Yesterday was no different. Realtors cannot misrepresent or act as professionals in other areas - we are not inspectors, builders, lawyers, accountants, mold remediators...... we are real estate agents. We have studied contract law, real estate law, and introductory courses on some of the above items - but only someone who does it for a living is completely "in-the-know".
One key take-away from yesterday is what the inspector is really doing there. They are looking for safety issues. If your inspector is constantly saying "this is not to code" - they are doing you a dis-service. Most homes have things that are not to code, because the codes change regularly. They were probably to code at the time of being built or installed, but they aren't now. Is this a problem? Not usually. Unless it presents an unsafe situation for you and your family. Of course, we all know of the "homeowner fix-its", but again - if it is poorly done it does not matter unless it is unsafe.
I love home inspections - it helps the Buyer learn about their future home or cottage. Where are the shut-off valves, how the systems work, and more importantly, they offer a blueprint for the Buyer of future maintenance. The home inspector will point out what may need repair/maintenance or replacement within the next year, 5 years, 10 years - it gives the new home owner a guide, a plan to help with reducing surprises.
There was also discussion around mold - every home has mold - did you know that? There are also often very easy fixes for this very common occurrence. Many Buyers will eliminate a property that has signs of mold - but this can be a big mistake - that could be the perfect home or cottage and it is passed over. Don't get me wrong - mold can also be a very serious issue! I am just saying not to dismiss a property without getting more information.
Currently there is no mandatory regulations in place for home inspectors, but over the next few months there are big changes coming. Ask some very important questions before hiring a home inspector - what designations does he/she have, what association do they belong to? Did you know that OAHI members (Ontario Association of Home Inspectors) voluntarily follow a set of regulations? Good to know!
We are lucky in our County that we have some excellent home inspectors. They are extremely knowledgeable, ethical, and thorough. Please -- never buy a home or cottage without an inspection!
Lets make sure that everything that we do is for the best of our Property Investment Portfolio. We have to force ourselves to do the task that will help our business well. Easy and step by step is what we should take to make sure that we achieve our goals slowly but effectively.
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