Home Inspections

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Home inspections offer a chance to walk through the home with a professional who can point out any structural, electrical, or plumbing issues in the home. Home inspections are needed when buying a residential property. Many buyers feel they don’t need a home inspection for new construction. I personally feel it’s always necessary. In New York, it’s done once a buyer has an accepted offer, before they sign the contract.. Obviously, these inspections are conducted in order to point out the negatives and the positives of the home.

 

Some home inspectors only point out the negatives. I don’t agree with only focusing on the negative since there is always going to be something positive as well, so just point out both. A home inspection should make you more aware of the ins and outs of your home. If you are doing construction, you will learn what you need to focus on. A home inspection is not an opportunity to knock down on a price for no reason. Sometimes, people who have given an offer of $1.8 million, will want to go down to $1.7 after the inspection. I say straight out, “You’re asking for a $100,000 price cut for no reason!” If after the home inspection there are legitimate reasons to make an adjustment, we have the seller take care of the issues or we work with the buyer to give them a credit, but this is only for major issues that were not noticed beforehand. Many times, there are high ticket items, like a roof or boiler, that are aged but are currently working very well. If this is the case, the seller is not obligated to give credit for those things. I understand buyers coming into the home and planning on doing renovations, but they are not really interested in putting a new roof in. But at the same time, because the roof is on its last leg, credits are not given. This situation comes up a lot that the buyer wants a credit because a big ticket item is old but still functioning.

 

Home Insurance

When buying a home, a buyer needs to purchase home insurance. We asked Jeffrey Weitz of MBJ Insurance a few questions to help guide our buyers through the process.

 

When does one need to get home insurance?

In general, you purchase homeowners insurance before closing on a home. By securing the coverage you need before you even move into your new home, you safeguard your purchase from potential disaster. It is important to research various insurance policy options as they may offer different levels of coverage.

 

What type of incidents does home insurance cover?

The most common insurance claims we are seeing are for wind & hail, water damage & freezing, fire & lightning, vandalism, liability, and theft.

 

 

I remember once a home had a fire, no one was hurt, but the insurance hardly paid them back because they had the “wrong” insurance. Can you speculate what it was? What can we learn from this?

Homeowners are under the impression that a standard home insurance is always the correct policy needed. However, there are special policies that are needed when a home is vacant, is under construction, or is rented out (not owner occupied). Please always consult your insurance professional to get the proper guidance for your property.

 

 

Include Burst: Fun Fact

The term “housewarming” is descended literally from the act of warming a new house, from the days before central heating. All the guests would bring firewood and build fires in all the available fireplaces, offering firewood as a gift.