Buyer Resources - Articles

Buying Your Home - Home Inspections & Warranties

Do I need a home inspection?
Yes. It isn't required, but buying a home "as is" is a very risky proposition and First American Real Estate, Inc. will strongly encourage you to have a home inspection. Major repairs on homes can amount to thousands of dollars. Plumbing, electrical and roof problems represent significant and complex systems that are expensive to fix.

Are home inspectors required to get a license?
No, they are not.  Neither the federal government nor the state of Colorado require a license for anyone who wants to be a home inspector.  Children, blind people, or even psychics who claim to be able to "sense" if a home is good or not, can all be home inspectors.  It is best to hire someone who is certified through a legitimate organization such as American Society of Home Inspectors (ASHI) or and International National Association of Certified Home Inspectors (Inter-NACHI).

How do I find a home inspector?
We have several qualified, certified, and experienced home inspectors to refer you to. But please feel free to find your own trusted inspector.  Inspectors are listed in the yellow pages. You can ask for referrals from friends. Ask for their credentials, such as contractor's license or engineering certificate. Also, check out their references.

How do I find a home inspector?
In order to find a home inspector, Dian Hymer, author of "Buying and Selling a Home A Complete Guide," Chronicle Books, San Francisco; 1994, advises looking for someone with demonstrable qualifications. "Ideally, the general inspector you select should be either an engineer, an architect, or a contractor. When possible, hire an inspector who belongs to one of the home inspection trade organizations."

The American Society of Home Inspectors (ASHI) has developed formal inspection guidelines and a professional code of ethics for its members. Membership to ASHI is not automatic; proven field experience and technical knowledge of structures and their various systems and appliances are a prerequisite. One can usually find an inspector by looking in the phone book or by inquiring at a real estate office or sometimes at an area Realtor association. Rates for the service vary greatly. Many inspectors charge about $400, but costs go up with the scope of the inspection.

What's a home inspection?
A home inspection is when a paid professional inspector -- often a contractor or an engineer -- inspects the home, searching for defects or other problems that might plague the owner later on. They usually represent the buyer and or paid by the buyer. The inspection usually takes place after a purchase contract between buyer and seller has been signed.

What's inspected during a home inspection? 
A home inspection may or may not include certain aspects or items, so be sure to clarify with your home inspector on what will be inspected and what will not.  Most home inspections cover the water heater, furnace, central AC (unless it's winter), water pressure, faucets, light fixtures, electrical outlets, and the roof.  However, not all inspectors enter the attic or crawl space.  Most home inspections do not cover an outside irrigation system (automatic sprinklers), hot tubs, radon measurements, or termite/pests inspections.  

What's a home warranty? 
You can purchase a home warranty for the property that covers some of the expense of repairing or replacing certain features of a home.  Coverages are typically $300-$500 and must be renewed annually for coverage to continue.  If something stops working and you have a warranty, you call the warranty company, they dispatch a technician, charge you a fee of $50-$150, and will repair or replace the item up to a certain dollar amount.  For example, a furnace may cost $3,000 to replace and the warranty company may cover er up to $1,800 of that cost.  Each company is different in their coverages and fee structures, so be sure to interview them and know what you are buying.  

First American Real Estate, INC
First American Real Estate, INC
(719) 896-6696
6295 Lehman DR Suite 105 Colorado Springs CO 80918
no name available First American Real Estate, INC