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San Francisco Real Estate – Buyer Beware or Get a Professional Home Inspection

Part of an ongoing series of San Francisco real estate & related guest bloggers, here is one of San Francisco’s top residential home inspectors, Bill Thomson of the Thomson Builder Group, letting you know all about the home inspection process when buying a home in San Francisco.

“ASK THE INSPECTOR… ABOUT HOME INSPECTIONS

One of the most important processes in buying a home is having it properly inspected.  The inspector can give you information about the property so that you will be more familiar with it and as a result have a better understanding of it. (SFHotlist – This is true whether you are buying a Bernal Heights single family home or a Mission Dolores condo.)

FINDING A HOME INSPECTOR:

Your real estate agent is a good resource for recommendations of home inspectors.  (SFHotlist – We keep an updated list of reliable local home inspectors for our clients to choose from. Other San Francisco home resources & service providers) Be sure to choose an inspector who is a licensed general contractor.  There is no licensing body for home inspectors themselves.  Choosing an individual who is a licensed general contractor can ensure that your inspector has reasonable qualifications.  Your inspector should at least have 10 years experience as a licensed general contractor

Be sure your home inspector has specific experience in expecting homes in the part of the Bay area in which the building is located.  If you’re purchasing a home in San Francisco, for example you want an inspector who has specific experience with the types of problems and repairs that typically occur in buildings of the type you’re purchasing. (SFHotlist – For example, are you buying an Inner Mission loft, a Duboce Triangle TIC, or maybe a Forest Hill single family home? Make sure your inspector knows the type of architecture.)

Your home inspector should not only be making specific recommendations for repairs but should also provide advice on the maintenance of the building and the installations with in it.

It’s a good idea to choose an inspector who has specific experience with the building department that has jurisdiction over the area in which the building is being purchased.  Most of my experience is in San Francisco.  I’m very familiar with the San Francisco Department of Building Inspection and the codes that they apply.

Your home inspector should have appropriate insurance.  They should carry errors and omissions insurance of at least $500,000.  This can protect you in case there is a serious mistake.  An example would be the report indicates that the furnaces in good condition, but two months later the furnace causes fire that damages the property the inspector’s errors and omissions insurance could come into play regarding that damage.

If you are using one of the larger San Francisco real estate companies such as Zephyr Real Estate, Pacific Union, McGuire, Paragon, Coldwell Banker, Prudential, Vanguard Properties or any of the other larger companies they will likely insure that a “Certificate of Insurance” by the inspector is on file with them.  However, it never hurts to ask.

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Powerful Home Buying Strategies: Don’t Be Pushed Into Any House. OR How Many Homes Should I See Before Making an Offer?

Powerful Home Buying Strategies: Don’t Be Pushed Into Any House. OR How Many Homes Should I See Before Making an Offer?

A common question from home buyers is, “How many listings should I see before making an offer?” (more…)

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Buying a home in San Francisco? Why it’s crucial to get preapproved for financing before beginning the house hunt.

If you are buying a home in San Francisco, it is crucial to get preapproved for a mortgage before beginning the house hunt.

Why?

  1. You’ll know exactly what you can afford. Understanding your purchasing power and any limitations * is integral to an efficient, focused home search. Spend your time looking at homes you can afford to actually buy. By focusing on homes that meet your needs, you’ll get a sense of market value for yourself and be able to make a smart decision as to which home to buy. There are many advantages to loan preapproval when SF home buying.
  2. Real Estate Agents will take you seriously. (At least, the experienced ones will.) Working with a great buyer’s agent is key, and a great agent will insist that loan preapproval is one of your first steps.
  3. Sellers will take you seriously. In SF, your offer on a home will simply not be taken seriously unless accompanied by a preapproval letter from a reputable mortgage broker or banker.
  4. All in all, you’ll get a better deal. The best deals in the competitive SF real estate market go to focused, preapproved home buyers working with credible, assertive agents.

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How does a Buyer’s Agent get paid?

Show my the money.
Show me the money.

FAQ: How does a Buyer’s Agent get paid for a typical San Francisco home purchase?

Great question!

99.9% of the time a Real Estate Agent or Realtor representing a home buyer is paid through the seller’s proceeds at the close of escrow. Yes, that means as a home buyer, you get our expertise, sound counsel, and most importantly, fiduciary duty to put your needs first for FREE. (more…)

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