Buyer not present at home inspection?

Question

My offer was accepted by the bank. I've been inside the house three times now. To my amateur eyes,the property appears to be in very good shape except for some cosmetics, the electricity and water are turned on and worked.

The bank is only allowing a 7 day inspection period, and as luck would have it I'm going out of town (driving trip) for the Christmas holidays. My realtor said I could schedule a home inspection and she would let the inspector in. But are there any concerns about me not being present during the inspection? I was there during the inspection of my own home. The other option is scheduling the inspection on the second to last or last day of the 7 day period, when I'm back, but I'm concerned that I could be cutting it too close if I have some car troube on the trip, or the inspection co. has to cancel for some reason. Thanks

Account Closed · Answer

Do you have a home inspector that you've used before?

I'm always there for the inspection, but I think that what is "normal" is for the buyer to simply depend upon the inspector. The buyer doesn't normally go for the inspection.

When I am selling, I will be there for the inspection and I have never had a buyer turn up to watch.

If you know your inspector and trust him, it should be OK to leave it to him. He'll be used to doing inspections without the buyer there.

Bienes Raices · Answer

I was able to attend the inspection myself after all. Thanks for the advice.

Eddie Ziv · Answer

I just checked one of my contracts and it says as following:
"Buyer agrees that these inspections shall be made at Buyer's own expense and all such inspections shall be completed within 7 days from the execution of this Counterproposal by the Seller"
In this case, I would send a formal letter to the seller stating that your interpretation of this clause is 7 business days.
BTW, if you received a contact (or addendum) that it yet to be signed by any party, you have the right to change it. If you have a PDF editor you can change it yourself. It becomes the seller responsibility to read it again before they sign it and make sure that it is the way they want it. Unfortunately (for them ) and fortunately for you, they usually don't read it before signing it. For some reason (I guess their experience) they assume that the buyer would not change it prior to signing.
I've done it twice before. Removing words like "quit claim" and adding the word "only" next to "special warranty deed". I changed closing dates, etc. They never caught it before signing.

Eddie Ziv · Answer

Bienese, don't ask the bank! Look at the contract and see what it says!! If you ask, they'll give you the answer you don't want to get. If the contract says "seven business days" then it is. if it says "seven consecutive days, then it's not. If it only says "within seven days" it can be open to interpretation.

Bienes Raices · Answer

We're trying to find out from the bank if it's seven business days to do the inspection, or just 7 days. If it's the former, I may be able to be present. At this point I've sort of done my own mini-inspection (I've been in there several times), so I have an idea of what's wrong, although I'm no inspector.

Jordan Profitt · Answer

I definitely like to be there during any inspection I have gotten done. But if you trust your inspector and he/she uses a very informative report, as all mine have in the past, not being there should be no problem.

Eddie Ziv · Answer

With REOs you're lucky to have 7 days. Most of them insist on 5 days (At least in my experience and my investors'.
So far, I bought four houses cash and I've been to non of the inspections. I would have I liked to be there, but I wasn't ready to fly from L.A. just for that. I had my agent there (Which is as good as nothing) but I also, don't rely on the inspection that much. I find most of their reports useless for REI. They are good for home buyers. I don't care if a door doesn't shut properly but if six doors have such problem, that might means bad foundation which most of inspectors would not mention, but rather refer you a foundation expert. Same with HVAC, etc. I rely more on my PM who does those inspections and is not restricted as your "run of the mill"  home inspector.

Bienes Raices · Answer

we tried to get 10 days, bank wouldn't allow it

David Valley · Answer

You should have gotten 10 days for the inspection period.

I like all my Buyers to be present on my home inspections, but if you absolutely can't make it, have a relative be there for you.

You can also book the home inspection on the 6th day of your inspection period, because your home inspection will point out issues that you can negotiate with your Realtor on the 7th day.

Good Luck.