HOUSE INSPECTION
Michael Holigan: Before you sign on the dotted line and invest in a house, it's smart to invest in a residential inspection. It's the best way to uncover potentially costly or hazardous problems with a home that even the seller may not know about. Kim Loomis has found her dream house, but she wants to make sure the dream won't become a nightmare when she moves in, so she's hired a residential inspector to examine the house with a fine toothcomb.
Don Stafford: I've gone ahead and noted already on the report that you've got a little bit of wood rot right here. This is actually a rodent's entry right there.
MH: The inspector has also found some minor foundation cracks and has told Kim the water heater needs to be about 11 inches higher off the ground. Kim can afford to make the crucial repairs and live with the rest, but that wasn't the case when she had a different home inspected.
Kim Loomis: I've had some problems when I had a contract in on another house and decided to pull it because there was, you know, probably ten to $15,000 worth of foundation work that was somewhat hidden.
MH: The home inspection normally costs between $125 to $300, depending on where you live and if they're also looking for termites. Now compare that with the cost of finding out that you have big problems after you close on the home. You can save tens of thousands of dollars with a $300 home inspection.
DS: You find everything that you can that's wrong with the house and that way at least you'll be informed about what it is, whether it gets repaired or not or whether you choose to live with or everything else.
MH: In addition to checking the structure itself, the inspector has special equipment to check for hazards you probably wouldn't notice yourself, problems like a cracked heat exchanger, a gas leak or bad electrical wiring.
Episode 61 1997 - 98 Season
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