to correct or cure any of the defects, all repair work must be completed prior to the closing of title. Typically, at Closing, the Seller will provide receipts and/or guarantees/warranties related to any of the work done.
Q . WHAT OTHER INFORMATION DO I NEED?
On the day of the inspection,
- wear comfortable shoes,
- dress for the weather,
- and, bring your checkbook so you can pay your Home Inspector at the end of the home inspection.
Since your home inspection will take at least a couple of hours, plan to spend some of the time outside. We suggest that you take notes (and pictures or video) during the inspection to help you remember information the home inspector gives you that isn't part of the formal report but is good to know about maintaining or updating you new home.
Once you review your inspection report.
If you want more detailed information, you can most likely find it on one of the many websites related to home inspection and home environmental links (related to asbestos, radon, oil tanks, etc.).
Q. WHAT IF THE REPORT REVEALS PROBLEMS?
No house is perfect.
When your home inspector identifies various problems, it doesn't necessarily mean you shouldn't buy the house, only that you should know in advance what to expect.
Also, just because your inspection identifies a problem or potential problem does not mean that the Seller has to fix the problem or even give you a credit at Closing so you can fix the problem.
The responsibilities for fixing a problem uncovered during a home inspection are the subject of negotiations between the two parties - the Seller and the Buyer. You may or may not prevail upon the Seller to handle a particular problem.
As your Exclusive Buyer's Agent, we help you and your Attorney negotiate with the Seller's side related to any inspection or environmental issues.
Typically, it is difficult to convince a Seller to fix minor or cosmetic items (often they specifically exclude these types of items in their Attorney Review letter). Also, a number of the items noted by your home inspector may simply be reasonable normal wear and tear on the property based on its age.
For more information checkout the article: Inspection Report Not a Repair List For The Seller.
Q . WHAT ABOUT GETTING A HOME WARRANTY WHEN I CLOSE?
A home warranty is an annual service contract (think of it as insurance) which helps protect homeowners against the cost of unexpected repairs or replacement on their major systems and appliances that break down due to normal wear and tear.
A home warranty can be a new homeowner's best defense against costly repairs or complete replacement of existing vital household systems and appliances.
For peace of mind in the first year of ownership of an older home, some buyer's purchase a basic home warranty. (Note: If you are buying new construction, the Builder's "10 Year New Home Warranty" program should provide the coverage you need.)
To learn more about home warranties and companies that offer the service, checkout GOOGLE .
Also, be sure to consider PSE&G's WorryFree PROGRAM (or a similar program offered in your new neighborhood.) to cover your heating, cooling, kitchen, laundry, and other home appliances.
You may also want to consider PSE&G's Cool Customer Program (or a similar program offered in your new neighborhood). Under this type program, you can usually get a new state-of-the-art programmable thermostat with a large touch-screen digital display plus a small amount off your electric bill for allowing cycling of your central AC if summer energy demand in your service area is extremely high.