By: Dennis Norman Gerry Loesch, P.E.
I am writing a series of posts for a real estate consumer blog, http://realestateconsumernews.com/ on the subject of private building inspections in which I did an E-View TM with Gerry Loesch, a seasoned veteran in the field. Gerry is a wealth of information and the resulting posts I think are quire helpful to a home buyer or seller.
During the E-View TM we also briefly discussed reasons why an investor should consider obtaining a building inspection when buying, even for REO’s and other “as-is” sales. I want to share that part with you here.
First, some quick background information on Gerry: Gerry is a licensed Professional Engineer in Misouri, Illinois, Colorado and Kansas and has been performing home inspections for 32 years. Gerry was one of the first 100 members of ASHI (American Society of Home Inspectors) and has served that organization as its National President. In Gerry’s career he has done over 15,000 home inspections.
So what is ASHI and what is the significance of a building inspector that is part of the organization? I posed that question to Gerry and his reply was:
ASHI (The American Society of Home Inspectors) is a not-for-profit organization for Home Inspectors. ASHI began in 1976 and currently has approximately 6,000 members. ASHI sets the standard for home inspectors including the establishment of a Standards of Practice (what is to be covered on a home inspection). It also has a code of ethics which state that inspectors should be unbiased and have no relationship to the property. Full requirements and more information can be found on the ASHI website. For an inspector to become a member requires taking two tests; one on the Standards of Practice and Ethics and the other is the NHIE (National Home Inspectors Exam). In addition to the exams to be a certified member of ASHI an inspector must have performed a minimum of 250 inspections with a sampling of which having been reviewed by ASHI for conformance to the Standards of Practice.
I then asked Gerry if an investor, even a seasoned one that is experienced in buying homes, should obtain a private building inspection when buying homes, including REO’s, foreclosures and short-sales. He answered:
In my opinion, they should have a building inspection performed even though it may be a reduced scope inspection due to the fact that in many cases the utilities are no on which is critical to perform a complete building inspection. The investor has a bias and may not have the background to evaluate all aspects of the home. The inspection will allow him or her to make a more intelligent decision with regard to whether to proceed with buying the home or the need to renegotiate price as a result of the inspection.
For the complete E-View TM please visit http://realestateconsumernews.com/
If you would like to contact Gerry direct, he can be reached via email at GLoesch@LandAm.com or GerryL11@Earthlink.net , or by phone at (314) 249-8370 (cell) 1-800-285-3001 (office).
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