A 4-point inspection is an examination of the current condition of a house or condominium, reviewing four major systems: roofing, electrical, plumbing and HVAC.
This specific inspection may be requested by homeowners insurance companies before someone can renew or be eligible for their desired coverage plan. More recently, insurance companies have been hesitant with providing coverage to homes on the real estate market over 20 years old due to their increased liability.
For example, someone seeking coverage for a home that is 30 years old may have electrical or HVAC system issues that could arise within the next few years. Insured homeowners will likely seek reimbursement for such issues, costing insurers more in the long run. Insurance providers utilize the results of this exam to have a clear picture of the financial risk being taken on with the insured property.
New homeowners can also use this as a tool to gauge whether the prospective property is worth the investment before fully committing financially to a mortgage. Noticeable issues found in the four major systems of the home can be telling of future headaches on the horizon.
Even if you’re not located in a state that requires this particular inspection, there are several benefits to having one done:
1. Fast and inexpensive: These inspections are known for being inexpensive and are performed by a trained, licensed professional within 1-2 hours.
2. Guarantee the condition of your real estate: If you’re thinking of selling, this inspection can allow you to see what issues need to be addressed before proceeding. 3. Avoid future headaches: Evade unexpected issues by proactively checking on the condition of the major systems in your home.
When having a 4-point inspection completed on your new forever home, the licensed inspector will examine the following systems:
1. HVAC (heating, ventilation and air conditioning): Does your home have air conditioning and central heating? If so, what condition are the units in and are there obvious signs of leakage?
2. Electrical: Do you know the type of wiring running throughout your house? Homes with aluminum, knob-and-tube and copper wiring present increased fire hazard risks and are commonly uninsurable.
3. Plumbing: Are the pipes in your home made of polybutylene, which is known to cause leakage problems? Inspectors will examine pipes to gauge their likelihood of bursting, which could lead to water damage.
4. Roofing: Is there apparent shingle damage or cracked tiling on your roof? Inspectors will be looking to determine the age, material and life expectancy of the roofing system.