Out of area investment..inspect or no?

7 Replies

Have a lead on a single family home out of my local area. Pictures and description show it in overall good condition. It is for a buy and hold rental. Would you guys purchase as is or have an inspection ordered before purchase?

I would definitely get an inspection. You can say you will buy "as is" but that just means you won't be asking the seller to make repairs. If there are major problems with the property, you can always ask for a price reduction or back out and I would never buy something I haven't inspected. 

+1 for the inspection!  Had an inspector in Indiana save me 17k and charged $175 for coming out.  Also after I receive the inspection and read it fully, I call the inspector and ask on the level what are the items they would most be worried about when buying this home. Not only do you get to go into the situation knowing as much as you can about this property you might also have a renegotiating point if there is a major area of concern or at least the ability to pull out before you lose your shirt.  =)

If you don't have a line on a good Inspector in that area ask for referrals here and in lieu of referrals use reviews but realize some of them can be bought and EVERYONE has some unhappy clients. I found my Inspector on Yelp in Indianapolis, very highly reviewed, and I felt just as so many others had about the work product received. 

@Justin Tippens Unless you have someone else on the ground there that you trust 100%, I'd say go for the inspection. It is well worth the money to know EXACTLY what you are getting into, as photos can always be taken from very specific angles to make things "look" one way when it's really another, and then you're on the hook, of course.

A lot of sellers for as-is will tell you that the inspection is for your information and benefit only, so keep that in mind when you get the results of the inspection. 

Good luck, sir!

@ Justin Tippens

Trying to buy a home all by yourself without involving any agent is not a good idea. it is better that you find some licensed home inspection company. The process of course is little frustrating but it is better to have it inspected as these firms identify a lot of trouble points.

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