I submitted an offer on a unit that was built in 2007 and lived in for around a year if not less. My offer was accepted and contract signed. The unit is part of a community that was still in the building phase when the builder went bankrupt. The unit was turned over to Fannie Mae and is sold AS-IS. It also qualfies for special financing with Fannie Mae Homepath program and includes a home protection plan. The plan will repair or replace major systems and appliances, including heating and A/C systems, kitchen appliances, plumbing systems, water heaters, electrical systems, and garage door openers. It provides an additional $3,000 in extended coverage for other specified repairs and replacements of certain home systems and appliances.

With that said my question: The unit is in excellent shape and all appliances are in excellent condition. Is an inspection really necessary? What would I gain by hiring someone to look at the unit when any repairs needed will by my responsibility.

You will gain peace of mind knowing that you did not buy a white elephant.

Before the builder went bankrupt he knew what was coming and could have started taking short cuts which affect this unit. If the home inspection finds major problems you will have the opportunity to go ahead with the purchase knowing what to look forward to or you can walk away and get your deposit back.

Get the inspection. They are cheap compared to what you might be facing.

Bigtoe, excellent point on builder cutting corners. However, this unit was built a year before builder went bankrupt. In fact several units were built after this one. All but one unit has been sold. Im not trying to cut costs myself I just dont want to pay out hundreds of dollars and it not be necessary. I understand corners are cut in constructions and the code inspectors are overworked but I can't think of anything that would be found in the inspection on such a new unit that would be a contract stopper. Any ideas?

Chinese sheet rock

The small price of an inspection is worth the large amounts of money it could save your. Or even worse the health risks from factors such as what Bigtoe mentioned or other problems.

I recently looked into buy a house and they said their might be some sort of tank underground that could be leaking oil or something. To fix it would cost several thousand dollars and if you don't you could get sued by neighbors I heard if they find out the tanks i leaking.

Its stuff like this inspectors can find to save you big money in the future.

Once I had an inspection done where the air conditioning unit was moved from a closet to the attic with access through the master bedroom closet. The inspector told me he didn't think it was up to code. I had an air conditioning guy inspect it and there were several things wrong but the main thing was that there was not enough room in the attic for the air conditioner to be worked on if needed. I advised my client to walk away.

This was an older home but I have heard many stories of new homes having things wrong with them. I always advise to get an inspection.

Yes, you should arrange a professional building inspection. It will help you to get the compensation or the rough idea about the future problems that may arise. So, you can erect them within time. It is also necessary for future insurance plans, you may be interested in.

I concur with the previous comments. Better the problem you can see than the one you can't.
Clay Branyon

I have to wonder - if the builder was good would he have gone bankrupt.

There could be other issues besides the systems in the house. Basic structural items - I know that I see some things that I think may just be some flaw and my husband (a builder) can look at it and say it's a disaster waiting to happen...

Unless you are experienced in professional construction, I would say you should ALWAYS have a building inspection.

What woke this thread up ?

I guess I was bored, perusing the threads and commenting on old ones just for the heck of it. lol

I'm of the mind (having been burned by a home inspection) that it offers you or the buyer peace of mind. At the very least, it can offer a heads up before making a purchase.

If it were me I would always get an inspection. You just never know about flukes in the electrical systems. It could be the best $400.00 you ever spent.

Locally:
1. An buyer’s agent who failed to insert a home inspection clause in the buyers offer, would be guilty of a breach of their fiduciary duty to their client.

2. Such an agent would be subject to disciplinary action by the regulatory authorities.

3. Such an agent could also be subject to a civil lawsuit for a breach of their fiduciary duty to their client and ensuing damages together with legal costs.

4. A knowledgeable agent would recognize their own liability and would therefore obtain express instructions from their client, wherein the client acknowledges being informed by the agent of the possible risk involved for failing to insert a home inspection and/or any other inspection clause in their offer and states that they do not wish the relevant inspection clause inserted in their offer.

History has shown that some people have or develop a very selective memory when it comes to filing a complaint or when being involved in a legal action.

One should always remember, that if you do not have it, in writing, then you don’t have it.

Important Notice: This information is provided as basic educational information by the author and is not a substitute for the advice of an expert and/or the advice of a lawyer. There is NO representation as to legality, accuracy, correctness of the herein information and the reader is strongly urged to consult a lawyer in the relevant jurisdiction to ensure accuracy before acting on this information .

An inspection may uncover certain problems that aren't covered under the protection plan. I think an inspection is still worth it.

We have a form that is titled, For your Protection, get a home inspection. All buyers that don't want an inspection, sign it. It covers you when they try to come back.

You might consider the following form should a buyer decline to have an inspection of the subject property completed.

TO: (Brokerage Firm)

AND TO: (Registrant)

Re: (Property Address)




ACKNOWLEDGEMENT

I, the undersigned hereby acknowledge that you have advised me that the inspection
of the house situated on the above noted property may reveal certain defects and/or
hazzards that may not be acceptable to me.

