Welcome to Universal Wealth Creation.com

This site have been developed as a resource for people

searching for the best ways to create wealth and increase the

quality of their lives. Inside you will find reviews of the latest

Investment strategies available.

Wealth Creation

Home Page

Wealth Creation

Wealth Finance & Property Articles

Buying a Home -- Is a Home Inspection a Good Idea?
By: FSBO America

To avoid “buying a pig in a poke,” buyers have long demanded the closing on a home purchase be contingent upon a satisfactory inspection by a home inspection firm. In many parts of our country, we’re now experiencing a strong sellers’ real estate market and sellers often receive more than one purchase offer on the same day for their home. In this environment, buyers are rethinking the home inspection requirement. Is this a good idea?

To Inspect or Not To Inspect

Clearly, if a seller got two offers and one requires a home inspection be done, most sellers will choose the non-inspection offer with all other things being equal. So, a home inspection requirement can put you at a competitive disadvantage. Still, are you willing to risk purchasing a home that has some fundamental, expensive problems? What if you purchase the home and subsequently learn plumbing under the floors must replaced? What if the repair costs $10,0000?

One option may be to include a provision in your purchase offer that provides for a home inspection done for informational purposes only. That way, settlement under your offer is not conditioned upon the inspection. It would not provide you with the option of amending the contract to have the seller make repairs, nor would it provide a way for you to void the contract should serious problems be uncovered. Should serious problems be discovered, however, the seller is bound to know the deal will be in jeopardy. For that reason, even an “informational” home inspection won’t look as good to her as a contract with no requirement for a home inspection.

Another option you might consider in lieu of a home inspection is a sub rosa inspection. Instead of using James Bond for spying, you could ask a friend working in the construction or engineering field to walk through the house with you. The goal, of course, is to look for any glaring “red flags” that are deal killers.

If your friend doesn’t see anything disturbing, you can then write a clean contract offer without contingencies. Sellers love no contingency sales. The chances are good that you’ll get the home you want, but still have a some assurance there isn’t anything seriously wrong with the property.

There is no one right answer when it comes to deciding on home inspections. Each buyer has to ask himself how much risk he is willing to take. If you are the only party making an offer, demand an inspection. If you are one of many potential buyers, well, you are going to have determine your comfort level. Others can provide information, but the decision is yours.

Raynor James is with FSBOAmerica.org - sell your home online. Sellers list your home for free the first month.

http://www.universalwealthcreation.com Wealth Creation | Financial Wealth

Copying or republishing this article is permitted with this footer included

Collect a Free 260 page ebook here: Universal Wealth Earn up to $1,000 per referral: Wealth Creation Affiliate

These property, finance, stock market & business articles have been supplied in the interest of Universal Wealth Creations visitors who want to expand their knowledge in the wealth creation & investment fields. All the business, finance, stock market & business articles have not been read as they are submitted remotely, so if you find any questionable facts in here or simply do not like it, please email webmaster@universalwealthcreation.com and we will review the material. As we find time to do so, we will go through all articles and remove any that appear not suitable. Other sites we recommend here at Universal Wealth Creation are: 21st Century Academy with Jamie McIntyre, Investor Finance, Universal Trading Solutions which promotes great wealth creators like: Kim Reilly, Simon Martin, Justin Beeton, Louise Bedford, John Kaye, Daniel Kertcher & more. They run great seminars across the country. At times we will publish dates for these seminars as they are made available around the counrty. Meanwhile, there is a great opportunity to learn about the finance, stock market & property investment field through reading these kind of articles. Learn about share trading, options, futures, CFD's, derivatives, warrants, indices & more in the stock market. You will also learn plenty about business, finance & property investing through authors opinions in the marketplace. Enjoy your journey towards financial freedom. We hope you will enjoy your visit.

Regards Sean Rasmussen - Universal Wealth Creation Pty Ltd

Site Map

Return to Index
Return To Universal Wealth Creation Home Page