Home Buying in South Holland>Question Details

Mcchriston, Renter in South Holland, IL

How can I get a home appraised and inspected that I am renting?

Asked by Mcchriston, South Holland, IL Fri Jul 16, 2010

I am renting a home, now the owner wants to sell to me but, I need to know that I am not getting screwed with his offer. I know some of the updates and repairs that are needed but I am not sure that the 20% he will give me will cover the work.

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Answers

2
What you can do is have a Home Inspection completed, and either have a realtor complete a CMA (which is less expensive) than an appraiser. Send me an e-mail if you would like for my company to complete one for you? My e-mail is turent7788@yahoo.com Also, sign-up for the next “Things and Careers to know to Make and Save Money”.
0 votes Thank Flag Link Tue Jul 17, 2012
You can certainly hire someone, however if you do not own the home you will want permission from the owner for any of this to be done in writing. My thought is why would you want this on a rental home. If you are doing this to purchase then you are going about it backwards. It is the lender that will need to order the apprisal once a request is being approved for a loan for the home to be purchased. Once you enter into a contract to purchase then you want to have an inspection again the seller has to agree.

If you are looking to purchase, your realtor will assist you with all of this and help you and should be making sure you look at all the same price group choices to make sure you have made the decision you feel is best for you. I have know many who do not go this route and then find out all the other possibilities they could of had and have buyer's remorse.

Hope this is helpful.

Deborah Rigsbee Miller, Real Estate Broker
Coldwell Banker HPW, Durham, NC
919-491-2826
0 votes Thank Flag Link Fri Jul 16, 2010
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