I, further acknowledge that you have advised me to obtain an inspection of the house
in question by a qualified house inspector and that I declined to do so.

I, further acknowledge that you advised me concerning the adverse affect my decision
may have and I am content to accept the risks attached thereto.


Dated at .................. this ................day of .................................., 20.........


Witness:

....................................

.................................... .

....................................
Clients Signature

...................................
Clients Signature

(Note That there is a problem in formating here and that the witnesses sigatures are placed on the left and the clients signature are opposite on the right side of the page, "Acknowledgement" is centered.)

Important Notice: This information is provided as basic educational information by the author and is not a substitute for the advice of an expert and/or the advice of a lawyer. There is NO representation as to legality, accuracy, correctness of the herein information and the reader is strongly urged to consult a lawyer in the relevant jurisdiction to ensure accuracy before acting on this information .

There's no such thing as a perfect building/house. Even the ones built today have serious flaws and cheap materials, not to mention careless carpenters. The things the average person cannot see are also likely to be the most serious. Not having an inspection is just plain foolish and that's putting it moderately.

I recommend getting a home inspection to all of my clients. It doesn't matter if they are investments that will be rented out or new homes being built. It is the piece of mind, you will receive knowing you had it all checked out. Even in the new builds the home inspectors typically find some problems that need to be addressed.

Thank you for the answers, it was helpful

We use that form in VA also. HUD requires that form to be signed regardless of getting or skipping a home inspection. I've had either Fannie or Freddie also require the form even though it's clearly written in the contract that the buyer is having a home inspection. I suspect they want it signed in case the buyer backs out of getting their home inspection and then comes crying after settlement that there's a serious problem with the property.

I always get that signed even if my buyers are having an inspection as proof that we discussed home inspections.

I recently did a transaction as a listing agent and the buyer's agent handwrote in the contract that buyer (owner-occupied) would have a home inspection for informational purposes only. This agent did NOT include the standard home inspection clause - which I always doctor up to meet my buyers' specifications. Well, he didn't have that clause at all in the contract (yippee for my seller!!!), and, there were several problems with the property. They all passed appraisal but appraisers aren't electricians.

GET A HOME INSPECTION. You're buying a piece of property that has a value of tens upon tens of thousands of dollars and you want to skip it to save a couple hundred? Dumb!

Then there's the guy who paid all cash and didn't think he'd need title insurance....

Good question! Personally, inspections are needed and important from many views. Among the main items to check and inspect during a PDI (Pre-delivery inspections) are:
http://ellidavis.com/toronto-real-estate-news/2011/09/tarion-new-home-inspection

* air conditioning, heating, air distribution systems
* water, sewage (or a septic system), drains, and all related plumbing
* electrical systems, wiring, power distribution, data cables and networks, radio and coaxial cables
* quality of craftsmanship with tiles, ceramic fixtures (bathtubs, toilets, and sinks), caulking and insulation, and mould prevention
* safety and sturdiness of cabinets, shelves, doors, windows, kitchen appliances, stairs, and floors
* the quality of the entire construction, specifics depending on the type of house and the materials used
* the roof and its ability to protect the house from rain, withstand wind, and ventilate the house appropriately
* any exterior appliances that were “bundled” with the house or condo, including a garage, the sod/grass, a fence, or benches
* and more

I would say your best bet is to get an inspection. If you do not, it could come back to you in the future and you could have problems. There may be something in the house that you missed and it is better to be safe than sorry.

Yes, you need to arrange a professional building inspection. It can be cheap as compared to what you might be facing.

You should always have an inspection done before purchasing a property. There is never a good excuse not to spend an extra few hundred dollars to get one done. Good luck.

Yes inspection is very much required an would be very helpful and you would be safe at house. Its for sure that you won't be cheated at the time of buying house or any rental house and would also increase the value of your property.

_________________________________________
[url=http://www.newcondosolutions.com/]Miami beach condos[/url]

And not only will the inspection give you peace of mind in the present, but if you do buy the house you'll be able to know what to look for in the future in relation to potential maintenance issues. I think it gives you an overall better awareness of what you, as the buyer, are financially getting into 5-10 years in advance. With home ownership, the less surprises the better.

I always recommend to all my clients that they hire a professional home inspector and carefully review the written home inspection report.

Of course, any items needing repairs listed in the home inspection report can be used for further negotiations.

Some of my clients are investors who purchase houses regularly and conduct their own home inspections. As an agent, I cover myself by recommending that they hire a professional home inspector.

However, as an experience investor myself who has purchased and renovated houses, I also do my own home inspections. If my inspection discovers something I am not familiar with, I will then bring one of my contractors to the house to advise me.

I think it's need mate! That's a main thing in Real Estate.

I think anyone would be a little crazy not to get an inspection done. You don't want to realize what seemed like a perfect house is really no where near .... after the fact!

it is very easy to just trust people. My experience has shown that the people that are trying to influence you to NOT do an inspection, are the exact ones that you absolutely need to have one done on. $400 is cheap insurance.