Homebuyers should always be aware of the potential risks of any property purchase. One way to mitigate these risks is to invest in a 4-point home inspection before finalizing the sale. Here’s what to know about the inspection process and when you might need one.
What is a 4-Point Home Inspection?
A 4-point inspection is a home inspection that specifically assesses the condition of the home’s HVAC system, electrical system, plumbing, and roof. Insurance companies often require this inspection before they provide homeowners insurance coverage.
The Parts of the Inspection:
1. HVAC System: The inspector will check the condition of the furnace, air conditioner, ductwork, and vents.
2. Electrical System: The inspector will check the condition of the home’s wiring, breaker panel, and any other electrical components.
3. Plumbing: The inspector will check for leaks or damage to the home’s pipes, fixtures, and drains.
4. Roof: The inspector will check for any damage to the roof, including missing or damaged shingles.
Why Should You Get One?
There are several reasons why homebuyers need a 4-point inspection before finalizing the purchase of a property.
The most common reason for a 4-point inspection is an insurance company requiring one before issuing coverage. The insurance provider needs information on the condition of the home’s systems before determining whether it will insure the house and underwriting a policy.
An inspection can reveal hidden problems that could cost the homebuyer a lot of money to fix. For example, if the inspector finds significant damage to the roof, the homebuyer may be able to negotiate a lower purchase price or ask the seller to pay for repairs.
A 4-point inspection can also give the homebuyer peace of mind knowing that they have had the home’s major components checked by a professional.
When Should You Get a 4-Point Inspection?
Homebuyers should get a 4-point inspection when considering purchasing an older home. Older homes tend to have more issues, so it’s critical to have the major areas of the house checked out.
It is also a good idea to get this type of inspection if the homebuyer plans to make any major renovations. For example, suppose the homebuyer is planning on gutting the kitchen or adding an addition to the home. In that case, they will want to ensure that the electrical and plumbing systems can handle the additional load.
A 4-point inspection is not required for every home purchase, but it is always a good idea to have one done whenever possible. It could save the homebuyer a lot of money and headaches down the road.