About Me

Understanding Real Estate

Welcome to my blog! My name is Doreen and I am here to provide all of the information you need to fully understand real estate. When I bought my first home about 7 years ago, I didn't have a clue what I was doing. I found the entire process very confusing. However, all of that changed when I decided to sell my house a few years later. I found a fantastic real estate agent who taught me everything I needed to know. Since that time, I have bought and sold several other properties. I hope you like this blog and that it helps you to secure the home of your dreams.


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Understanding Real Estate

Answering Some Common Questions About Pre-Purchase Building Inspections

by Minnie Simmmons

Before you buy a home or any type of building, you'll want to have it properly inspected. Most lending companies require this inspection before they will close on that loan, and inspections can ensure you know of any repairs or other fixes that will need to be made before moving in, or as soon as possible thereafter. If you're in the market for a new home or any such building, and have never been through this inspection before, note a few common questions you might have about pre-purchase inspections so you know what to expect from an inspector.

Can an inspector tell you how much repairs might cost?

An inspector cannot give you quotes on needed repairs, as this price is up to a contractor, and it will vary from contractor to contractor. However, an inspection report should give you some idea of the scope of work that might need to be done. For example, an inspection won't simply say that a roof needs "repairs," but should offer more detail about the damage the roof has suffered, such as sections of missing shingles, soft spots, torn flashing and the like. In turn, you can use this report to get a general idea of the cost of such repairs by calling different contractors for a quote, using the information provided in the inspection.

Does the inspector check the outside property?

An inspector's job is to check the home or other such building, and this will include checking exterior features, such as any exposed are of the foundation the roof, and exterior electrical outlets. In some cases, the inspection might include a check of a septic tank, walkways and driveways.

However, don't assume that the inspection will include the pool, structures like a pergola or gazebo or even an outside deck. These areas may not be considered as being part of the home, and may not necessarily be inspected. If you want to have any exterior structures or areas inspected before purchasing a home or other building, ask if these are included; if not, you may need to schedule a separate inspection for these areas of the property in particular.

Who sees the report?

If you pay for an inspection, the report is yours to keep. However, a mortgage lender may require this report as a condition to the lending process, so of course they would be allowed a copy of it. It's also good to show it to your realtor, so he or she can note if any needed repairs should affect your offer on the property.