[olecapt]

Originally Posted by macgeek

Home inspection, is a waste of $$, BUT you need someone with common sense and some technical background to walk the house looking for MAJOR problems.

Unless you are willing to take the house 'as is' warts and all. you really should hire a home inspector

Jonathan

Disagree relatively strongly. Interesting houses for instance need an inspection if for no other reason than to put together and price the check list of things to be done.

And a proper inspection may often provide the evidence for a substantial price reduction.

I have a client who does not need one. But he is buying in a narrow range of newer homes and simply walks them with his contractor.

But for most people the inspection is reasonably valuable and every tenth or twefth time they find something interesting.

[Scott456]

so my friend is under contract on a property. The water has been shut-off becaue of unpaid bill of $1500 (due to water leak). How does the inspector check plumbing system if there is no water?

[ScoopLV]

Originally Posted by macgeek

Home inspection, is a waste of $$, BUT you need someone with common sense and some technical background to walk the house looking for MAJOR problems.

Unless you are willing to take the house 'as is' warts and all. you really should hire a home inspector

Jonathan

Are you saying it's a waste of money or not?

I don't bother with inspectors, but I do my own inspections. Seeing as I already have all the tools -- thermometers, voltmeters, moisture meters, etc., it's really not much more than running down a checklist. Takes all day to do it right, though. The professionals I've come across aren't as thorough with a client as they would be inspecting their own potential purchase.

And if I can't check the plumbing due to water being shut off, I'd walk away from the deal. Unpermitted improvements, boring insects and water are the big money problems.

As with most other things property related, it doesn't hurt to take a class on the subject -- if nothing else to make sure the inspector isn't just running through the motions.

[olecapt]

Originally Posted by Scott456

so my friend is under contract on a property. The water has been shut-off becaue of unpaid bill of $1500 (due to water leak). How does the inspector chek plumbing system if there is no water?

You get the water turned on. Any agent can do it. I have had the water turned on in my name a dozen times in the last couple of years. They know about inspections.

YOu can also pressurize the system with compressed air and see if it is leaking or borrow a hose from a neighbor and flush the johns.

But it is easier to turn the water on. Make sure you are paying attention. Generally the water company removes their lock but they won't turn it on if any water is being drawn. So when you turn it on have someone inside or get in quick. Flood time...

[olecapt]

Originally Posted by ScoopLV

Are you saying it's a waste of money or not?

I don't bother with inspectors, but I do my own inspections. Seeing as I already have all the tools -- thermometers, voltmeters, moisture meters, etc., it's really not much more than running down a checklist. Takes all day to do it right, though. The professionals I've come across aren't as thorough with a client as they would be inspecting their own potential purchase.

And if I can't check the plumbing due to water being shut off, I'd walk away from the deal. Unpermitted improvements, boring insects and water are the big money problems.

As with most other things property related, it doesn't hurt to take a class on the subject -- if nothing else to make sure the inspector isn't just running through the motions.

That is fine if you know what you are doing and buying or not buying is the only issue. If however you want to get a price reduction or even a fix the seller wants something in writing from someone with a license. You got a license?

[ScoopLV]

Originally Posted by olecapt

That is fine if you know what you are doing and buying or not buying is the only issue. If however you want to get a price reduction or even a fix the seller wants something in writing from someone with a license. You got a license?

With so many houses available, it's always "to buy or not to buy" for me. I can always move to the next property.

[olecapt]

Originally Posted by ScoopLV

With so many houses available, it's always "to buy or not to buy" for me. I can always move to the next property.

Ahhh if only that were true...

There are those buyers...but I have three or four at the moment who are taking months to find the suitable house.

Missed one Wednesday. Three quarter million both ways. Got done in by no water in the casita and barking dogs next door...

[chicagobull]

Good evening everybody!

Today, the seller (bank) accepted my counter offer for keeping the EMD no change.

Now, the seller side hands over its REPA for review and wants me sign it within 24 hours.

In general and for buyer’s interest, do I need to request something being changed in particular within REPA, or just accept it as ‘standard’ one?
Seller side agent also wants me to do the home inspections ASAP.

Anybody here would be kind enough to give me some recommendations for reputable individuals or companies for home inspections?

Thanks so much for help!

Chicago Bull

[olecapt]

Originally Posted by chicagobull

Good evening everybody!

Today, the seller (bank) accepted my counter offer for keeping the EMD no change.

Now, the seller side hands over its REPA for review and wants me sign it within 24 hours.

In general and for buyer’s interest, do I need to request something being changed in particular within REPA, or just accept it as ‘standard’ one?
Seller side agent also wants me to do the home inspections ASAP.

Anybody here would be kind enough to give me some recommendations for reputable individuals or companies for home inspections?

Thanks so much for help!

Chicago Bull

What is a REPA?

This some sort of bank purchase agreement or addendum?

[chicagobull]

Originally Posted by olecapt

What is a REPA?

This some sort of bank purchase agreement?

REAL ESTATE PURCHASE ADDENDUM from BAC