Showing posts with label home inspection. Show all posts
Showing posts with label home inspection. Show all posts
Friday, December 7, 2012
Slate Roofing
A caller several weeks ago inquired about inspecting a home with a slate roof. The caller had been told by previous home inspectors that she had contacted that a separate inspection was necessary, and that it needed to be performed by a specialist in slate roofing. She evidently had bought this suggestion hook, line, and sinker.
The truth is, any competent home inspector should be able to inspect a slate roof. In this particular circumstance, the roof appeared to be an artificial, or manufactured, slate roof. The roof shingles likely contained asbestos, based on the age and appearance of the shingles, and the rear of the house had been re-roofed using laminated asphalt shingles.
Slate roofs are not difficult to inspect if the home inspector is competent and knowledgeable regarding slate and manufactured slate roofs. The inspection process itself is very similar to the inspection of any other type of roof; investigating for signs of damage or leaks, looking for missing or loose shingles, investigating for signs of improper installation or alteration, and so forth.
If a home inspector is properly trained, there should be no need for an additional roof inspection during the home inspection process. The roof should be inspected as part of any competent home inspection. Substantive training in home inspection will include slate roofing, so a good home inspector will be able to inspect and report on the condition of a typical slate roof.
Saturday, September 29, 2012
Renegotiation A Problem?
In a recent Market Watch article (The Wall Street Journal), writer AnnaMaria Andriotis discusses the real estate recovery. According to the article, which quotes the National Association of Realtors (NAR), 36% of real estate agents report "some kind of problem" between the buy-sell agreement and closing. One item mentioned is "renegotiations of the sale terms."
Renegotiations typically result from new information revealed during the appraisal or home inspection. The article specifically states "appraisals have been derailing home sales in cases when the appraised value of the home comes in lower than the purchase price the buyer and seller had agreed to." What Andriotis fails to mention is that this often occurs when the appraiser is actually doing their job, and refusing to inflate the value of a property as was often done in the past, and was a primary cause of the real estate collapse. The same may be true in the case of home inspections, where the home inspector properly and honestly reports the true condition of the property.
What Andriotis fails to address is the real issue, that the majority of properties on the market at present are in far worse condition than sellers or real estate agents are willing to admit, and when the actual value or condition is revealed to the buyer, buyers are now more willing to insist on renegotiating the buy-sell agreement or walk away. As is said in negotiations, no deal is better than a bad deal. Buyers are waking up to that reality. The twist of the article seems to be that this is a bad thing.
The truth of the matter is that it is a good thing when a buyer attends to the details, which include researching proper permits for work done on the property, having an appraisal done by an honest appraiser, and having a thorough home inspection performed by a competent and professional home inspector who answers only to the buyer. This is a reminder that, even in this day of high technology and open information, the warning "buyer beware" still holds true. Honestly, it is more true today than it was in the past.
If you are purchasing a home, pay attention to the details. It may save you more money than you could imagine. Surround yourself with professionals with integrity who will focus on your interests only. And still, beware.
Renegotiations typically result from new information revealed during the appraisal or home inspection. The article specifically states "appraisals have been derailing home sales in cases when the appraised value of the home comes in lower than the purchase price the buyer and seller had agreed to." What Andriotis fails to mention is that this often occurs when the appraiser is actually doing their job, and refusing to inflate the value of a property as was often done in the past, and was a primary cause of the real estate collapse. The same may be true in the case of home inspections, where the home inspector properly and honestly reports the true condition of the property.
What Andriotis fails to address is the real issue, that the majority of properties on the market at present are in far worse condition than sellers or real estate agents are willing to admit, and when the actual value or condition is revealed to the buyer, buyers are now more willing to insist on renegotiating the buy-sell agreement or walk away. As is said in negotiations, no deal is better than a bad deal. Buyers are waking up to that reality. The twist of the article seems to be that this is a bad thing.
The truth of the matter is that it is a good thing when a buyer attends to the details, which include researching proper permits for work done on the property, having an appraisal done by an honest appraiser, and having a thorough home inspection performed by a competent and professional home inspector who answers only to the buyer. This is a reminder that, even in this day of high technology and open information, the warning "buyer beware" still holds true. Honestly, it is more true today than it was in the past.
If you are purchasing a home, pay attention to the details. It may save you more money than you could imagine. Surround yourself with professionals with integrity who will focus on your interests only. And still, beware.
Sunday, November 6, 2011
Who Are The Stakeholders?
Many home inspection firms are operated as sole-proprietorships or owner-operated limited liability companies. The differences are minimal, but the point is that home inspection firms are typically small companies. So this narrows down who the stakeholders are relevant to any decision made by a home inspection firm. The stakeholders become the home inspection firm, and stockholders or investors, and the clients that the firm serves.
Over the years, many professional home inspection associations have suggested that stakeholders include the seller of a property, the real estate agents involved, and the mortgage broker in addition to the home inspection firm, investors, and the firm's clients. This is improper and wrong. Real estate agents have no interest in the home inspection firm, therefore they are not a stakeholder. Likewise with the seller of a property, or a mortgage broker. While these parties may be indirectly impacted by decisions made by the home inspection firm, they have no legal or financial interest in the firm. They should not be considered stakeholders.
Home buyers should be wary of home inspection firms that consider parties that do not have a financial or legal interest in the firm as stakeholders. This will more often than not muddy the agency dilemma faced by the home inspection firm, and could create a scenario where the client's interests are not a priority. As the saying goes, buyer beware.
Over the years, many professional home inspection associations have suggested that stakeholders include the seller of a property, the real estate agents involved, and the mortgage broker in addition to the home inspection firm, investors, and the firm's clients. This is improper and wrong. Real estate agents have no interest in the home inspection firm, therefore they are not a stakeholder. Likewise with the seller of a property, or a mortgage broker. While these parties may be indirectly impacted by decisions made by the home inspection firm, they have no legal or financial interest in the firm. They should not be considered stakeholders.
Home buyers should be wary of home inspection firms that consider parties that do not have a financial or legal interest in the firm as stakeholders. This will more often than not muddy the agency dilemma faced by the home inspection firm, and could create a scenario where the client's interests are not a priority. As the saying goes, buyer beware.
Saturday, November 6, 2010
Urgent News on CSST
The Subrogation and Recovery Law Blog has recently posted a report that a jury in Pennsylvania has found that corrugated stainless steel tubing, or CSST, is a defective product. The case arose from a claim that CSST does not properly disapate the energy from a direct or indirect lighting strike, resulting in serious fire fed by pressurized fuel gas. If you have CSST in your house, you should immediately contact the manufacturer to ask if they are considering replacement. You should also contact reputable licensed contractors for estimates on replacing any CSST in your home. For more information, visit http://www.subrogationrecoverylawblog.com/2010/10/articles/products-liability/csst-1/jury-rules-that-csst-is-a-defective-product-in-landmark-case/
Sunday, May 10, 2009
Licensing
Is it time to license home inspectors in Michigan? Some think so, and legislation has been introduced in both houses of the Michigan Legislature. The current bills are fairly well written, and appear to be the best that have been introduced to date. If you favor this legislation, contact your Representative or Senator in Lansing, and ask them to support this legislation.
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