Home Warranties and Inspections - Inspect before putting on market?
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Smith Brother
04-05-07, 09:09 AM
Sorry if this has been covered B-4. I did a quick search and didn't see much.
We are wrapping up the remodel of a home we are flipping, and wonder if we would be wise to have inspected ahead of time? I am not thinking that the buyer would except such as his own, but would give me some insite as to what might pop up.
Any and all comments are most welcome.
I have done all except the major electrical, and furnace work on this home so know it well, but sometimes one can't see the trees for the forrest.
Thanks,
Dale
We are wrapping up the remodel of a home we are flipping, and wonder if we would be wise to have inspected ahead of time? I am not thinking that the buyer would except such as his own, but would give me some insite as to what might pop up.
Any and all comments are most welcome.
I have done all except the major electrical, and furnace work on this home so know it well, but sometimes one can't see the trees for the forrest.
Thanks,
Dale
DIYliz
04-05-07, 11:26 AM
Smith Brother, I am no expert and only giving my opinion
From what I have seen here in Indy in my search for a home, a lot of sellers are offering pre-inspections (or whatever they are called).
I saw one home had an inspection and appraisal completed and this was listed in the MLS. I found it to be very interesting and while the property wasn't what I was interested it made me think that "how nice it would be to have that on every home I looked at".
Anyway, since you have rehabbed the home and done what I assume is a lot of work, I would get an inspection. That way there are no surprises to you or a potential buyer and if there are small things that need done and you are capable of doing, I would think I would want those done if I were you. A potiental buyers inspection could result in a much lower asking price or cost you the sell of your home.
Why not fix all those easy to fix things now so you don't have to worry about them later?
From what I have seen here in Indy in my search for a home, a lot of sellers are offering pre-inspections (or whatever they are called).
I saw one home had an inspection and appraisal completed and this was listed in the MLS. I found it to be very interesting and while the property wasn't what I was interested it made me think that "how nice it would be to have that on every home I looked at".
Anyway, since you have rehabbed the home and done what I assume is a lot of work, I would get an inspection. That way there are no surprises to you or a potential buyer and if there are small things that need done and you are capable of doing, I would think I would want those done if I were you. A potiental buyers inspection could result in a much lower asking price or cost you the sell of your home.
Why not fix all those easy to fix things now so you don't have to worry about them later?
slumlordfrank
04-05-07, 02:25 PM
I agree with liz, it's a great idea. I realize that the agents, if you use one, will tell the buyers to get their own inspection. This will be "to cover yourself", but it's really to cover the agent.
In CA it's standard practice for the seller to get inspections when the house is listed, and I generally do it here in TX. That way if the inspector finds something that I've missed, pretty rare, I can fix it on my schedule instead of possibly having to hire it out because I'm under a deadline for closing.
It also gives you another negotiating tool in your bag as you can counter any low-ball offers with, "but remember, you're saving the $350 cost of the inspection because I already paid it".
frank
In CA it's standard practice for the seller to get inspections when the house is listed, and I generally do it here in TX. That way if the inspector finds something that I've missed, pretty rare, I can fix it on my schedule instead of possibly having to hire it out because I'm under a deadline for closing.
It also gives you another negotiating tool in your bag as you can counter any low-ball offers with, "but remember, you're saving the $350 cost of the inspection because I already paid it".
frank