Should I give a copy of the home inspection report to the bank or insurance company?
Tuesday, August 21, 2018
Not if there is any way you can avoid it. And definitely do not bring up the fact that you have had a home inspection or volunteer to send them a report. A comprehensive home inspection report is simply more information than is necessary for an underwriter to make a determination as to whether to approve a mortgage or issue a homeowners policy.
If either of them insist on receiving a report, we suggest that you offer to provide a four-point inspection report. The company that did your original home inspection provide can usually provide one at a nominal additional cost. A “four point” provides basic information about the four main components of a home that mortgage lenders and insurance companies are concerned about: 1) the roof, 2) electrical system, 3) plumbing system, and 4) heating and air conditioning system.
Your insurance company in Florida may also request a wind mitigation inspection report, which is a separate inspection that evaluates the hurricane resistance of your home for possible insurance premium discounts.
Also, see our blog post How can I make sure I don't get screwed on my home inspection?
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To learn more strategies for getting the best possible home inspection, here’s a few of our other blog posts:
To read about issues related to homes of particular type or one built in a specific decade, visit one of these blog posts:
How To Look At A House
McGarry and Madsen's home inspection blog for buyers of
site-built, mobile/manfuactued and modular homes
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