A Home Inspection Now Could Avoid Headaches Later

Despite the downturn in the housing market, millions of homes will still be bought and sold. At a time when price negotiations have become more vigorous, many buyers and sellers neglect one important element that could cost them thousands of dollars: the home inspection.

Mike Kuhn, co-author of The Pocket Idiot’s Guide to Home Inspections has spent nearly two decades trying to change a mindset.

“Approximately one quarter of homebuyers do not get a professional home inspection for their prospective home,” says Kuhn. “An even smaller percentage of home sellers acquire a pre-listing inspection to help them better present their home in a competitive way.” Years of witnessing costly and avoidable errors prompted Kuhn to help develop a guide to home inspections. He believed that if people knew more about the home inspection process, they’d understand what it includes, why it is necessary, and how to make the most of it.

A professional home inspection can help buyers avoid buying someone else’s problems, and for sellers the home inspection can help them eliminate potential defects that could turn off a prospective buyer.

A professional home inspector will review the major, visible and accessible components of the home and provide a detailed written report rating each element. The report should objectively include information in a detailed manner that allows the client to make informed decisions.

A professional home inspector also educates and provides tips on proper home maintenance. Buyers or sellers are encouraged to attend the inspection. Kuhn adds, “HouseMaster inspectors are specifically trained to communicate throughout the inspection, demonstrating how to operate many of the home’s systems and discussing maintenance needs.”

More than ever, buyers need to know what they are buying to reduce the possibility of making a very costly mistake. Sellers need to do what they can to make their home standout from the others on the market. The average home inspection costs between $350-$550, but in almost any kind of real estate market, a home inspection is a wise investment. For more information about The Pocket Idiot’s Guide to Home Inspections and other home inspection resources, visit housemaster.com.

Buying Foreclosures: Deal or No Deal?

Buyers and would-be investors often look to foreclosure sales to find real estate bargains. But newcomers to this market could find some unpleasant surprises if they go in blind. All homes should be thoroughly inspected by a professional home inspector before sealing the deal.

Why inspect if you can’t negotiate?
Foreclosure homes are usually “as-is” sales. This means that buyers cannot negotiate for the cost of needed repairs, as they may do in a traditional home purchase. Buyers must absorb repair costs themselves and consider this in their purchase offer at auction. So why get a professional inspection on a foreclosure property?

Too many foreclosure buyers think they’re getting a deal when, in fact, they might be purchasing a property with substantial and costly defects. The repair of these major issues could exceed the savings gained in buying a foreclosed property.

Sellers at foreclosure auctions are not usually obligated to disclose defects. But buyers can empower themselves by getting a professional property inspection before the auction that will provide valuable insights about the condition of the home. If pre-auction property inspections are not permitted at the foreclosure sale, buyers will need to weigh that risk carefully.

Knowledge is Power
Even with a significant influx of newly foreclosed properties due to the sub prime mortgage mess, the foreclosure market can be competitive, and it is often dominated by experienced real estate investors. Armed with the right information you can make informed bids and find the best home at the best deal. After all, a bargain isn’t a bargain if it costs more than expected down the line.

Remember, buying foreclosed properties can be a risky business, so be certain to consult with needed professionals, including a reputable, certified home inspector, to address questions about specific issues. More homebuyer and home maintenance tips are available online at housemaster.com.