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Bay Area Real Estate: Review - Get that House Inspection… yesterday

  
  
  

With next weekend coming up as one of the busiest weekends for Open House showings in the Real Estate market, we thought we would re share this blog from last October about the importance of home inspections. Whether you will be looking at homes for sale by owner, or assisted by real estate agents, this step cannot be missed.  Happy house hunting!  

 

Blog from last October 7, 2011:

 .. Hold the champagne, hold the party hats, put the streamers and horns back in their bags. So you’ve found the perfect match, you and your new house, but you don’t think a house inspection is needed. Everything looks fine as far as you can tell. However, skipping that house inspection would be like marrying someone you just met on the street, they sure may look good, but you don’t know what kind of issues they may have!

electrical panel

Having a house inspector do a thorough inspection can save you from headaches later, and most of all, can help you save money on repairs that would have to come out of your pocket. A good inspector may catch things that may slip the eye of the average homebuyer:

- Structure faults in the foundation, walls or floors
- Roof construction and condition
- Electrical wiring
- Mildew
- Code violations

A house inspector will usually send you a detailed inspection report of their findings, however most if not all inspectors, will not give you repair costs. You will need to bring in a contractor, who will go over the inspection report and view the property to see what material and work will actually be needed for the repairs. I was selling one of my properties, when the buyer’s contractor pointed out an inspection finding of rotten wood under one of the bathrooms. We had to subtract about $5k off of the sale price to accommodate the future repair. Likewise, when I was buying a fixer-upper, the contractor calculated the repair costs would be about $80k, and thus the seller had to bring his sale price down to account for those repairs.

So don’t make the mistake of bypassing this very important step in the process of buying your property, you will not regret it! Ok, now where’s that champagne at…

 

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