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About That Property Inspection |
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About That Property Inspection…
Have you been informed that if you wave your property inspection rights and forego having a property inspection that you have very little chance of ever recovering any losses due to defects in the property (unless you can prove seller fraud)? Would you rather know up front what you are buying or do you prefer surprises in the middle of the winter when the heater blows up.
Recently we have had property inspectors tell us of different types of problems over and above the normal items found in home inspections. One property inspector informed us he had found cement poured down drain pipes and left to harden. How about the Heating System, looked fine from the outside although when the panels where removed all of the internal systems were gone. What about the electrical system that had the wiring polarity reversed and fried the wiring when the power was turned on.
Sometimes you need to look beyond the surface of a home in order to determine exactly what you are buying. First you must have the utilities on before you can perform a reasonable inspection of the property. Without the utilities you’ll never know if the drains work, or the oven or even if the heat exchanger is cracked. What about the septic system, if it is found not working after you move in, it could cost you $3-5,000 just to get started on repairs.
Some banks and agents in The High Desert are discouraging property inspections by not allowing contingency periods or if they do they are very short. Even if a bank has no contingency for repairs get The Property Inspection Anyway!
Funny as it may sound, some defective items, like leaking roofs, broken windows, defective or broken furnaces quite often will be repaired or fixed if you ask or your new lender may require it before closing. Health and Safety items are the normal clue as to whether or not the item will be repaired. To take it one step further, you now know the condition of what you are buying and if the repairs or problems are too extensive, you can always choose to walk away or negotiate for your deposit back.
I encourage you to get that inspection, push your agent to do the right job for you and negotiate for the needed time. If the seller refuses, get the inspection anyway no one can tell you can’t inspect the property and if they do… find another home, chances are they are hiding something. Remember, if you choose to pass on the inspection you only have yourself to blame.
This article was written for The High Desert areas of Southern California and for the buyers market that exists at this time. While the fundamental are solid for most normal markets I have seen Seller Markets and Multiple Offer situations that require more aggressiveness on behalf of the buyer.
Questions about property Inspections?
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