Rentals in 19121>Question Details

Franklin Ari…, Home Buyer in 19154

Inspection

Asked by Franklin Ariwodo, 19154 Mon Oct 25, 2010

Does anybody anybody know if an inspection of a property before purchase would tell me how much it would cost to correct the flaws in the property before the purchase? if so, how accurate are their estimates?

Thanks

0 votes Share Flag Rentals in 19121

Help the community by answering this question:

Answers

15
Inspectors are a third party and not in the business to do repairs so many times they won't even offer an estimate for the repairs. The best thing to do is to ask your agent or others that you know for names of contractors who specialize in the type of work that needs to be done. It doesn't hurt to ask for a few days longer on your contract for your inspection objection deadline, if necessary, in order to get estimates on the work to be done. If your inspector and realtor both agree on an approximate amount, just go with that. It doesn't have to be right on the money, just a close estimate is normally good enough to negotiate with the seller for a settlement.
Hopefully you trust your agent to get approximate costs or contractors to give you estimates. Let us know if you would like more information.
2 votes Thank Flag Link Tue Nov 2, 2010
I have worked with Cinnmon several Times and can tell you from an unbiased perspective that she is an excellent Realtor.

As an inspector, we provide you with an accurate picture of issues that need to be addressed, and can offer some guidance with cost, but your realtor is the best person to help you with how to negotiate the estimates we provide you with.
1 vote Thank Flag Link Mon Nov 29, 2010
Hi, Franklin. As the others have suggested, many inspectors will provide a cost estimate for you (myself included). Often this is in the form of a general ballpark estimate, on a wide variety of topics, but perhaps not your specific issue or issues.

For this reason, I like to add cost estiamtes individually, per item identified. This allows me to personalize the estimates to account for things like additional materials, cases where either repairs or replacement may be an option and estimates fror each are helpful, and where complicating factors may exist . Of course, you also get the standard "guide" with per unit pricing.

I like to use several different sources to try to keep my estimates current - one guide based on national average (the way US Inspect's is), a network of several local contractors that I deal with regularly (for techinical answers, pricing, and advice on best practices to solve tough problems), and personal experience. Costs for both labor and materials have fluctuated significantly in recent years, so you are best off getting at least 3 estimates from contractors if you need a rock-solid number.

If you are just using it for negotiations or ballpark budgeting, these quotations should prove helpful. I am always seeking ways to tailor our inspections to each client, and meet their specific needs. Individual price estimates for each item called out for correction is a good way to do that.
Web Reference: http://www.SherlockHI.com
1 vote Thank Flag Link Mon Nov 15, 2010
An inspection can give you an idea of what to get estimates on, however most inspectors are not contractors so getting an estimate from them might not be in your best interest, if they are willing to give you an estimate at all. I usually have a contractor I can call on the phone for obvious things the inspector points out, that way by the time I get the completed inspection sent to me, I've already got estimates in line for the major flaws that need fixing. This eliminates the need for a contractor to go in at a later time, and speeds up the process.

Hope this helps,
Kevin
1 vote Thank Flag Link Tue Nov 2, 2010
Hello Mr.Ariwodo,

Be very wary of inspectors that also want to be your contractor; unless they are someone you trust, there could be a conflict of interest.

It is best to get your inspection and then, while still in your inspection period, have contractors that specialize in their fields come out and give you estimates.

Best of luck to you,
Trevolyn
1 vote Thank Flag Link Mon Oct 25, 2010
Hi Franklin,

As a home inspector I have worked in my area long enough to have a good feel for the local costs of most projects. According to ASHI standards we are not required to give estimates but most inspectors want to help. We do not give estimates as such , such as might be used in a settlement escrow for seller repairs, contractors should be used for this) but buyers need to know basic cost range to make an informed decisions, such as, is this crack repair going to cost a couple hundred or several thousand or about how much is the roof going to cost to replace. I like to provide these "estimates" so buyers can budget the purchase with repairs. I also proved ideas on what on expenses are going to likely come up the first three years of ownership for this budget.

As also an appraiser we can do valuations of the house before and after the renovations to better judge the return on the investments. I see many “investors” barely break even on flipping homes – underestimating renovation costs and overestimating sales price – good cost estimates are very important here.
0 votes Thank Flag Link Thu Feb 17, 2011
Always get a contractor to provide actual cost estimates if the home inspection reveals any major deficiency. Now that I've said that, I'm sure some of you will go it alone and rely on the home inspection report as an important factor in your purchase decision and the inspectors cost estimates will factor into that decision. It happens. So here are some things to consider. If you are going to rely on construction costs provided by your home inspector, be sure that the home inspector has:

1. Spent time as a contractor in the city where the home is located. Costs vary significantly across the nation!

2. Experience estimating projects very similar to the one that will be required to correct a deficiency noted in the inspection report. It does you no good if your home inspector has spent time as a licensed roofer and is offering cost estimates to correct a flooring issue.

