Four Point Inspections, very important topic in the Florida Real Estate Industry… and yes, there are red flags which can prevent the homeowner or home buyer from getting insurance until repaired. Red flags such as ” Braided Cloth Electrical Wiring” and ” Federal Pacific Electrical Panels” in the electrical system or ” Polybutelyne Plumbing Supply” in the plumbing system can be costly and unforeseen until inspection! As stated prior, the Four Point Inspection is an insurance inspection in the State of Florida most often on structures 25 years and older. The insurance company wants to know the general condition on the four points, or systems, at hand… those being the Electrical, Plumbing, Air Conditioning and Roofing systems.
The inspector will identify the age and condition of each component within these systems and all will have to be free from visual defect in order for the client to get binding insurance. The customer or representing agent in a house sale should know the four point facts going into the inspection, that repairs will be needed PRIOR to getting insurance. Not only system manufacturers with a history of failure as stated above will need to be replaced ( i.e. Federal Pacific Electrical Panels have a history of heated overload at the circuit breakers on StabLok panels.), but smaller repairs will be requested too such as plumbing leaks or double tapped circuit breakers.
For some reason yet to be figured out we get requests for four point inspections on real estate deals literally days prior to closing when the home inspection was done weeks ago! Then the burden usually falls to the inspection company when everyone involved realizes that repairs are needed one day before closing. ” Why did you not tell us that this was needed to get insurance? “, is usually what the inspector will here. Actually from the beginning of our inspection process we try to educate all involved on the insurance inspections and what we will need to move forward. Many times there is so much going on with a wealth of information thrown in the agent or buyers lap that our suggestions go unnoticed, and understandably so until the point of closing when all is coming together over a 48 hour period. Hence, our blog and recommendations for a smoother deal start to finish!
Now we know going in that a Four Point Inspection will be requested on ALL structures 25 years and older, take time to educate yourself on what will be needed on the Four Point, the major recalls on system brands and the repairs that will be needed after the original home inspection or current Four Point request. Questions? Call me directly at 239.246.9534 for further consultation on the subject, always willing to help!