Pasley and Singer Law Firm, L.L.P.


Serving Story County and Central Iowa since 1906

323 6th St.
Ames, IA 50010-0664
USA
 

Phone: (515) 232-4732
 

REAL ESTATE :: Back to Practice Areas

I. Brokers
II. Contracts and Transfers
III. Mortgages and Foreclosure
IV. Deeds
V. Home Inspection
VI. Closing
VII. Glossary
Frequently Asked Questions

See also:


Home Inspections

A home inspection can relieve some of the stress of purchasing a house. Independent home inspectors can give a buyer a full assessment of the property he or she is considering purchasing. The inspector’s report provides a full and unbiased evaluation of the house’s condition and indicates whether the house needs any work or may need work in the future. Reviewing a home inspection report with a real estate attorney will provide a buyer with an advantage when negotiating the purchase.

Obviously, a buyer should inspect a house before making a decision. However, a professional inspection should be done to uncover less obvious defects. In many states, inspectors require a license. Appraisals required by lenders are mainly superficial, stating the property’s value compared to similar properties sold within mainly the past six months, and do take the condition of the home into consideration of the value. FHA and VA loans also require a third party appraisal, and will require that specific cosmetic and other obvious defect be repaired before completion of the sale. These repairs are considered as completed when assessing the value of the home by these government licensed inspectors. Appraisers do request or recommend additional inspections if they see problems that raise suspicion, such as potential structural defects or insect infiltration, such as termites. Termite inspections are mandatory for VA mortgages, and are extremely advisable on all others.

Home inspectors look at a number of things, including:

  • Structural issues. These include the foundation, ceilings, walls, floors, and roof.
  • Mechanical systems. These include the electrical system, plumbing and waste disposal, heating and air conditioning, water source and quality.
  • Construction issues. These include ventilation, insulation, windows, and doors.

When inspectors discover problems, they may recommend a more thorough investigation. Buyers should also consider requesting inspection for health-related issues such as radon, lead, or asbestos. Many buyers prefer to attend the inspection, although this is not necessary. Many inspectors will answer questions about their findings and offer an objective opinion at the inspection.

Most often, home inspections are not done before completing an offer on a property, and the buyer should always include an inspection clause in the offer. This allows the buyer to back out of the purchase if an inspection reveals serious problems.  It can also require the seller to adjust the sale price or repair problems before purchase. The cost of an inspection is generally less than $500. It is well worth the price to disclose problems with the property’s value and safety. A real estate attorney can help to guide you through the inspection process.

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Pasley and Singer Law Firm, L.L.P., is an Iowa general practice law firm with practice including, but not limited to  Administrative Law, Adoption Law, Agricultural Law, Alternative Dispute Resolution, Banking Law, Business Law (including business organization, partnerships, limited liability companies (LLCs), incorporations, and sales of businesses and business assets), Civil Rights, Commercial Law, Construction Law, Corporate Law, Criminal Defense, Elder Law, Employment Law, Family Law (including divorce, prenuptial agreements, child support, child custody, dissolution modification), Government, Government Contracts, Litigation, Personal Injury (including Motor Vehicle Accidents and Wrongful Death), Product Liability, Professional Negligence Law, Real Estate (including mortgage loan closings, IRC Section 1031 exchanges, subdivisions, platting, condominiums, and cooperative housing), Municipal Law, Taxation Law and Tax Preparation, Wills, Trusts, Estate Planning & Probate Law (including financial and medical powers of attorney, guardianships and conservatorships, trust administration, and estate administration), Workers Compensation, Zoning, Planning & Land Use

The offices of the Pasley and Singer Law Firm, L.L.P., are located in Ames, Iowa. The lawyers and staff of the Pasley and Singer Law Firm, L.L.P., serve clients throughout Iowa, including the cities of Ames, Nevada, Gilbert, Huxley, Slater, Zearing, Story City, Roland, McCallsburg, Colo, Cambridge, Sheldahl, Des Moines, Cedar Rapids, Fort Dodge, Waterloo, Marshalltown, Boone, Webster City, Eldora, Grundy Center, Newton, Adel, Eldora, Ankeny, Johnston, Indianola, Cedar Falls, Jefferson, Marshalltown, Clarion, Knoxville, and the communities that make up Story, Polk, Linn, Webster, Blackhawk, Marshall, Boone, Hamilton, Jasper, Dallas, Hardin, Warren, Greene, Wright, and Marion counties.