Lake Travis - Westlake Edition | July 2023

INSIDE INFO

2023 HOME EDITION

HOME

REAL ESTATE REVIEW

EXAMPLE REPORT

Inspectors must ll out a multiple-page report when reviewing a home in line with state regulations. However, the process isn’t used to conrm building code compliance and any additional information provided beyond basic state- mandated checks depends on the inspector.

INITIATING AN INSPECTION

INSPECTIONS

Inspections take place during the option period—a negotiable time frame during which a buyer can inspect a home, amend a contract for relevant repairs or cancel a deal—and are often sought before one-year warranties expire.

Inspectors are required to look over dozens of parts of a home and highlight any deciencies. Two examples are listed below.

COMPILED BY BEN THOMPSON

FIREPLACES AND CHIMNEYS

ON THE REPORT:

I: inspected NI: not inspected

NP: not present D: decient

One key piece of the process to buy a home is having it inspected. Community Impact spoke with the Texas Real Estate Commission and Joey O’Brien, the owner of Austin- based Inspect It, to lay out the details of the inspection process. The inspection involves a professional canvassing of a new or existing home to ensure it’s up to various building and safety standards. WHAT'S A HOME INSPECTION? Texas does not mandate that home inspections take place, but lenders may require an inspection before a purchase to secure nancing. ARE HOME INSPECTIONS REQUIRED? Professional real estate inspectors are state certied, trained and qualied to inspect homes for both buyers and sellers during a real estate transaction. WHO ARE HOME INSPECTORS?

NP D

Final negotiations and closing, or ending option

Agent helps their client searching for a new home

After nding a home, client submits an oer and signs a purchase contract

During the option period, the buyer or seller may schedule an inspection*

ROOF AND ATTIC

A. Foundations TYPE OF FOUNDATIONS: COMMENTS: B. Grading and drainage COMMENTS:

*UTILITIES TURNED ON PRIOR TO THE INSPECTION

WINDOWS

FINDING AN INSPECTOR

FLOORS AND CEILINGS

WALLS

The TREC lists all licensed inspectors, including details on education and disciplinary history, at www.trec.texas.gov.

DOORS

STAIRWAYS

Real estate agents can conrm licenses and provide a list of preferred inspectors. Friends and family can also provide recommendations based on past experience.

WHAT DO TEXAS REAL ESTATE PROFESSIONALS DO?

FOUNDATION

DID YOU KNOW?

Not all inspectors are experienced in all aspects of a home. For homes with features like septic or irrigation systems, pools or detached buildings, or if seeking an expert opinion on an issue such as pests, look for an inspector with a background in those areas.

HAVING ISSUES?

Inspections also cover various pieces of the following systems:

Sales agents: handle property transactions for clients on behalf of a broker

Brokers: manage all activities of a real estate oce, overseeing agents

Appraisers: estimate property values

Inspectors: inspect real estate

Consumers may le complaints with the TREC within four years of an incident. Complaints must be written, and the commission has a stock form available to use at www.trec.texas.gov .

Heating, ventilation and air conditioning

Plumbing and drainage

Appliances Optional systems

Porches, balconies, decks and carports

Electrical

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