Should I get a property inspector

4 Replies

Kevin, I would recommend you have any house you are considering inspected. It gives another set of unbiased eyes looking at it and picking it apart. This really applies to a foreclosure. Were the water lines and sewer lines properly winterized if in a cold climate? What has deteriorated while sitting vacant for years? For the few hundred bucks an inspector charges is well worth it. It also gives you a chance to renegotiate the deal with the seller. Banks a lot of times will not renegotiate though. If the inspector does find something significant the seller then has to disclose to the other buyers. He could find foundation issues or mold that can get expensive. The inspection can be your out if the repairs are greater than you were figuring.

@Kevin Andrews

Any offer you make should be contingent on due diligence and getting anyone you want to help you with this process.

To further @Jim Shepard 's point, we once got a $10K concession from a bank for a broken water main.  The third party report made this possible.

Also, home inspectors will prepare a report that will help you evaluate how to approach the rehab and manage lifecycle issues.

Thanks @Jim Shepard and @William Hochstedler. After viewing the apartment building today, it is obvious that there is probably more work to do then what is in front of my face. Lots of water damage that I can see, wonder what else is behind the walls that I can't see. If I pursue this property I will definitely use an inspector. Thanks again!