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Old 08-17-2012, 05:14 PM
 
1 posts, read 1,700 times
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I am purchasing a short sale townhouse in Warren County. Should I have a home inspection done before the closing even though is it being sold "as is"?

Can anyone recommend a good home inspector experienced in short sales with potential problems?

Thanks
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Old 08-18-2012, 08:50 AM
 
Location: Westwood, NJ
774 posts, read 2,205,906 times
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You want to have a home inspection regardless to know exactly what you are getting into. You can still pull out of the deal if there is a major home inspection issue.

I would have your agent recommend several good home inspectors in that area.
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Old 08-18-2012, 08:53 AM
 
Location: NJ
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Are you already under contract? If so, what does it say about inspections?

Of course you always want an inspection. How do you even know what "as is" is if you don't get it checked out?

And do you have an agent? This should have already been discussed with you.
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Old 08-18-2012, 09:52 AM
 
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All existing home are sell "as is". You should always inspect the home after the offer is accepted.
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Old 08-20-2012, 06:35 PM
 
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these are things i always go over with my clients, this is what your realtor gets paid to do!! you are crazy not to inspect it first, regardless is if it is sold as is, what if there is major structural damage/foundation problems? now you just got a great deal on a money pit. thats going to cost you 100,000$ in repairs.....what if it has termite damage? there are endless problem possibilities that could occur, "as is" means they arent going to fix anything if something does come up in an inspection, most banks do this because they have 100's of short sales to get rid of and are giving you a take it or leave it option.
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Old 08-20-2012, 06:36 PM
 
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are you in attorney review yet?
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Old 08-20-2012, 07:45 PM
 
Location: Cranford NJ
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You should have the title run asap. Things like tax liens and judgements could take months to clear, if at all. Second liens are often tough to deal with. The sellers are at their wits end, so do you think they care to tell you the truth? Do your home inspection after title is run. Buyers putting offers on short sales are risking their money doing inspections, and spending on title searches, not knowing if the seller is truly capable of selling, or if the lender will approve your offer.
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Old 08-20-2012, 09:07 PM
 
284 posts, read 583,480 times
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We bought a short sale beginning of this year, did a home inspection and got the seller to fix some. In our case, the seller had two offers in the previous two months, in one instance, he didn't bother to do anything, not even clearing the house, the buyer walked. As a result, the price was lowered. Our attorney who handled the previous offer was surprised that he was willing to fix the minor problems. You never know.
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