House Talk: Home Inspections

(FOX Providence) - With home prices down, the market is ripe for the picking for home buyers. But there is one important piece of the home buying puzzle. Home inspections.

Matt and Ron Phipps of Phipps Realty have some advice.

Ron Phipps is set to be the 2011 President of the National Association of Realtors. Matt Phipps is the current chairman of the NAR Communications Committee and was recognized as one of the 30 Realtors under 30 in the country in 2008.

For those looking to buy a home, home inspectors are their most important ally.

"They get to make sure that its structurally sound, mechanically sound. That there aren't any safety hazards or concerns That everything in terms of the electronics are up to code and up to speed. It's basically just knowing you have the clear sense of mind and the point where if there are some issues, you can address those concerns directly with the seller," said Matt Phipps.

Depending on the size of the apartment or house, home inspections run anywhere from 250 to 650 dollars, with inspections for Radon and Lead costing a little extra. And not all home inspectors are created equal.

A smart seller should also hire a home inspector before the house goes for sale.

"If there are maintenance issues that need to be done they're identified, and more importantly if there's serious structural issues that they're addressed before the house is even introduced to the market," added Ron Phipps.

An inspector takes a look at every inch of the house, and focuses on some of the main trouble spots like water and heating systems, and the foundation. As well as making sure the electrical system is up to code. And then there's the roof.

"Obviously they want to pay attention to the critical elements of the house. Roof is first and foremost. I always get amused with people that are worried about putting flowers around the front of the house and the roof is leaking. It's really difficult to sell the house with a leaky roof," said Ron.

And at the end of the day, the home inspector is there to protect the investment of both the buyer and the seller.

"All of these are issues the inspector will go through at the end of the process, and its good for the buyer to get a sense of 'ok, now I know what I'm getting into," said Matt.