Free Home Evaluation Worksheet

The "Detailed Inspection" section of the Home Evaluation Worksheet provides a format for listing details regarding specific components of a specific residence. Appliances and draperies may or may not be included in the purchase price of the residence, depending on the wishes of the seller. It is important to clarify what fixtures, appliances, and other items of personal property will be included in the purchase.

While some of the information to be listed in this section can be gathered through casual observation on a routine "walk-through" inspection of the residence, it may be helpful to request the services of a professional for some items. For example, a professional may be required to conduct an adequate inspection of the furnace or other structural components. This section assumes that the buyer will inspect both the interior and exterior of the residence. Therefore, some items (foundation and doors, for example) are repeated in several sections of the listing.

The term "easements" refers to the legal right of a third party to use a portion of the property for a specific and limited purpose. For example, there may be specific areas of the property where utility lines may be located. Generally, the owner will not be permitted to construct a residence or other building where the easement is located. Further, the third party holding the easement rights (for example, the utility company) most likely will have the right to enter the area of the easement to maintain the utilities or to conduct other activities specifically related to the easement. The existence of easements should be obtained from the title examination and reporting process or from the real estate agent.

The term "encroachments" refers to buildings, fences, shrubbery, or other items that are located along boundary lines. Encroachments can adversely affect relationships with neighbors, cause problems with the title to the property, and create difficult hurdles in obtaining financing for the purchase of a residence. While a casual inspection may raise some questions about the possibility of encroachments, a survey may be required to make an actual determination as to whether an encroachment exists. Lenders often require a survey as part of the loan application process to make sure that there are no encroachment problems.

It is very important to conduct a thorough review of the property in an attempt to determine if there are any potential environmental problems with the property before you decide on a purchase. Today's environmental laws often will force the current owner to abate the problem regardless of whether the current owner actually created the problem or had knowledge of the situation. Be sure to inquire of the current owner if he or she is aware of any current problems, or any use of the land that may pose a problem. To completely protect yourself, you may wish to consider having a professional inspection of the property done, particularly if you are suspicious that there might be a problem (for example, the prior owner operated an auto repair shop out of the home and may have dumped hazardous materials in violation of law.)

You should also determine if there are any underground storage tanks or wells on the property that may need attention. Many states have laws requiring the seller to disclose the location of these items. If there is an underground storage tank or well on the property, you should consult with your state's Department of Resources or with an attorney to determine if the system must be abated or if there are other concerns, such as notifying a local governmental authority as to the location of the unit. Occasionally, depending on the type of underground equipment and its prior use, the structure must be removed or neutralized. The expense for such clean up can be extremely burdensome so it is best to spend a little time and effort investigating the environmental condition of the property before purchasing.

The "General Inspection" section of the Home Evaluation Worksheet provides a format for listing the general characteristics of a specific residence. Most of the information to be listed in this section can be gathered on a routine "walk-through" inspection of the residence. There are several exceptions. Information regarding price, assessed value, the age of the residence, lot size, residence size, and property taxes will need to be obtained from the real estate agent, owner, or a local property tax official. Information regarding utilities costs should be obtained from the real estate agent or the owner.

The Home Evaluation Worksheet provides a convenient format for maintaining information regarding the various properties that a buyer may inspect as part of the search for a residence. The buyer can gather information regarding location, style, size, and other features of the various residences. These features can then be compared.

This worksheet also provides an important checklist regarding inspections that should be completed before closing on the purchase of the residence. These inspections include inspections of appliances, smoke detectors, security systems, and heating and cooling systems, as well as inspections for radon gas, asbestos, and termites or other pests.

This program will produce a worksheet that you can take with you when inspecting the property and fill out at that time.

The characteristics of the neighborhood and the proximity of the residence to a job location, school, shopping areas, and medical services may be very important in selecting a suitable residence. The "Location Analysis" section of the Home Evaluation Worksheet provides a format for listing the important characteristics of the neighborhood and the distance of the residence to other locations that are important to the buyer.

1. The Home Evaluation Worksheet is not a legal document and does not require any signatures, witnesses, or notarization.

2. This worksheet can be used by the Buyer to organize personal preferences and to review those preferences with a real estate agent and/or lender.

Zoning regulations are local governmental regulations that affect what activities and uses can be conducted in certain "zones." For example, the commercial area of a city may be zoned "heavy industrial" or "light commercial." In a residential area it may be important to know whether the zoning designation allows rental properties, shopping centers, service stations, or convenience stores to be located in close proximity to residences. In particular, it can be important if there are vacant or undeveloped properties located in close proximity to the residence that is being inspected. The vacant lot next to the residence may be tomorrow's convenience store. Zoning regulations should be available from a local government official or the real estate agent.