Buying Real Estate without knowing the property's true condition can be a huge mistake.
In spite of numerous consumer
affairs articles published over the years, many people still make the mistake of buying
real estate without having it inspected. Hire a professional home inspector. Not just a
local builder or electrician. Get a report on the condition of the home or condo and the
systems in it. (Review the link on the main page for a list of inspectino companies)
If there are problems then you should:
1- Ask the seller to fix them.
2- Ask for a suitable price reduction.
3- Find another Property.
A qualified inspector routinely evaluates all visible building components, from the roof
to the foundation, including the plumbing, heating, and electrical systems. Also covered
are fireplaces, built-in appliances, drainage conditions, overall safety, and much more.
Considering the high cost of real estate today, an inspection fee is a small price to pay.
It can save thousands of dollars and years of regret. A thorough inspection can shield you
from costly discoveries after the close of escrow. It's one of the best consumer
protection services available.
Every home or condo, regardless of age or quality, harbors a small, medium, or large list
of defective conditions; some obvious; some only apparent to those who know how and where
to look. When you hire an experienced, qualified home inspector, there is no question as
to whether unknown defects will be found; but rather what, where, and how serious,
dangerous, or expensive the defects will turn out to be.
Most buyers spend 30 minutes to an hour walking through a home prior to making an offer.
At best, this provides a general impression of the overall physical condition. But what
about foundations and structural framing, attic construction, insulation, ventilation, and
roof conditions. These are just a few of the hundreds of considerations included in a home
inspection.
Above all, let's not forget building safety. An inspector can alert you to red flag issues
involving the electrical wiring and fixtures, fireplaces and chimneys, gas fixtures such
as furnaces, water heaters, cooktops, and ovens, railings at staircases and decks,
tempered safety glass in required locations, and automatic reverse of garage door openers.
Furthermore, an inspector can forewarn you of problems involving faulty ground drainage,
defective plumbing, substandard construction, firewall compliance, building settlement,
leakage, general deterioration, inoperative fixtures, and so much more.
A Real Estate Agent understands this process and the importance of equipping the Buyer to
make an informed purchase decision. An Agent should be working to protect your financial
interests. With a detailed home inspection, you will know what you are buying, before you
buy it. And that could save you thousands of dollars and years of regret.
Condo inspection fees vary. The price of a quality inspection generally falls between $250
to $400. Real Estate is the most expensive commodity you are likely to purchase in a
lifetime. One defect missed by your inspector could cost 100 times what you save with a
bargain inspection. The best method of price shopping is to shop for quality.
Ask the inspection company how soon
they will supply you and your real estate agent a detailed report. You might also
consider to hire an inspection company that also will perform the termite inspection at
the same time.
A sellers disclosure and condominimum documents should be made available to you before you
make an offer on any Tampa Bay Condo. Even though you may have a sellers disclosure that
states there are no defects, an inspection by a licensed professional is highly
recommended. Your real estate agent should provide you with a list of at least three
inspection companies for you to choose from.
An inspection is a third-party evaluation of the accessible structure and mechanical
systems of a condo, from the roof to the foundation. The typical cost usually depends on
the square footage and ranges from $250 to $300.
The standard condo inspector's report will include an evaluation of the condition of the
condo's heating and cooling system, interior plumbing and electrical systems; the roof,
attic, visible insulation; walls, ceilings, floors, windows and doors and visible
structure.
Hire a professional home inspector. Not just a local builder or electrician. Get a report
on the condition of the condo and the systems in it. If there are problems the sellers
should typically fix them, as stated in the offering contract you submitted. Typically the
seller is required to pay up to 1.5% of the asking price for repairs. It is negotiable in
the contract. Make certain you are being represented by a licensed real estate agent or
attorney who will prepare the contract for your protection |
