You found the perfect Suffolk County NY home, your offer was accepted by the seller, and now it is Suffolk County NY home inspection time!
Home inspections are very important during the home buying process. Your certified home inspector is quite skilled at discovering underlying problems with a structure.
If at all possible, make sure you are present with the inspector when he or she is going over the house. Inspectors are great at explaining all of the little features of the house, especially when it comes to the mechanical, electrical, and plumbing systems.
Learn Where Things Are During Your Suffolk County NY Home Inspection
In addition to any problems your inspector may discover, he or she will also be able to show you where your water shut off valves are located. Knowing where your shut off valves are located is extremely important in case one of your plumbing fixtures, or pipes, suddenly sprouts a leak. For example, if your dishwasher ever decides to start flooding your floor you will know exactly where to go, and what to do, to turn the water off and minimize the water damage.
If your inspector does find a problem with the home you are buying, they usually have several ideas on how to correct the situation. If there are only a few problems and they are relatively minor, you may elect to correct the problems yourself after you move in. If your inspector finds a major problem, you may need to discuss this at length with your real estate agent. Regardless of whether any items are minor or major, your home inspector will give you a detailed report of all of the problems, and potential problems, they discovered during the home inspection process.
What Happens After Your Suffolk County NY Home Inspection
A major problem with the home is usually addressed in a repair addendum. The repair addendum is simply a list of defects that were discovered during the inspection process. The addendum is written up by the buyers' real estate agent and signed by the buyer. The repair addendum is then delivered to the seller's real estate agent who delivers and discusses the addendum with the seller.
At this point, the buyer waits for a brief time, usually a day or two, while the seller considers whether to make the requested repairs, refuse to make the requested repairs, or offer money off of the price of the Suffolk County NY home, if the buyer will accept the house as it is. In most cases you can come to some type of arrangement with the seller regarding any problems you discovered in the house.
Occasionally, there is some sort of problem with the house that seems overwhelming to both the buyer and the seller. If no mutually agreeable compromise can be reached, the buyer usually has the option of walking away from the house and ending the contract of sale. Hopefully, this does not happen to you.
Buying a Suffolk County NY house is an exciting adventure and a huge financial investment. Unless there is some underlying circumstance that prevents it, always get a home inspection of any improved real estate you are considering buying. The price of a home inspection is miniscule when compared to the price of a new roof, or some other major home repair. Do yourself a favor, don't skip the home inspection.
For more Suffolk County NY home inspection tips, visit the Suffolk County NY Home Inspections section of our website to your right.
Is your Suffolk County NY home covered from damage or loss from sinkholes?
With all the news recently about sinkholes swallowing up homes, cars, boats, and anything else that's sitting there when the earth opens up, we thought you might like to know.
Sinkholes Usually Develop Over Time
Sinkholes have been happening for thousands of years, say geologists. When sinkholes do develop quickly, they can be fatal.
In March this year, Florida resident Jeff Bush went missing after an apparent sinkhole opened in his bedroom in the middle of the night, sucking him and his bed deep into the earth. (After several days, search efforts for Bush were called off and he was presumed dead.)
Sinkholes like two others seen this year in Florida form when slightly acidic groundwater dissolves limestone or similar rock that lies beneath the soil creating a large void or cavities. When the overlying ceiling can no longer support the weight of the soil and whatever is on top of it, the earth collapses into the cavity.
Just because one sinkhole opens, does not necessarily mean another nearby is imminent.
Sinkhole insurance is optional in Florida and many other states, and many people have ditched it to save money.
If you opted out of sinkhole coverage, claims for things like cracks in the driveway or fractures in the walls will be denied.
However, every homeowner's policy covers something called "catastrophic ground cover collapse." That's when a sinkhole opens suddenly and severely damages your Suffolk County NY home.
The key is, a local authority must condemn the property. Claims are only paid when a home is unlivable. Every policyholder — even those who've said no to sinkhole coverage — have that assurance.
Why is the other sinkhole coverage optional?
Insurance companies say many smaller, not-so-newsworthy sinkhole claims are draining their coffers.
It seems to twisted logic: but if you're going to have a sinkhole and you want insurance to pay, you want it to be a whopper.
So, should insurance companies be doing more to prevent sinkholes from becoming catastrophic?
Consider this: when asked recently about how much an insurance company would pay to trim trees that lean precariously over a Suffolk County NY home (which is zero, by the way) the Insurance Information Institute said, point blank, a homeowner's insurance policy covers damage — not threat of damage.
So if a tree leans? It's not covered. If a tree falls? It's covered.
And it's the same with sinkholes. Does your house have cracks? The claim will be denied.
Was your house swallowed? Claim approved.
Get more insurance information by clicking the Suffolk County NY Insurance link to your right under Suffolk County NY Real Estate Categories.
As we all prepare for the holidays, there is another major item creeping up on us. Tax time is fast approaching once again, and we have some year end tax moves and suggestions you should start thinking about now, even while you're thinking about the holidays.
Check out our other articles and tips on tax moves to be considering now by clicking on the Taxes link to your right under Suffolk County NY Real Estate Categories. We'll keep you informed on any breaking news that might affect your Taxes right here at our website.