Verification Inspections

Inspector Tom has been busy lately with Insurance Verification Inspections. Insurance verification inspections are just as they are described. We "verify" that what the insurance company is insuring is actually at the site. These types of inspections can be completed on one piece of leased equipment or on a building as large as a covered mall.

As you know, the home mortgage industry has taken a large punch in the gut over the issueing of mortgages that had no hope of succeeding to maturity. As a result the entire industry has suffered. I am commenting on this today because we in the Inspection industry have also taken a hit. This is however, a very good time to buy a house. The surprising part of all this is that the interest rates have not changed much at all.

The price of gasoline has driven everyone to seek housing closer to their place of work. Inner-city housing is becoming very popular and developers are scrambling to find buildings to renovate in the inner city. Abandoned areas of large metropolitan areas are becoming once again populated. It is a real migration from the suburbs back to the urban area.

I look forward to doing inspections for insurance companies who are tied with urban developers and inner city real estate sales. I can see a whole new market exploding. The inspector who does not want to conform to the different housing choices in the inner cities will be missing the boat.

Keep your eyes open! Look for future developments to happen inside the city, not in the suburbs.

Until next time-Inspector Tom

10 Steps to Hiring a Service Professional

Before hiring any service professionals there are several procedures that you should perform. The following are just a few:

10 Steps for Hiring Service Professionals

#1. Confirm the salesperson works for the company.
·	Verify that the individual with whom you are speaking is an authorized agent of the company.
#2. Ask for a copy of the company's license.
·	Ask the company to provide a copy of their license. It is important that you verify the license is still in good standing. Be aware that certain states licensing requirements are based on dollar amounts and not project type
#3. Ask for proof of insurance.
·	Ask the company to provide a copy of their insurance certificate. We recommend that you verify with the insurance agency or carrier that the policy is still in good standing. General Liability insurance generally covers a contractor for accidents that occur while the contractor is working, however there are exclusions to coverage, and you should confirm the actual scope of the contractors coverage directly with the contractor.
We recommend that before working with a service professional, you verify that information presented is still current and/or acceptable to you. We recommend that you obtain a copy of the service professional's insurance certificate where applicable.
#4. Finalize the contract before starting on a project.
	A good contract...
·	Should be written on company letterhead.
·	Should contain the company's name, address, phone numbers, and license number (if applicable).
·	Should contain the consumer's name, address (where work is to be performed), and phone numbers.
·	Is dated when it is written.
·	Includes a detailed description of the work that is going to be performed.
·	Provides dollar amounts associated with each task included in the project.
·	Includes an anticipated start and finish date.
·	Provides a payment schedule.
·	Includes a termination clause.
·	Contains a clause that protects you the homeowner from any potential mechanics liens once you have paid the contractor in full.
·	Clearly states whether permits will be pulled, and who will be responsible for pulling them.
#5. Make payments to the company that was referred.
·	Do not pay an individual.
#6. Avoid paying with cash.
·	Check and credit cards are preferable, and be sure to get a receipt for all payments.
#7. Withhold final payment until you are satisfied with the project.
·	Don't pay in full until the project is completely finished and you have completed your final inspection.
·	If subcontractors were used, be sure to get signed releases from all sub contractors clearly indicating that they have been paid in full by the general contractor.
·	For larger projects, don't make the final payment until you have passed the final building inspection.
#8. Don't advance money for materials.
·	If absolutely necessary, make sure the materials are delivered to your house with a receipt showing that they have been paid in full.
#9. Check multiple references.
·	In addition to reading the company's ratings & reviews, consider checking additional references for the service professional.
#10. Document all changes to the contract.
·	Make sure all changes to the original contact, no matter how small, are documented and signed off by both parties.