he housing market has problems with foundations,
exploded, with home prices plumbing, wiring, and termite
rising beyond all reason in infestation. In addition, they
some markets. Home prices have often check to make sure the home
doubled or tripled during the meets building, zoning, and
last five years, and in some easement codes. The fee of
cities, the asking prices for several hundred dollars, paid by
homes are considered only to be the buyer, can turn out to be a
suggested opening bids. Homes bargain if the inspection
often sell in a few days or even determines that the home needs
hours, and would-be buyers are thousands of dollars in repairs.
tiring of losing out to higher At that point, the buyer can walk
bidders. In order to achieve an away from the home or negotiate a
advantage over other bidders, financial compromise with the
some people are offering to buy seller in hopes of having the
homes without a professional problem repaired prior to sale.
inspection. What do they gain
from such an offer? Is declining The current housing market has
an inspection an OK thing for a brought about a lot of changes in
buyer to do? traditional real estate rules.
Buyers who want an "edge" over
Traditionally, a professional other bidders in markets where
home inspection is a valued sales are brisk might offer to
component of the home buying buy the home without an
process. While inspections are inspection. This might motivate
rarely required by law, most the owner to sell to them, rather
buyers would prefer to have any than another buyer who might
home they might purchase insist upon the inspection. In
inspected before committing to short, these buyers are offering
purchase. The inspectors look for to take the home on an as-is
basis. Is there any benefit to to buy a home without an
this? inspection is taking a serious
risk, as they could find
Most real estate experts agree themselves the owner of a home
that it is foolish to purchase a that he or she cannot afford to
home without a prior inspection. repair. There may not even be any
While some problems can easily be benefit to buying without an
seen by even the most casual of inspection, as most homes in hot
browsers, others, such as termite markets sell for more than the
infestation or a cracked asking price whether the home is
foundation, might only be noticed inspected or not. If you cannot
by a professional inspector. inspect a home prior to purchase,
These problems can cost tens of it would probably be wise to pass
thousands of dollars to repair, and wait for another suitable
and in some cases, might even property to come along.
render the home legally
uninhabitable. Anyone who offers
About the Author:
"©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including http://www.End-Your-Debt.com, a Website devoted to debt consolidation information and http://www.HomeEquityHelp.net, a site devoted to information on home equity loans.
Source: www.isnare.com
