Inspection already done

7 Replies

Hey everyone just had a quick question I’m looking at a property and the agent says the inspection has already been done and is going to send me a copy of it. Basically my question is should I go off that inspection or get my own done through another company. Thanks everyone for the feedback ahead time

@Howard Thomas

Assuming it is a licensed inspector, they have standards they must abide by in their preparation of a report. With that being said, if you didn't pay for the report, if there was some type of error or factual misstatement, you don't have a leg to stand on with the inspector. I wouldn't be overly concerned, but if there is something alarming, get a contractor or specialist in there to check it out. 

I would still exercise my right as the buyer to have my own inspection done. You will have to pay for it but it will give you peace of mind. Unless you’re really comfortable assessing home conditions, don’t take the risk.

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@Mason Hickman When the duplex next door to me came up for sale at $199,000 I looked at it and said it’s too expensive and needs work. It went under contract and fell through after the inspection. Price dropped to $179,000. It immediately went under contract again. Fell through again. Price dropped to $145,000.

My realtor said let me show you the inspection report the original buyer made it available. There was some stuff on it, a little electric, some caulking on the roof, but the kicker was that it said the building needed to be jacked up and have a poured foundation put in and the estimate the first people got was $75,000.

I brought in a well known foundation expert and they looked it over and told me that yes the ground has heaved due to cold winters but there’s no damage to the foundation, just sloping floors. No cracks in walls, dragging doors etc. He told me how to prevent further damage and it would cost less than $8,000.

I accepted the rest of the inspection report because my contractor looked over the property and didn’t find anything else.

I offered $100,000 due to the “need for the $75,000 foundation” which the sellers didn’t know had been dispelled. We settled on $105,000 as they had a $99,000 mortgage.

I’d definitely recommend having someone in the trades look at it, but if there’s no glaring issues it might be ok.

@Howard Thomas This is an interesting one. I've had listings where one buyer gets freaked out or wants to drive down price about little stuff so they go find what seems like the most expensive bids on the face of the earth. I just laugh when the buyer's agent presents the fantasy bid and "expects" the Seller to agree. Yes defects become identitified, but many can fix lol. So what if it drops out of contract. And then sometimes another buyer wants no fixes lol. It all comes back to how bad someone wants the house. I.e. I had a listing last year where buyer wanted $75k in repairs. Seller said ok to $7k. It still closed with same buyer. Funny. I had another where buyer wanted $6k on repairs, they got $$6k worth, except the price went up $4k. Or another where buyer presented a $50k bid for repairs. It fell out of contract. Seller spent $2k on repairs they felt important. Next Buyer wanted no repairs, just closing costs. Wonders never cease.

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