I'm looking at a fixer-upper that has been on the market since May. Is there a way to find out if there have?

Asked by Margaret Murray, 20010 Fri Nov 30, 2007

been any home inspections done recently? The home is definitely priced lower than others in the same neighborhood, and I'm worried about how long it's been on the market.
There is evidence of water damage, but that's all that I can see. The home was clearly in the midst of renovations - kitchen has been gutted and bathroom is new. The most recent selling price was nearly $150,000 more than they're asking - this all seems to raise many red flags, but I'm not sure if I'm reading the situation correctly. Is it wise to conduct a home inspection before making an offer?
I have some experience in fixing up homes, so I'm fairly clear on what I'm getting myself into.
Any suggestions? Thanks!

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4
Samuel Hilbe…, , Woodinville, WA
Fri Nov 30, 2007
As Lara said...get an inspection but go ahead and place your offer first with it contingent on inspection. Then...if something comes up you can renogotiate or rescind your offer in it's entirety. Your realtor should guide you through these process. Also...have your realtor discuss why this home is priced so low compared to previous sales ad if there have been inspections. Your realtor should be able to get at least a somewhat better idea.

Finally...in this case inspect the seller's disclosure form extremely well. If the seller accurately disclosed any information that they came across you may find the reason this home is now priced so low.
Web Reference:  http://www.agentsamuel.com
1 vote
Lara McHenry, Agent, Spokane, WA
Fri Nov 30, 2007
I would suggest making an offer contingent on the home inspection approval. You in no way are locked into the purchase if something comes back on the inspection, you always have a way to rescind the contract or ask the sellers to perform on the issues that come up. With a good Realtor you should be able to negotiate your way through the process and hold on to your options.

Good Luck
1 vote
Sandy Nelson, Agent, Olympia, WA
Fri Jan 4, 2008
Margaret,
Your Realtor can check the listing's history. If, in the course of time the home has been listed on the MLS, it has been put under contract subject to inspection, the history report will show the status change from ACTIVE to STI (subject to inspection). If a sale fails due to inspection issues, the buyer's agent must furnish the parts of the inspection report that contain the issues under negotiations, to the seller. The documented information about these problems then becomes a disclosure issue for the seller.
I would recommend that every buyer get their own home inspection and scrutinize the seller disclosure statement.
Good luck!
Sandy
0 votes
Kathleen, , New Albany, IN
Fri Nov 30, 2007
Definitely get a home inspection and a termite inspection. Remember the old addage- you can't judge a book by its cover? That definitely holds true with purchasing a home as well. The cost if a home and termite inspection is definitley less than buying a money pit. Make sure your inspector is qualified to do the inspection. You do not need fancy videos and other items a company may offer and charge you dearly for but you do need someone who knows how to check for issues that may cost you a lot of money to fix but are not readily seen. Get your inspections before purchasing any property.
Web Reference:  http://KathleenCulley.com
0 votes
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