A “four-point” inspection focuses only on four areas of interest in a home, thus the name. It is used to validate an older home’s condition prior to a lender authorizing the release of funds. The concern for lenders is that certain systems and structures of the home may be approaching (or have exceeded) their service life. In such cases, a four-point inspection helps lenders to validate whether they will, or will not, release funds to the buyer.
The four areas of interest are:
- HVAC (Heating, Ventilation and Air Conditioning)
- Electrical wiring and panels
- Plumbing connections and fixtures