DON’T LEAVE HOME WITHOUT A HOME INSPECTION
We encourage all our clients, customers and visitors to seriously consider the benefits of home inspections. Most everyone has heard of or even experienced the horrors of undiscovered defects in residential properties.
Considering the potential risks, we believe money invested in home inspections is well spent indeed. Hire professionals and look for the best. The home inspection industry has made a great deal of progress over the years in helping insure to the extent possible that buyers are protected from all but the most obscure of latent or inherent defects.
The “Contract of Sale” used by most REALTORS® provides buyers with the opportunity to perform numerous inspections of the physical characteristics of the property. Home inspections in Tulsa are typically arranged by and paid for by the Buyers.
If a potential buyer is dissatisfied with the results of certain inspections, the “contract” allows buyers to exercise a Ten (10) Day Cancellation and Release of Contract.
TYPES OF INSPECTIONS:
Review of the Sellers “Disclosure Statement”
By law, most Sellers of residential property in Oklahoma are required to complete a disclosure or disclaimer statement detailing their knowledge or lack of knowledge about the condition of the property.
Sellers are required to deliver this form to potential Buyers “before” a contract has been accepted. If Sellers are aware of defects, they must be disclosed in this document.
Flood and Water History of the Property
During the 10-day Inspection and Review period, Buyers have the opportunity to satisfy themselves about the flood, storm water runoff and storm sewer backup history of the property. This information may be obtained from the U.S. Corps of Engineers and from the Mayor’s Action Center, 596-2100.
If you are funding your purchase with a conventional or FHA mortgage, your lender will also require a flood certification which will be ordered by the Lender’s Closing Company. Unless the property lies in a flood zone you typically do not see this document until closing.
When calling either of these agencies be prepared to give them the following information. The legal description of the property (lot, block, and addition), the address of the property, your name, phone number, mailing address, and fax number or email address if applicable.
If you do not have the legal description of the piece of land in question, contact the county courthouse at 918-596-5000 and ask for Land Records to gain this information.
When calling the Mayors Action Center, ask them for a flood plain inquiry, so that they know exactly what you need.
The turnaround time for a flood plain inquiry is 5-10 days, and the service is free. If you need it quicker than that, call the Corps of Engineers Flood Plain Management Services, 669-7197 and give them the same information. The fee is $25.00 and in most instances the turnaround time is only a day or two.
Another good way to investigate the water history of a property is to canvass the surrounding neighborhood and talk with residents who have lived in the area the longest.
Buyers can have the roof, it’s structural members, roof decking and cover (shingles, tile, slate) inspected to determine the remaining life expectancy and any existing flaws or defects.
Hazard Insurance Inspections
All lenders require that Homeowners casualty insurance be in place to protect the property against loss. Buyers should satisfy themselves during the first 10 days that such coverage is available at acceptable premium rates and terms.
A range of environmental inspections are available for buyers to determine any potential risks including, but not limited to soil, air, mold, hydrocarbon, chemical, carbon, asbestos, and lead-based paint.
The presence of MOLD seems to be of concern. You will find A Brief Guide to Mold, Moisture, and Your Home and Mold Remediation in Schools on EPA’s Web site: http://www.epa.gov/iaq/pubs/moldresources.html
Psychologically Impacted Property
Sellers are generally not required to make disclosures about so called “psychologically impacted property”, unless requested by buyers in writing. This would include Megan’s Law and determining if any known or registered sex offenders live nearby.
It would also include questions to determine if anyone had ever died a violent death in the property or from the aids virus or similar issues.
The “structural” inspection is most often performed by a professional engineer who is registered in the State of Oklahoma. The engineer performs a visual study of the structure to ascertain the general structural condition of the property and the existence of any structural defect.
Elements typically included in the structural inspection are chimneys, external foundations and footings, interior slab foundations and basements, framing and load bearing components, roof structures and mechanical ducts.
Fixtures and Equipment Inspections
Typically called the “EMP” (electrical, mechanical & plumbing) or working component inspection, this inspection attempts to determine that all fixtures, equipment and systems relating to plumbing (including sewer/septic system and water supply), heating, cooling, electrical, built-in appliances, swimming pool/spa, sprinkler systems, and security systems are in normal working order, ordinary wear and tear excepted.
Termite and Wood Destroying Organisms
This inspection is required by all Lenders but should never be bypassed by anyone, even by cash buyers. Properties are expected to be free and clear of “visible infestation or visible damage” from wood destroying organisms including termites but also “fungi or water damage.
The General Oklahoma Home Inspection
This Inspection is defined by the Standards of Practice that are prescribed in the Oklahoma Home Inspection Law for Licensed Home Inspectors inspecting properties. In many cases, home buyers want more items to be inspected than strictly provided therein. The license requirements for Home Inspectors in Oklahoma does not provide for specialized knowledge as required by experienced buyers. Items included in the Oklahoma Home Inspection are evaluated for by the inspector to see if they are in “Normal Working Order”. There are General Limitations and Exclusions that are shown in the Standards of Practice. The Inspector may (in accordance with the Customers’ circled choices shown on the Inspection Agreement) inspect and report on the proposed Standards of Practice as listed. There are clear limits concerning the items a Licensed Inspector is expected to evaluate and the extent of operation to which an item is inspected. For a more detailed explanation of this inspection we suggest you contact a firm who offers it.
Something Else to Consider
Real estate professionals are not considered experts when evaluating the physical condition of properties and are not usually qualified to conduct Home Inspections. However, many real estate professionals are experts in determining how a property’s value is affected by its location, it’s general condition, it’s floor plan, as well as other non-physical characteristics.
Do not under-estimate the benefit of having an experienced real estate professional advise you on issues which can adversely affect values just as much if not more than physical defects.
Where to Find Inspectors
Tulsa is fortunate to have some outstanding and very professional home inspection individuals and companies. One way to find them is to ask friends and co-workers to recommend someone they have been satisfied with. While we as real estate professionals are not able to recommend anyone, we do provide for your convenience the list below of some home inspectors that we have worked with in the past.
|J & J||743-4050|