All answers are provided by the instructor of the course.
Q: Are home inspections required by the State or by financial institutions prior to the sale of a property? What is the demand for somone in this career?
A: "It is not a state law that you have to have a home inspection done, before you buy a property, but home inspections in this state can only be done legally by a licensed inspector.
It is smart to get one done and 99% of the realtors recommend having one done (they see it as limiting their liability, whether real or not).
Banks recommend them, but if you’re dealing with a foreclosure, they usually are sold on an As-Is basis, so the home inspection is more for the buyer to identify repair work.
In the real estate contract that is used in this state, it has a section that the sale is pending the satisfactory acceptance of all inspections (property, well, septic etc.) and a time frame is given (usually 7- to 10 days). Based on what the inspection finds, the buyer can renegotiate the price, or get out of the deal. Once accepted, or the client does not want an inspection, the sales goes to closing, and the buyer becomes the owner.
Both the home inspection and appraisal are done before the closing. The appraisal is a totally different thing. Appraisers are also licensed by the state, and hired by the bank. Their purpose is to appraise the value of the property/ compared to what the buyer is paying (or borrowing). You can ask for a million dollars for your house, but if the appraiser says it is only worth 50,000, the bank will not loan you more than 50,000. "
Q: After taking this course, are you qualifed to take the National Home Inspector Exam and become licensed?
The law of Indiana is:
- 1. You have to take a qualified training class which consists of a total of 60 hours (48 hours of class work covering all areas of home inspection as required by the state, and 12 hours of “Lab” work.) I cover the “Lab Work” by taking the students to actual inspections at property in LaPorte county. This is a Pass / Fail course, with tests, lectures, homework etc.
- 2. Once you pass the course, you are qualified to take a National Exam. Last year given in Ft. Wayne, costs around $300.
- 3. Once you pass the national test, You send your proof of passing the course, passing the national test, and proof of having the required liability insurance, plus you application and fee to the state, and they send you back a license, renewable every two years.
- 4. To renew in two years, you have to take 32 hours of continuing education.
Now the course is based on the requirements for licensing in Indiana, in addition to the many technical areas, report writing requirements, marketing, equipment, national organizations, plus the chance to interact with a working inspector.
The license requirements for Indiana follow the breath of technical knowledge you need to pass the national exam. The text we use, is a recommend study guide for the national exam, but our class is not a study class for the national exam (although it would be very helpful if you’re just interested in the national exam).