All posts tagged 'real estate inspection'

The Underlying Dynamic of the Home Inspection: Liability Hand-off from Client to Inspector and Back Again.

Home Inspection Hand off

Many buyers and even some realtors don’t understand the true nature of a properly performed home inspection. When a home buyer has an offer accepted on a property and engages the services of a home inspector (hopefully after doing extensive research and comparing inspector backgrounds, inspection reports, online reviews, etc.) they are placing a significant burden upon that home inspector. That burden or expectation is that the inspector will find all significant defects in the subject property and report upon them in a clear and useful manner. What the home buyer may not understand, however, is that upon completion of the inspection report the inspector is handing that burden back to the homebuyer. In other words, by ferreting out the conditions and defects in the property and providing the buyer with a clearly worded report, the inspector gives the liability back to the homeowner to read the report, call back with any questions, and follow up on recommendations contained within the report.
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Risk Reversal in Real Estate Inspections: Putting the Responsibility Back on the Seller

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So you found the perfect home and your offer has been accepted. Congratulations…..now it’s crunch time. In the typical Chicago real estate transaction you, as the buyer, have 5 days during which your attorney will review your contract and your inspector will evaluate the condition of the property. In a competitive and active market, you don’t have much time to waste. You’ve gotten referrals from your realtor, closing attorney, lender, Yelp, Angie’s List, neighbors, friends and co-workers, and you’ve found just the inspector for the job….you hope.  You set the appointment and the inspector sends you the Inspection Agreement. Reading through the agreement, or contract for services, you may be struck by the apparently one-sided nature of the risk placement…it’s all on you!

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A Chicago Alley Tale

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If you live in or around Chicago then you know that a huge ‘buzz’ in the real estate industry lately is the new ‘606 Trail’ aka ‘Bloomingdale Trail’. It’s a section of an abandoned railroad line that has been converted to a very pleasant hiking/biking trail. If you live in or around Chicago you also know that our politicians have a long history of taking advantage of real estate opportunities. Continue Reading

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Tap Water Contaminants: What You Can Do

Tap Water Contaminants: What You Can Do

For the health and safety of you and your family, we strongly recommend installing a whole-house water filtration system. While not cheap (the most effective models can cost $800-1,200+, plus installation and maintenance), if you can afford it, you should consider doing it. While under-sink, faucet-mount and refrigerator models work for drinking water, they won’t protect you from the chemicals your body can absorb while bathing. For an in-depth article on the dangers posed by unfiltered tap water, visit http://articles.mercola.com/sites/articles/archive/2012/11/27/drinking-water-with-chloramine.aspx

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