Home Inspection and
All About Home Inspections and Insurance
TIP: SCHEDULE ALL INSPECTIONS IMMEDIATELY, SO IF WE NEED TO NEGOTIATE ANY REPAIRS WE CAN BEFORE THE INSPECTION PERIOD ENDS.
What is a home inspection?
The inspection will uncover any issues in the home that would have otherwise been unknown. You will receive a written report of the inspection. I recommend that you are present for the inspection, so that you may ask the inspector any questions.
What does “inspection period” mean?
During the inspection period, the buyer has the right to hire a professional to inspect the condition of the home. If the results on the inspection report comes back with any issues that need to be addressed, the buyer may ask the seller to cover the costs of these repairs, reduce the sales price, or fix the repairs before closing. If an agreement can not be made, the buyer has the right to back out of the contract and get the escrow deposit back with no consequences.
The home seems fine, do I really need a home inspection?
You may think the home is in perfect shape, but some of the costliest problems are difficult to spot: leaks, termite damage, foundation issues, poor ventilation, faulty wiring, and drippy appliances. A home inspection gives you the chance (before you sign on the dotted line) to have a professional inspector see if there are any problems that need to be addressed, replaced, or fixed.
If you are getting a loan, the lender will require you to obtain home insurance. The home insurance company will typically require that you have certain inspections done. In order to obtain insurance, the inspection reports will need to fit the criteria of the insurance company. This is another reason that you may need to have an inspection done.
Inspection Cheat Sheet
Type of Inspection
The standard home inspector’s report will cover the condition of the home’s heating system; central air conditioning system; interior plumbing and electrical systems; the roof, attic and visible insulations; walls, ceilings, floors, windows and doors; the foundation, basement and structural components.
This is a video scope from the home main sewer cleanout to the main city connection. This is a must do in all homes, even new construction! Repairs can be very costly.
This is a 2 day in home test, measuring an odorless gas that can contain carcinogens. Your Inspector will alert you if your reading is over a concerning 4 units/measure. This is recommended in all homes, especially those with daylight basements, and those in historically high radon areas.
The WDO Inspection is the Wood-Destroying Organism Inspection. Ask your lender if your loan requires any certain inspections such as a WDO inspection.
My Trusted Inspection Companies
LANTERN HOME INSPECTIONS
CRYSTAL LEWIS | 503.908.1933
MARCUS GAYLOR | 541.670.4968
Home Insurance Cheat Sheet
Type of Insurance
Type of Insurance
Type of Insurance
The standard homeowners insurance covers financial protection against loss due to disasters, theft and accident.
$75 – $150
Hazard insurance protects against damage caused by fires, severe storms, hail/sleet, or other natural events.
Protects against damage caused by a flood.
Protects against damage caused by events such
as tornadoes, hurricanes, or gales.
My Trusted Insurance Companies
LAURA ZUNIGA | 503.970.4310
COUNTRY FINANCIAL INSURANCE BROKER
CASCADE SUMMIT INSURANCE
JOE CONNOLLY | 971.285.6978
CASCADE SUMMIT INSURANCE BROKER