Buying a Home -- Is a Home Inspection a Good Idea? by realestatetips4u

VIEWS: 16 PAGES: 2

More Info
									                    Discover 101 Amazing Real Estate Tips and Secrets



          Buying a Home -- Is a Home Inspection a Good Idea?
To avoid “buying a pig in a poke,” buyers have long demanded the closing on a home
purchase be contingent upon a satisfactory inspection by a home inspection firm. In many
parts of our country, we’re now experiencing a strong sellers’ real estate market and sellers
often receive more than one purchase offer on the same day for their home. In this
environment, buyers are rethinking the home inspection requirement. Is this a good idea?

To Inspect or Not To Inspect

Clearly, if a seller got two offers and one requires a home inspection be done, most sellers will
choose the non-inspection offer with all other things being equal. So, a home inspection
requirement can put you at a competitive disadvantage. Still, are you willing to risk purchasing
a home that has some fundamental, expensive problems? What if you purchase the home and
subsequently learn plumbing under the floors must replaced? What if the repair costs
$10,0000?

One option may be to include a provision in your purchase offer that provides for a home
inspection done for informational purposes only. That way, settlement under your offer is not
conditioned upon the inspection. It would not provide you with the option of amending the
contract to have the seller make repairs, nor would it provide a way for you to void the contract
should serious problems be uncovered. Should serious problems be discovered, however, the
seller is bound to know the deal will be in jeopardy. For that reason, even an “informational”
home inspection won’t look as good to her as a contract with no requirement for a home
inspection.

Another option you might consider in lieu of a home inspection is a sub rosa inspection.
Instead of using James Bond for spying, you could ask a friend working in the construction or
engineering field to walk through the house with you. The goal, of course, is to look for any
glaring “red flags” that are deal killers.

If your friend doesn’t see anything disturbing, you can then write a clean contract offer without
contingencies. Sellers love no contingency sales. The chances are good that you’ll get the
home you want, but still have a some assurance there isn’t anything seriously wrong with the
property.

There is no one right answer when it comes to deciding on home inspections. Each buyer has
to ask himself how much risk he is willing to take. If you are the only party making an offer,
demand an inspection. If you are one of many potential buyers, well, you are going to have
determine your comfort level. Others can provide information, but the decision is yours.




© Copyright: All Rights Reserved '          Discover 101 Real Estate Tips To Boost Your Profits
                     Discover 101 Amazing Real Estate Tips and Secrets




  * * * * * * * * * * * * * * * * * * * * * * * * * * *
Did you enjoy my above article..?, then please share it.
...Please share this report with your website and blog visitors, friends, family or anyone
else you feel like. You can also pass this on to your email subscribers, and your Twitter
followers, Facebook etc..

I have also prepared some powerful tips “101 Real Estate Tips And Secrets” which shows
you 101 powerful Real estate tips which can help you build your real estate portfolio.


Read my tips “Discover 101 Amazing Real Estate Tips To Boost Your Profits ”

Click here to read it.



                                 Remember:
 Please share this document with your website readers, place it on your blog,
 share it with your email subscribers, and your Twitter followers + Facebook!




© Copyright: All Rights Reserved '        Discover 101 Real Estate Tips To Boost Your Profits

								
To top