A 4-point inspection is usually requested by insurance companies, especially if you’re buying a home older than 25 years. Basically, it gives the homeowners insurance company a measure of risk – and can dictate how much you will pay in premiums and deductions for them to cover that risk.
If you’re a real estate professional or a home-buyer/seller, what should you know about home inspection and the companies offering home inspection services? Author Dylan Chalk shares information about the home inspection business:
Homebuyers are excited and frightened about a home purchase. They are excited because a new home is filled with possibilities and promises. They are fearful because – for most people – a home purchase represents their biggest financial investment.
Florida homeowners know about wind mitigation. In 2004, Hurricane Charlie hit Florida with winds at nearly 150mph. In 2005, wind-measuring equipment failed, but Hurricane Irma was clocked at 130mph off Marco Island.
Buying a home is an exciting time, but it can also be stressful. One of the stressors is the home inspection, but it shouldn’t be. This is a golden opportunity for potential buyers to flesh-out problem areas and reaffirms their choice of a property that may be their biggest personal investment.
Insurance companies in Florida may request a “buyer’s inspection” or a “4-point inspection.” Both types of residential property inspections have merits. As a buyer, you want a whole-house inspection to reveal current and potential pain points. And you certainly want to know if there’s any structural damage that can lead to massive renovation or poses a hazard to your family. As a homeowner, your insurance company may recommend a 4-point inspection to qualify your property for insurance coverage or to lower your rates and/or premiums.
Here in Volusia County as with other areas of Florida, insurance providers are more cautious today than ever before. Florida has been pummeled with what most of us feel is more than our fair share of storms and hurricanes. Wind mitigation is more important than ever, and many insurers will request regular 4-point inspections for homes 25 years and older.
There are things going on inside the walls of residential and commercial properties you can’t see. Your home inspection should include thermal imaging using an infrared camera to pinpoint unseen problem areas. The best Florida inspection companies do just that.
As a real estate professional, your reputation depends in part on your recommendations for residential service or financing information. Many home inspection specialists offer a free initial visit to give buyers a “guesstimate” regarding a home’s plumbing, roof, etc. This can be an attractive offer to budget-conscientious home buyers.
Sometimes you don’t appreciate something until after-the-fact, like wind mitigation. This is a building technique Florida homebuilders use (or should) to protect residential and commercial structures from wind damage.