For most of us, our home represents the largest investment we’ll make in our lifetimes. It’ll also be one of the most complex transactions for most of us. First, finding the house involves difficult decisions regarding location, schools, financing and, in larger metropolitan areas, filtering through hundreds or even thousands of properties. Then there are the various issues after finding the home: writing the offer, the terms of the offer, finding the right lender, choosing the right loan program, going through the escrow process and satisfying the terms of the contract.
In the center of it all – is the property we’re attempting to buy. Homes are made up of major systems such as plumbing, electrical, refrigeration or heating to name just a few. The home itself is a complex combination of systems and subsystems. Literally hundreds of defects can exist which wouldn’t be obvious to the naked eye. A professional home inspector will inspect the entire structure from roof to foundation, interior and exterior and all electric and mechanical parts of the home.
“Buyer Beware” at one time was the mantra. That’s no longer the case in Arizona. The Arizona Association of Realtors Residential Purchase Agreement provides two significant protections for buyers: First, there is a period of time during which the Buyer can have the property inspected by a professional Home Inspector. Secondly, there is a mechanism in the process that provides for the Seller to disclose all known defects to the Buyer. The Seller’s Property Disclosure Statement (SPDS) is a form that asks every conceivable question related to the property. Unless a Buyer waives the requirement in the original offer, the seller is required to complete the form and provide it to the buyer within 5 days of the contract. Buyers comparing the sellers responses with the Inspection Report have intimate knowledge of the property before the escrow closes. After the inspection, the provision in the agreement allows the Buyer to request the Seller to repair the major systems before the escrow closes.
Arizona Home Inspectors are required to be registered and certified with the Arizona State Board of Technical Registration. This Board is also the regulatory agency for Architects, Assayers, Clandestine Drug Laboratory Site Remediation On-Site Workers and On-Site Supervisors, Engineers, Geologists, Home Inspectors, Landscape Architects, Surveyors and Remediation Specialists.