As published in the Caymanian Compass l WEDNESDAY 8 MAY 2013 l
Home inspection firm formed
08 May, 2013
Utopia Home Inspections is a new company launched by Valentino Salvi.
Mr. Salvi entered the real estate market a few years ago with Utopia Realty. Having listened to frequent complaints from home buyers about unexpected problems with their homes, Mr. Salvi realised the need for a proper home inspection service in the Cayman Islands.
Mr. Salvi emphasised that with a pre-inspected home report, real estate agents will be armed with a free risk management tool, hence increasing closing rates. Mr. Salvi was trained by the American Home Inspector Training Institute in Florida.
During a home buyer inspection, a professional home inspector comes to the home the buyer is thinking about buying. He does a thorough inspection, which lasts anywhere between two hour to four hours, depending on the size of the home.
While at the home, the inspector checks all areas and aspects of the house for deficiencies. He usually works from the attic to the basement or vice versa, checking the foundation, the beams, the boards, the walls, the outlets, the heating system, vents, fireplaces and any other interior and exterior aspects of the home.
During the home buyer inspection, the inspector is generally checking for anything that could be costly to fix, such as foundation problems, roof problems, issues with the heating or cooling system, or the presence of asbestos, lead paint or mold.
While an appraisal gives an indication of what the market value of a home is, major structural defects or other related issues could lower the value of a home dramatically, especially if it will cost a great deal to fix the issue. A home buyer inspection identifies these issues so the bank and buyer can be aware up front of any unforeseen costs.
Usually, any offer a buyer makes is contingent on a home passing the home buyer inspection, so a buyer does have an out – or the opportunity to lower his offer – if the home buyer inspection reveals defects. A home buyer inspection is a safeguard against financial damages that could result from unknowingly buying a house that is in poor condition.