So, In my contract it states that I can opt to have a property inspected prior to closing. Right. So my question is: Can I have my friend who is an licensed and insured contractor "inspect" the property on my behalf? If I find out that I'm in over my head, and with the right contingency clause in place, can I get out of the contract or does (by law) the property need to be inspected by a licensed home inspector? By the way I would be wholesaling if thats not clear.
This is not state specific to Missouri but at least in MA where I am the inspection does not have to be completed by a licensed home inspector. You could call your brother to do the inspection even if he was a server in a restaurant as long as you trusted him as an adviser. You would complete the inspection and then decide to go forward or not based on the results. Do you have a buyer in place to take over the contract? Just be sure you are able to get back any deposit money in the event you opt to back out of the deal.
I know this sounds crazy but, I'm building my infrastructure at the moment to ensure efficiency. Which is why I asked the question. I have buyers to answer your questions, but I was asking for future reference. I'm currently structuring my website, database, logo, etc. You get the picture. I have about a week before I'm really ready to do some serious shopping and marketing to buyers. My system thus far has generated great leads so I figured I might want to establish a brand along the way.
In Louisiana acceptable inspection is written in the Real Estate Commission's required buy-sell agreement, and makes no mention of inspector certification. Perhaps it's the same in the state you're looking to buy in. Most states have the Agreement on their Commission's website.
You know I was actually thinking I can just black out the section in the contract that states "inspection shall be completed by a qualified inspector..." I can do that right?
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