Real Estate Purchase contracts usually contain contingency clauses which allow for
the buyer, or others employed by the buyer, to physically inspect the property.
(These inspections are usually paid for by the buyer.)
The purpose of these inspections is to provide the prospective buyer a comprehensive
review of the infrastructure of the subject property.
Which inspections to require and order is usually a matter of observation and knowledge
of what is critical to a particular region or area.
Listed below are the most common types of inspection:
PEST INSPECTION
* To find any active infestations by wood destroying insects, or the presence of any
active molds or fungus.
* To discover the presence of hazardous insects, or wild life in or about the home.
* The inspection report has two sections.
Section I lists items which need immediate attention due to active infestations.
Section II identifys items and conditions which could cause infestation and/or
damage if not corrected.
Lenders usually want this work completed, and a clear Pest Inspection Report issued
by the inspector, prior to funding the buyer’s loan.
PHYSICAL INSPECTION
* This inspection encompasses roof, plumbing, electrical, heating, air conditioning,
and any other accessible areas of the structure.
* A detailed report is written with recommendations for repairs or for further inspections
by licensed specialists.
