How much is Home Home Inspection Important in Bidding war type market?
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The current is a Sellers Market.If the property is good looking in paint and nice curb appeal, nicely staged and decorated.
BUYERS BE AWARE!
Don't get in to glamour. Cosmetic fixing is just a few $ item.You are going to get the empty house. Cosmetic items any one can fix them selves at a very minor cost.
Check all BIG tickets items conditions like Doors, Windows, Appliances, HVAC, Structure, Basement leakage, Roof, Electricals, exterior grading, termites, burried oil tank condition, Basement appartment legality,any other saftey issues so on and so forth.If you are not experienced to see and check all these or could not estimate your future cost to fix it then you are entering in to BIG trouble and stuck for life in that piece of junk, fixing it for years to come followed with all expenses, headaches, discomforts and insted of enjoying the home you will repent rest of your life on ONE WRONG DECISION.
I would highly recommend to put INSPECTION condition in your offer and if seller or sellers Real Estate insist to give a clean offer then think TWICE what is your risk if any one of these item is not right you land up in minimum of 3 to 5000 $ and up depending on how sever the problem is to repair it. Over and above you have paid more just to get that lovely property.
IF you have any questions regarding Home Inspection or you are a FIRST time home buyer and need more information feel free to ask any question, i would be more then happy to help you to best of my ability and knowledge.
Location: Amidst a glow in the sky.
Posted on: 20-04-10 07:59:18
Quote:
Originally posted by candesi6478
.... offer then think TWICE what is your risk if any one of these item is not right you land up in minimum of 3 to 5000 $ and up depending on how sever the problem is to repair it. ......
I do agree with you about the importance and value of home inspection, however bidding wars generally end up with the property sold at 10-100k more than asking price. IMHO, 3-5k in repairs would not be much of a concern for those who are ready to pay so much more than asking price..
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Location: British Columbia
Posted on: 20-04-10 10:11:10
Quote:
Originally posted by G13
Quote:
Originally posted by candesi6478
.... offer then think TWICE what is your risk if any one of these item is not right you land up in minimum of 3 to 5000 $ and up depending on how sever the problem is to repair it. ......
I do agree with you about the importance and value of home inspection, however bidding wars generally end up with the property sold at 10-100k more than asking price. IMHO, 3-5k in repairs would not be much of a concern for those who are ready to pay so much more than asking price..
It may be more. Home inspections only cost a few hundred dollars but they can point out repairs that you may encounter down the road especially if the house is older. Its not a bad idea to have a new house inspected, although you get the 2-5-10 warranties.
The housing market in BC has been very hot for a few years now. Still, home inspections are always recommended.
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Quote:
Originally posted by G13
Quote:
Originally posted by candesi6478
.... offer then think TWICE what is your risk if any one of these item is not right you land up in minimum of 3 to 5000 $ and up depending on how sever the problem is to repair it. ......
I do agree with you about the importance and value of home inspection, however bidding wars generally end up with the property sold at 10-100k more than asking price. IMHO, 3-5k in repairs would not be much of a concern for those who are ready to pay so much more than asking price..
