Is there a money pit hidden in the dream home you found at a great price? Bargain basement priced homes are almost always sold as-is. This means that you could be assuming hidden repair costs.
Bank owned and short sale homes are usually abandoned. These homes become neglected, and thus more susceptible to damage. There could be electrical, structural, mechanical, plumbing, or many other hidden problems. Most of the problems can be fixed easily if you know about them now. If you wait for them to become big problems then they won’t be so easy to fix.
Even with all the potential problems, it is possible to get a great deal. The surest way to protect that deal is to get it inspected by a professional home inspector. A home inspector will identify the potential problems. The problems will fall into one of these 4 categories:
1. Major defects. An example of this would be a structural failure.
2. Things that lead to major defects. A small roof-flashing leak, for example.
3. Things that may hinder your ability to finance, legally occupy or insure the home.
4. Safety hazards, such as an exposed, live buss bar at the electric panel.
Anything in these categories should be addressed. Often a serious problem can be corrected inexpensively to protect both life and property (especially in categories 2 and 4).
Websites like www.inspectorlocator.com, www.nspectorseek.com, www.inspectornow.com and www.findaninspector.us all allow you to search for certified inspectors. There are important things to know about the inspector before you hire one.
Is he properly licensed and insured?
Does he fill out a paper checklist or generate a report on a computer with color pictures?
Does he have education or experience beyond the minimum requirements? A college education would give him the ability to communicate better both orally and in writing.
Is it a multi-inspector firm or an individual? It will be difficult to view the individual qualifications of the inspectors in a multi-inspector firm. There is no guarantee which inspector you get.
Has he ever remodeled a house?
When you are hiring an inspector, you are not paying for the 3-4 hours that he is there. You are paying for the hundreds if not thousands of hours of education and experience that he has spent gaining the knowledge required to inspect well. You will get what you pay for, so don’t even look at the low price inspectors.
For more tips and an opportunity to get $500 in free gas or groceries visit www.MyPhoenixHomeInspector.com.