OfflineRetaining the services of Licensed Professional Engineer (P.E.) home inspector can translate into big savings at the closing table. First, you need to be sure that you retain the services of a qualified professional who can identify subtle defects that are not readily visible to the typical home buyer. Buyers who inspect their prospective homes by themselves are rarely qualified to conduct a thorough home inspection and even if they have a good knowledge base to work from, they are too emotionally involved in the purchase and are usually blinded by the glitter of the cosmetic issues.
Buying the home of your dreams usually consumes all of your available resources as well as everything you can borrow. You sure don’t want to wake up to an unexpected $3,000 repair bill for a new heating system three months after you move in.
Identifying subtle defects before you sign a contract can translate into a reduced selling price, or repair of uncovered defects at the sellers cost. And don’t believe that the seller is offering the house “as is”, there’s always room for negotiation. Of course, there is a limit to what any inspector can uncover because home inspections are visual investigations and destructive probing is not the standard of practice in the industry. However, there may be times when destructive probing may be recommended by the home inspector and this must be undertaken with the seller’s approval. The purpose of a pre-purchase home inspection is to reduce risk to the buyer, the visual inspection can not eliminate risk.
It is important to accompany the home inspector during the home inspection because one picture is worth a thousand words and there’s a unique opportunity to learn about the home; the home inspector will be sure that you are not blinded by the glitter. Familiarize yourself with the following top ten list and you will have an idea of what your home inspection engineer should be looking for.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
cmitchell,(coach)
Great info on being careful when buying property,The things you can not see can and will bite into someones budget.But most of all allow someone to get deep discount in the same process,Finding what is not seen!!!
Invest in yourself!
This has always been a good idea in the 4 houses I've owned in the last few years (*unfortunately not following Dean's advice and buying with the old thought process....buy and hold for 30 years*) - usually they can find something that does not meet code or is an issue and many times suggest someone local who can do an estimate for reparis. I've been able to drop the price a bit through this process a couple times, couple times during sellers markets it really didn't matter too price wise when I was buying. Have always found it interesting that many people have a "buddy" who happens to do framing or welding come over and do the inspection. This usually causes the agents to raise some eyebrows. Another thing to think about (and no one likes to think about it but its happened to me) is litigation. A bonded and certified home inspector is worth it when you are selling especially. In a down market/area I used a certified inspection service when selling and they got me out of a tight spot when the purchaser tried to sue for mold later. Thier inspection showed no signs of mold and we were able to get out of a larger portion of what the buyer was trying to sue us for.
Warmest regards,
Jon