3. Current knowledge about modern building methods and trends in your area.

Good luck!
0 votes Thank Flag Link Sun Jan 23, 2011
An inspector will tell you what is wrong, but may or may not tell you HOW MUCH it would cost to repair. I would seek estimates from contractors, after getting the home inspection done.
0 votes Thank Flag Link Wed Dec 1, 2010
You should obtain a home inspection. If there are items that need repair or replacement most realtors can give you a list of contactors that can give you pricing.
0 votes Thank Flag Link Mon Nov 29, 2010
Normally the Inspectors are giving you their opinion and have researched the cost to do most repairs.
You have Inspectors that actually go to Home Depot, Lowes and other home improvement stores to actually get the cost of the actual items for repairs. The estimate on the labor varies based on the person doing the repairs. It is always a good idea to go to the home improvement stores in your area to see how much the items you want to repair of replace actually cost then check around for the labor cost.
0 votes Thank Flag Link Mon Nov 15, 2010
Here is a blog I wrote on inspections.
Get that home inspection before you close on a home
When it comes to things you need to do before buying a home, a professional home inspection tops the list. After you have signed a contract and it has been accepted by buyer and seller, you need to schedule a home inspection. Be sure that your contract indicates that the purchase is pending the results of a home inspection.

There are many home inspectors around. You can ask a friend, relative, or your Realtor for recommendations. Also search the Internet for local inspectors. The inspection should be completed by a certified or licensed home inspector. The cost is anywhere from $250 and up depending on the size of the home and the type of inspections performed. Also, plan to pay for this out of your own pocket up front as the buyer.

The purpose of the home inspection is to determine if the home has any potential or existing problems. It also gives you peace of mind knowing if there are any issues before you buy. You should be at the inspection with the inspector. The inspector can show and explain any problems that might be harder if you only received a written report. Most inspections take at least an hour and sometimes longer. In addition to seeing everything first hand with the inspector, you generally receive a written report with photos following the inspection.

What is typically included in an inspection? A home inspector will check the home structure, the water situation, as well as heating and electrical. You should also plan to get a separate termite and wood destroying organisms inspection from a pest control company. This is usually done for free and can be scheduled at the same time as the home inspection.

In Florida some other inspections that are offered are homeowner insurance inspections such as a 4 point insurance inspection, roofing certification inspection, and a wind mitigation inspection. These may have additional costs.

After the inspection is complete you can determine if you still want to go ahead with the purchase of the home. If there are problems that are too costly, then you can terminate the contract. An inspection can save you several thousands of dollars down the road, but again it also gives you peace of mind.

Tammy Hayes, Realtor, Sandals Realty, Punta Gorda, FL - tammyhayesre@gmail.com
0 votes Thank Flag Link Mon Nov 15, 2010
Hi Mr. Franklin,

How are you? Thank you for your inquiry. I agree with Alice. I have been recommending U.S. Inspect to all of my previous buyers and they are all very pleased with the service and knowledge that were provided. I have used them in my own home purchase as well! They are very thorough and take many pictures to include in their reports. They also walk around and give you many recommendations on how to maintain and repair certain things as well.

I really like their analysis report of the home inspection because it breaks everything down into details with range of costs that are associated with each maintenance or repairs that are required. By doing so, it helps to provide my buyers with an idea as to how much are the total costs of repairs that they will incur if they buy the property of their choice or they could counter with an offer due to the Home Inspection Contingency.

My buyers and I are very pleased with their service that they provided. Here is their contact information if you like:

Steve Haslam
U.S. Inspect
Building Consultant
Business: (888) 874-6773
Business2: (877) 211-5723
Fax: (877) 874-8038
Email: shaslam@usinspect.com http://www.usinspect.com

***** If you like the answer - please consider giving it a Thumbs-up & making it a "Best Answer" ! Thank you! *****

Best Regards,
Phong Lam, CSM
REALTOR®
CENTURY 21 Advantage Gold
2010 Oregon Avenue
Philadelphia, PA 19145
Business: (215) 465-1400, ext. 508
Fax: (215) 336-7793
Mobile: (267) 918-1880
Email: Phong.Lam@c21ag.com
http://www.c21ag.com
Professional Profile & Testimonials: http://www.linkedin.com/in/PhongDucLam
To connect with me: http://www.retaggr.com/AddMe/PhongDucLam
Buyers' Info: http://www.facebook.com/TriCountyPhiladelphiaHomebuyers
Sellers' Info: http://www.facebook.com/TriCountyPhiladelphiaHomeSellers

Century 21 Advantage Gold Top 21 Percent Award for 2009!
A referral from you would be the biggest compliment you could give me!
If you're interested, please ask me for your FREE Local Market Report for home values in your area!
0 votes Thank Flag Link Tue Nov 2, 2010
Some inspection reports come with printed remediation costs for commonly found issues. These are only ballpark estimates. If you are concerned about repair costs, have at least one reputable, licensed contractor give you a written estimate. Keep in mind, the owner is under no obligation to repair or give credit for any flaws detected, but they very often do.
0 votes Thank Flag Link Mon Oct 25, 2010
Hi,
US Inspect has a cost analysis in the summary... which I think is great for the Realtor and the buyer....what I will advise you about is the costs are per item in the summary- so if there are 3 elect. issues its priced per item- and in reality if the electrician is in the house doing a job his price to do the others are less-
The Number is 1-888-us-inspect
Good Luck,
Alice George
Keller Williams Real Estate
215-260-5114
0 votes Thank Flag Link Mon Oct 25, 2010
A home inspector will provide a report outlining the work that needs to be completed along with prices and their reports are usually pretty accurate. However, the prices will vary based upon the contractor you select.

If you are searching for an agent please feel free to contact me.

With regards,
AG at your service!
215.651.0847
0 votes Thank Flag Link Mon Oct 25, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer