New Found Milwaukee Area Inspection Tip

7 Replies

Hi all,

So I just scheduled a property inspection for a rehab project I'm closing on next week.  When scheduling I got a really good tip from the inspector that I'm for sure going to use in the future.

They offer what they call an "investor Inspection".  The way it works is they actually meet you at the property prior to writing in an offer.  Being that the inspection will be on a house that will be rehabbed they look mostly at high ticket items (roof, foundation, furnace, etc.) and don't spend so much time on the little stuff.  The cost for this is only $145 and allows you to then write your offer with no inspection contingency.

Of coarse you run the risk of not getting the property and being out the $145, but for me I think it will be worth the risk given the better negotiating power it offers you by being able to submit a contingent free offer. 

The company in Milwaukee that offers this is Honest Home Inspection.  For everyone outside of Milwaukee, may be worth calling some inspectors to see if they offer anything like that or would be willing to.

Good morning Sam,

Congrats on your upcoming closing! And that might be one of the best tips that I have heard thus far. Being able to write an offer with no contingencies, PRICELESS!

See you around...

I look at all those items myself before making an offer -- roof, furnace, foundation, water heater.  The real inspection is only about $100 more so I would prefer to just do that.  

Even if you have no inspection contingency, doesn't mean you can't have an inspection done.

Thanks @Sam Erickson  , that is good to know it is an option.

Just food for thought, I mentioned this idea to an excellent home inspector I know in the Milwaukee area.  He said he would be willing to do something similar, but he emphasized to me that it was just consulting, and definitely not an inspection.  He explained that without an offer the permission would not be there for him to be able to do all the testing that comes with an inspection.  So the information you would have to base your offer on would be less than that which is obtained through an inspection.

I mentioned the idea of waiving the contingency to a Realtor I know who deals mostly with investors.  She said she just wasn't seeing people doing that on offers.   So I would be careful, you don't want to lose the protection this offers if it is not important as a competitive advantage in your market.

Dawn do you have the same ability to assess issues and offer remedies as a professionally licensed home inspector?

Originally posted by @Steve B.:

Dawn do you have the same ability to assess issues and offer remedies as a professionally licensed home inspector?

No I don't, and that's why I said that for only about $100 more I'd prefer to do just that, meaning, have a professional inspector.  I've viewed so many properties by this time I have a good eye, but it's worth the money to hire someone who's been doing this for as long as I've been alive.

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