Kaer Property Group

29 April 2015

Getting a Home Inspection and Home Appraisal

When you have found your property you’ll need to take additional steps to get closer to completing your new home purchase. Review the guidelines below and we will provide additional advice.

Should I get a Home Inspection?

A home inspection is a very important step when you are buying a new property, especially in the Pacific Northwest. It’s common for buyers to make an offer contingent upon one or more home inspections, which the buyer arranges and pays for with the seller’s consent. Before you buy real estate, you want assurance that your new home will be free of any structural or weather-related issues on top of normal house wear and tear. If the inspection findings are acceptable to you, the closing process can begin on your new home purchase. If the inspection uncovers problems, Kaer Property Group will provide valuable suggestions on how you might work with the seller toward a mutually acceptable resolution.

We are happy to give advice regarding a qualified home inspector based locally in our area.

The Home Inspector Should:

·        Look for any structural, mechanical, and/or other defects in the property.

·        Examine all systems, including heating, air conditioning, electrical wiring, and plumbing.

·        Spend time checking the exterior of the house, including the roof, foundation, and chimney.

·        Check the attic and interior for proper venting, insulation, and electrical outlets.

·        Test all appliances and plumbing fixtures to verify working condition.

·        Check all bathrooms to see if moisture has affected the areas around the tub or shower.

·        Inspect for other items such as insects, termites, and other pests.

What is an Appraisal?

The value of your new home is determined by a professional appraisal which is usually completed at the request of the lender. Property appraisers consider numerous factors such as square footage, construction quality, design, floor plan, amenities, energy efficiency, lot size, topography, view, and landscaping. Other issues appraisers take into account when determining real estate values are neighborhood quality and a property's proximity to transportation, shopping, and schools. Ask us for more information about the appraisal process.

Do I need Homeowners’ Insurance?

You’ll want to protect your new home with insurance. A comprehensive homeowner's insurance policy provides coverage for fire damage, water damage, personal possessions, personal liability, vandalism, theft, and loss of use of the house. If you are financing your home purchase, your lender will require you to buy at least basic hazard insurance, which will fund the cost of rebuilding your home. It is important to contact your insurance professional early in the buying process. They will be able to advise you of their ability to provide coverage as well as to quote the rates and terms of the policy.

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