Real Estate Investment

Posts Tagged ‘inspection business’

If you are investing in a home, you would want the most accurate Real Estate inspection done by the most qualified Real Estate inspector possible. Knowing how to choose a Real Estate inspector is important because home inspection is an integral part of buying a Real Estate investment. There are many Real Estate inspectors on the market and you need to choose among them carefully or you will end up with bogus estimates of repairs.

Choosing the right home inspector can be a difficult job especially for new Real Estate investors. You need to interview the inspector and ask many questions. Below is a checklist of how to choose a Real Estate inspector to help you ask the right questions.

Real Estate Inspecting Experience

The first thing to ask a Real Estate inspector is how long he/she has been in the Real Estate inspection business. How experience is the home inspector? How long has this home inspector been in business? Number of homes inspected The number of years is not the only factor to consider.

What if the Real Estate inspector has been in business on and off for man years but has not really inspected many properties? Your next question is: how many home inspections does the home inspector do a year? This means you should be careful when hiring a home inspector who does home inspection as a side business. You also want to hire a Real Estate inspector who has inspected many of the same type of property as the one you are investing in.

Real Estate inspection report

You will also want to know what information will be given to you. You want as much information as possible but some inspectors give more information while others give less. How will the home inspector provide the home inspection report? Is it verbally? Is it in writing? or is it both? You might also want a home inspection report that contains recommendations for solving any problems found.

Real Estate inspection certification

You will also want to know if the home inspector is certified. Does he or she have an ASHI certification?

Errors and Omissions insurance

Many Real Estate inspectors carry errors and omissions insurance nowadays because a simple mistake can lead a Real Estate investor to dire financial losses. You need to ask: does the home inspector carry Errors and Omissions insurance? This type of insurance is designed to protect buyers if there is anything missed in the inspection.