•
The Closing Procedure
Upon Further Inspection
Home Inspection
This is advised when purchasing a new or pre-owned home. Included in the inspection are: Appliances; plumbing systems; heating, cooling and ventilating systems; bath and kitchen fixtures; crawl spaces; basements; garages; roofs; attics and the general condition of the home. Remember, this not a guarantee of the condition of the property, but it does help determine if there are existing problems. Costs vary depending on the size of the home.
Structural Inspection or Engineer's Report
This inspection will help to determine the condition of the structure and foundation, alerting the Buyer to defects, if any, that may need to be corrected. Cost is similar to the Home Inspection. Buyers will first have a home inspection, which will help determine if additional inspections are necessary.
Radon Inspection
Buyers may want to have the property tested for radon - a potentially harmful radioactive gas emitted from the ground. It seeps into a home through foundation cracks or crevices and can be detected by a qualified inspection company.
Termite Inspection
This inspection, purchased by Buyer or Seller is required by lending institutions prior to settlement. It should be done by a licensed termite treatment company.
Lead Paint
If the property you intend to purchase was built before 1978, it may contain lead based paint. Because lead paint can cause health problems for people, especially young children, you will receive from your sales associate an EPA pamphlet (Protect Your Family From Lead in Your Home.) You will also be provided with information from the Seller regarding knowledge of lead-base paint and records or previous tests. You will then be given the opportunity to have the property tested for lead-base paint hazards.
MORE READING...
•
The Closing Procedure