3. Get a home inspection. Surprisingly, 25% of buyers still don’t undertake this one measure that can save them huge hassles and expenses down the road.
4. Investigate your real-estate agent. While the majority of agents are capable and honest, we’ve heard enough horror stories to make this one of our mantras. Bear in mind that real-estate exams aren’t necessarily taxing — and in a few states not even necessary. If your agent really seems clueless, chances are he or she is clueless — not a good thing when hundreds of thousands of dollars could be on the line.
That this many people neglect to get a home inspection is astounding. I kid my clients that “if they really want this house, they won’t get a home inspection;” I have been able to advise each and every one of my clients (so far) to get an inspection. $300-$400 is a small price to pay.
From the Realestatejournal.
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Wise advice, indeed. In my experience the home inspection has paid for itself because then I have a “gripe list” of things to negotiate. I heard recently that in Northern Virginia it is common for the realtor to encourage buyer’s to waive the inspection in order to close more quickly. The context seems to be that bidding wars happen frequently enough that it is in the buyer’s interest to get it buttoned down quickly. Personally, I find that to be a rather scary prospect and I’m glad that real estate in central Virginia is more sane.
While I have been able to advise my clients to have home inspection contingencies, I have had several offers when working as the listing agent which did not have home inspection contingencies – each and every time, that particular offer has held a stronger position than its competitors. Any Realtor who encourages his or her client to waive the inspection is doing that client a disservice, in my opinion.