What is an Inspection?
An inspection is an evaluation conducted by a professional to assess the physical condition of a property.
The inspector's goal is to identify deficiencies in systems, potential hazards, and the lifespan of the property's components.
The results of the inspection will be provided in a report supported with photos and estimates for repairs and/or replacements.
When is it Conducted?
In South Florida, a clause is established in the contract specifying the period during which the buyer has the right to conduct the inspection and make a decision. This period typically ranges from 5 to 15 days.
Why is the Inspection Important?
As a seller, you must understand the importance of property inspections since the transaction will be subject to the inspection results.
Once the inspection report is received, the buyer will decide, within the period established in the contract, whether to proceed, cancel, or negotiate the transaction.
Therefore, it is crucial for the seller to prepare the property to achieve a positive result, as a certified inspector will evaluate the following aspects, among others:
- Structure: The foundations and framework of the house.
- Exterior: Condition of sidewalks, ramps, steps, windows, and doors.
- Roofing: Consider the age, condition, drainage systems, state of shingles, gutters, and chimney condition.
- Plumbing: Examine water supply and drainage, water heater, sump pump, and fuel storage. The examination includes water pressure, pipes, rust stains, and corrosion.
- Electrical: Ensure wiring is safe, including service wires, service panels, breakers, switches, fuses, and outlets.
- Heating: The system includes ventilation ducts and chimneys.
- Air Conditioning: Includes the home's cooling system, equipment, and energy source.
- Interiors: Check for pipe leaks, insect damage, water damage, and construction defects, among others.
- Ventilation and Insulation: Proper insulation and ventilation prevent energy loss. Excess moisture results in mold and water damage.
It is advisable to make minor repairs and improvements within your reach to avoid contract cancellation.
Enrique Vicente Urdaneta
Real Estate Advisor | eXp Realty | EVU Luxury Homes
305.209.6418
www.instagram.com/evuluxuryhomes
Disclaimer: The information presented in this article is intended to provide a general understanding of the topic. However, please note that I am a real estate agent, not a lawyer, accountant, tax, or financial advisor. This content should not be taken as legal, tax, accounting, or financial advice. The laws and regulations related to this topic can be complex and may change or expand in the future. Therefore, it is crucial to consult with a qualified professional, such as a specialized financial or tax advisor, before making any decision based on this information. As a real estate agent, I can provide various options and professional guidance related to the real estate aspects of your investment strategy, and for matters related to tax implications, legal issues, and financial planning, please consult with the appropriate professionals, which whom I have allies I can refer.
