McCauley Wilson & Butterfield

 

Home Inspection and Warranties

You have the legal right to know the true physical condition of the property you are about to buy. The California State Law Legislature enacted a law in 1987 which requires sellers to 'affirmatively disclose information about the condition of the house they are selling.' This information is supplied to the buyer through a document called a Real Estate Disclosure Statement, also called 'TDS.' The law allows buyers to decide the terms for buying the house - based on the disclosure statement or buying on an inspection. The law requires a seller or agent to disclose any defects within their personal knowledge. This law replaces the old 'buyers beware' of home buying. As the buyer, you need to review the real Estate Transfer Disclosure statement or TDS, with your agent. Ask for any relevant inspection reports - pest, seismic hazard, etc.

Most buyers will be better served by using a home inspector before they move into their dream home. Local regulations may include smoke detector installation, insulation, requirements, or zoning restrictions and limitations. Inspectors usually charge $300 to $400; pest inspections are about $175. Most agents have three or four inspections that they freely recommend. Checking with friends and acquaintances who have recently sold or bought a home can also be a helpful way of finding inspectors. You should carefully consider purchasing a home warranty to protect you against unexpected expenses. For a relatively small fee, $300 per year you purchase a warranty for major appliances and the building systems. Check with Realtor for details of these useful warranties.