New federal law now makes certain that FHA homebuyers know the importance of a home inspection prior to purchasing. This move toward intensified "home inspection awareness" has been praised by legislators and real estate professionals alike.

A-Pro, the largest home inspection service in Greater New Orleans, has been keenly aware of recent legislative developments, along with recent trends that make this a perfect time to explore opportunities in becoming an A-PRO franchisee.

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ABOUT THE PLAN

The Homebuyer Protection Plan, which was proposed by the Department of Housing and Urban Development to assure the quality of FHA properties, requires real estate agents to have the homebuyer read and sign a form detailing the importance of having their home inspected for defaults prior to purchase. The new form, which must be used for all cases that obtain new FHA case numbers ordered on or after August 1, 1999, also clearly delineates the differences between an "appraisal" and a home inspection.

The Homebuyer Protection Plan will have an even greater impact on property appraisers, who now must perform their evaluations based on a revised FHA Appraisal Handbook, and complete a new Homebuyer Summary form which notes problems with the property that would prevent it from meeting FHA "minimum property standards."

The new form, revised from the "Importance of Home Inspections" disclosure form in effect since Dec. of 1996, should give FHA buyers a more definitive picture of why they should have their homes inspected before purchasing. The form has been called an "educational tool" that alerts FHA buyers that there may be problems with a property that are not readily visible to the untrained eye.

It has never been easier to own a home inspection franchise. A-Pro provides you with everything you need to be a success: training and certification, proven marketing materials, professional report software, on-going support and other benefits.

LEGISLATIVE BATTLE ENDS IN A COMPROMISE

Real estate, appraisal, and home building interests waged a hard-fought battle to arrive at this current legislative compromise, claiming early drafts of the plan would disrupt the FHA transaction process, pose liability risk to appraisers, and cost borrowers additional money. Introduced by HUD in June 1998, the law arose out of criticism that substandard appraisals were a main factor in the number of poorly conditioned properties and homebuyer defaults on FHA-insured properties. Early proposals called for "mandatory" home inspections of FHA properties -- an item that was eventually deleted from the current law. While the legislation stops short of mandating that FHA home buyers have a home inspection, it does send a clear message about the importance of home inspections in the buying process.

Additionally, HUD is permitting the cost of the inspection, up to $300, to be counted as part of the homebuyer's required minimum down payment.

WHAT DOES THIS MEAN FOR YOU?  HOW ABOUT A GREAT OPPORTUNITY TO JOIN THE A-PRO TEAM!

If you are a home inspector, the Homebuyer Protection Plan provides yet another opportunity to reach real estate agents with an important message: home inspections are a critical part of the home-buying process.

In light of federal scrutiny of FHA properties, real agents will increasingly turn to the most respected names in the home inspection field to ensure that thorough, comprehensive inspections of FHA properties are performed. Putting the A-PRO name behind your home inspection business gives you immediate recognition, plus marketing, technical, and other support systems to make sure you capitalize on the growing number of home inspections that will be performed into the new millennium.

While FHA homebuyers are not required to have an inspection performed, this new federal law will most definitely increase the number of home inspections performed nationwide. A-PRO is here to help you take advantage of this significant development.

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