Advice and Insights on Home Inspections: Cape Coral, Fort Myers, Lehigh Acres +

There are two main contingencies that are found on all Florida Housing Sales contract.

  • Mortgage ( if not paying by cash)
  • Home Inspection (should be done regardless of means of purchase!)

 The home inspection is one that is concluded the quickest and coinciding with the buyer’s starting their mortgage application to obtain their mortgage loan. Although, the time allocated for the home inspection is a negotiable item, banks and most sellers would allow just 10 days from the day both Seller and buyer finalized their agreement, ratified, the effective date, is when the last party signs the agreement and the document is delivered to the other party, which begins the starting period when the clocks begins to tick toward closing on the house on an agreed date. The buyer would also submit their agreed to down payment to an escrow account that is most likely held by a Title Company that is doing the closing, 

The Closing process is completed when the buyer finally receives the key to the home just brought, after all the paper work is completed, and everyone gets paid.

What is important, are two main issues with the home inspection. A general overview as to what to expect when entering into an “AS IS” contract as oppose to the “Resale” Contract, which are rarely seen.  

The housing inspection should be done before the mortgage lenders sends the appraiser to the house to determine value which will determine the amount of money the lender will lend the buyer.  The Buyer would not want to pay for this service ($150 to $ 300), if the house does not meet their tolerance and expectation, and decides not to purchase the house.

  1. “AS IS” contract  
  • With the banks, is just that, AS IS!…“No if’s, and’s or but’s”. The bank most likely never seen the   property and frankly does not care. It is all dollars and cents with banks, the bottom line and bookkeeping. The repairs needed were adjusted in the price they offer the property at. Something you may want to consider and risk when placing your initial offer, the necessary adjusted repairs, working on the advice of the Realtor.
  • Buying from the seller directly opens doors for possible more negotiations and adjustments in pricing and repairs. The seller knows the condition of the property best, does want to sell his house, but not give it away. Again, the realtor the buyer is working with should handle this and work with the buyer in making reasonable expectations requests short of demands that the seller may be willing to make the appropriate adjustments, to save the deal, and not kill the deal on a house the buyer likes. The best deal is when both sides win, buyer and seller.   

Remember, the buyer has the power to walk away if not satisfied. The money in escrow will be refunded in full. Also remember; time is of essence. The buyer needs to make their conclusion within the allocated time agree to and before the property is appraised, or lose the money and/or having to agree to the conditions the house according to contract and missing the dead line. The time can be extended if mutually agreed upon between buyer and seller, and the situation cause for it.

The buyer should work with their realtor and most likely they would, like I, give the buyer 3 different home inspectors to choose from, that I/they would use for my/their family members. It is the buyer responsibility to negotiate with the home inspector. Of cost the buyer can hire their own home inspector if they want. Your Realtors does not receive anything in return for their recommendations other than the satisfaction he/she has given you good contacts, but ultimately it is the buyer choice and responsibility. It can all be done in less than 10 days with time to spare, depending on when the buyer move to the hiring. Home inspectors are very aware of the time factor involve and will respond within 48 hours, and send the report within 12 to 24 hours after completing the inspection. Again, home inspectors are aware of the situation. If not, do not hire them.   

As far as cost, it is determined mostly by type of property: single family home / condo, and square footage; normally, including the item listed below, approximately three to six hundred dollars for single family homes, less for condos.        

The consider additional cost would be item such as termite/bug inspection, mold/random gas, others, and if the home inspector recommends a 4 point inspection, wind migration, that  will help cut the costs of the home insurance. This usually amounts to additional paper work for the inspector, since the areas of concerns are covered in the original inspection. It is well worth the buyers additional cost if the home inspector says it can be issued.  

The home inspection and the inspector’s report will review the condition of the home’s heating system, plumbing, electrical system and central air conditioning system as well as the roof, attic, visible insulation, walls, ceilings, floors, windows, doors, foundation, landscaping, visible structure, may consider pools, fencing, boat lifts, sea walls, fireplaces and other items. I recommend visiting the home inspector web sites of the inspector they are considering, and see what their guidelines and cost are before calling. This way the buyer can be an educated consumer and have a good discussion. The buyer should also ask if they can be present during the inspection to ask any questions. The Realtor should be there as well. He is ultimately responsible for the property and any damaged that may be caused will be paid for by the buyer and should be cover with the inspector insurance. I never had any problems in this area. Basically, the property should be left in pre inspection state, after the inspection.   

Thank you for reading my post on home inspections. If it looks scary, it is not. It happens on just about every house sold.

Please like my post, leave your comments and better still, call and drop me an email with your questions and concerns, . I am always glad hearing from prospective clients that want to give me their trust and used me as their advisor and guidance.   

 Remember: “Pictures without the information is not the whole story” Realtor Ron W

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 Email:   Home Phone: 239-349-4684    Cell: 239-209-1923   

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Thanks Again,

Ronald Wolchesky, (alias Realtor Ron W)

Realtor ®


One response to “Advice and Insights on Home Inspections: Cape Coral, Fort Myers, Lehigh Acres +

  1. Pingback: 10 Questions to Ask Home Inspectors: Cape Coral, Fort Myers, Lehigh Acres + | Realtor Ron W

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