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Seventy seven percent of
all home buyers insisted on a home inspection prior to purchasing
their property, and 97 percent of that group believe the service
was a good value for the price, according to the most recent
study conducted by the American Society of Home Inspectors and
the National Association of Realtors in 2001.
But did these savvy homeowners buy enough information
to protect them at the negotiating table? Ron and Julie Kirchgessner
of Greenwood, Ind., certainly wish they'd phoned a few more
experts.
Their inspector declared the two-story brick home
one of the soundest construction jobs he'd seen, and the home
withstood a tornado in the first six months. But the in-ground
swimming pool was on its last leg and the 17 trees on the property
struggle with diseases. Both troubled areas fall outside ASHI
standards for certification.
So the Kirchgessners sunk nearly $10,000 (unbudgeted)
into their home between November '98 and June '99, money they
believe they could have knocked off the price of the home.
Laws governing mortgage contracts differ, so homeowners
don't always get to waive, say, a termite inspection. But when
the service is elective, weigh your situation against these
factors to avoid "if onlys."
Older homes: If the home is 80 years or older,
ask around for an older-home inspection specialist. These experts
know to search for unique problems such as packed coal under
cement -- a major expense to drill through if you experience
drain problems in the future -- and live gas leaking from abandoned
pipes in the walls.
"A lot of people have money in their pockets,
but they really don't have an idea of what things really cost
to remodel," says John Gaweda, owner of John Gaweda RA
Architectural Services in Brooklyn.
Houses built before 1980 are suspect for septic
system replacement, which is a $20,000 to $40,000 expense. That's
why Michael Kuhn, technical director for national inspection
franchise HouseMaster, advises these home shoppers to budget
between $350 and $450 for an open pit evaluation to dig up the
system, pump it out and evaluate the results.
Swimming pools: Nearly 4.3 million in-ground pools
dot America's neighborhoods, yet Stephen J. Preins, chair of
ASHI National Public Relations Committee and himself an inspector,
has never seen an expert show up at any of the homes he's contracted.
Such news makes Frank Goldstein shudder. As a
board member of the National Spa and Pool Institute and owner
of Chesapeake Aquatic Consultants in Maryland, he knows first-hand
the opportunities for chicanery.
Start with the name of the pool builder, since
local folks know who has a reputation for particular problems
to check for.
Next, effective pool inspections must be done
with the pool operational -- count on a $500 expense to bring
it to this condition and then re-winterize if you purchase between
October and May in a cold climate.
Article continued at http://www.bankrate.com/brm/news/mtg/20010614a.asp?prodtype=mtg
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