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Real Estate Inspection - Doing Your Own

By - 2006

Why would you do want to do your own real estate inspection? To get a better price. You don't have to learn building codes, and you probably should have a professional inspector in any case. The point of learning what to look for is to have good negotiating points.

Use a Home Inspection Checklist

With a good inspection checklist, you won't forget things. There are more than a hundred items on my own list. Could you keep all those in mind as you walk through a property? Did you remember to look for water stains on the basement walls the last time you looked at a house? Bring a list!

A good list is organized by area of the house, usually starting outside. As you walk around and then through the home, check each item on the list. Be sure to take notes. If the gutter is coming loose on the side of the house, write that down, along with notes about rotten wood or anything else associated with it.

Don't worry if you don't know the difference between 12-gauge and 14-gauge wiring. The point isn't to become an expert on all the building trades, as useful as that would be. Just use what you do know. Note if something looks "odd" or "smells funny." Then you can have a professional inspector have a closer look.

Real Estate Inspection Is a Negotiating Tool

You could, of course, just make an offer on a home and include an inspection clause. After an inspector goes in, you can re-negotiate the price based on his findings. This is common. The problem is that it can offend the seller, and blow the deal. How would you like it if somebody dropped their offer by $10,000 after they already put it in writing?

Here's a better way: Find as many problems with the property as you can, BEFORE making the offer. This way you can take all of these issues into account. A list of the problems presented with an offer is also a good impersonal (therefore non-offensive) way to negotiate a lower price.

You don't need to be a carpenter to note that a railing is loose. Anyone can see if a home needs new paint. Real estate inspection can start with such simple things as these, and end with a better price for you.

You can use the link here to get to that home inspection checklist.

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Houses Under Fifty Thousand | Real Estate Inspection - Doing Your Own