Friday, August 29, 2008
Home Pre-Inspection Tips [from the 'Show Me' State]
Home Pre-Inspection Tips http://ozarksfirst.com/media_player.php?media_id=101221
Reported by: Angie Weidinger Wednesday, Aug 27, 2008 @10:42pm CST (Springfield, MO) --
It's no secret that there are a lot of homes currently for sale, but what is less obvious is knowing which ones are worth buying. Most people can't afford to hire an inspector for every house they look at, so we found a few pre-inspection tips to help you save some time and narrow down your home options.
"I wanted to buy a home, rent to me was throwing money away," explained first time homebuyer Jennifer Barrett.But, it took awhile for Barrett to figure out which one of those real estate signs pointed to the best investment.
"To find the right one, you have to look at a lot of them and eliminate from there," explained Barrett who has looked at between 20 and 30 homes for sale.
Short of a few must haves like a garage big enough for her SUV, she wasn't always sure what criteria to use in that elimination process.
"I did have a lot of those thoughts," admits Barrett."Just keep your eyes open when you look at a house," suggested home inspector Tony Dixon.Dixon pointed out a few problems for us at one home on Wednesday.
"This is an issue you can see it's here and goes over here," said Dixon as he pointed out a water stain on a house ceiling.Water stains can mean other problems in the house.
"This is where you could get mold, also it could leak on the floor joyce and wood and it could go all the way to the floor and rot it," explained Dixon.Some might try to cover that up. So, he says to be leery of fresh paint on the ceiling or on one wall of the house. Also, look for cracks on the walls. Dixon says they could just be formed by humidity from the bathroom, but if a crack goes all the way down the door of if the wall or door frame is unlevel, there could be bigger issues.
"Sometimes that's termite damage and the area is week and it moves every time you walk on it," he said.Plus, make sure to take a close look at the outside of a home.
"Your gutters not being clean can cause all kinds of problems," said Dixon. "The can drain on the ground and the water sits on the foundation and goes in the crawl space and when you go in there, you'll find water.
"With a little help, Barrett figured out one of the homes she looked at didn't have any of those problems, it had that all important garage and one other dream item that made her realize her house hunt ended at its front door.
"I had always pictured rocking chairs on the front porch and I absolutely love that area," said Barrett.Jennifer Barrett will close on her house Thursday and take advantage of the $7500 tax break offered by the government to first time homebuyers. But before she even made an offer on that house, she had a full inspection.Experts say that's a good use of your money. A certified, insured and trained inspector can see problems most homebuyers would never notice.
Here are a few more pre-inspection tips:
1. Look around the neighborhood. If all of the other homes have new roofs, there might have been hail damage in the area and the house you're looking at might have untreated hail damage, too.
2. Are there a number of homes for sale in the neighborhood? You might wonder why so many people are wanting to leave the area.
3. Take a big sniff of air inside and outside the house. If you smell something unusual, ask about it. If all you can smell is potpourri all over the house, that could be a red flag, too.
4. Watch out for do-it-yourself jobs. It might look okay, but have problems lying underneath, especially in those jobs that include wiring or plumbing.
5. Cracks in the concrete outside the home aren't unusual in Missouri, but if there is major settlement where water is getting underneath that concrete it could cause it to become hollow and dramatically settle.
Reported by: Angie Weidinger Wednesday, Aug 27, 2008 @10:42pm CST (Springfield, MO) --
It's no secret that there are a lot of homes currently for sale, but what is less obvious is knowing which ones are worth buying. Most people can't afford to hire an inspector for every house they look at, so we found a few pre-inspection tips to help you save some time and narrow down your home options.
"I wanted to buy a home, rent to me was throwing money away," explained first time homebuyer Jennifer Barrett.But, it took awhile for Barrett to figure out which one of those real estate signs pointed to the best investment.
"To find the right one, you have to look at a lot of them and eliminate from there," explained Barrett who has looked at between 20 and 30 homes for sale.
Short of a few must haves like a garage big enough for her SUV, she wasn't always sure what criteria to use in that elimination process.
"I did have a lot of those thoughts," admits Barrett."Just keep your eyes open when you look at a house," suggested home inspector Tony Dixon.Dixon pointed out a few problems for us at one home on Wednesday.
"This is an issue you can see it's here and goes over here," said Dixon as he pointed out a water stain on a house ceiling.Water stains can mean other problems in the house.
"This is where you could get mold, also it could leak on the floor joyce and wood and it could go all the way to the floor and rot it," explained Dixon.Some might try to cover that up. So, he says to be leery of fresh paint on the ceiling or on one wall of the house. Also, look for cracks on the walls. Dixon says they could just be formed by humidity from the bathroom, but if a crack goes all the way down the door of if the wall or door frame is unlevel, there could be bigger issues.
"Sometimes that's termite damage and the area is week and it moves every time you walk on it," he said.Plus, make sure to take a close look at the outside of a home.
"Your gutters not being clean can cause all kinds of problems," said Dixon. "The can drain on the ground and the water sits on the foundation and goes in the crawl space and when you go in there, you'll find water.
"With a little help, Barrett figured out one of the homes she looked at didn't have any of those problems, it had that all important garage and one other dream item that made her realize her house hunt ended at its front door.
"I had always pictured rocking chairs on the front porch and I absolutely love that area," said Barrett.Jennifer Barrett will close on her house Thursday and take advantage of the $7500 tax break offered by the government to first time homebuyers. But before she even made an offer on that house, she had a full inspection.Experts say that's a good use of your money. A certified, insured and trained inspector can see problems most homebuyers would never notice.
Here are a few more pre-inspection tips:
1. Look around the neighborhood. If all of the other homes have new roofs, there might have been hail damage in the area and the house you're looking at might have untreated hail damage, too.
2. Are there a number of homes for sale in the neighborhood? You might wonder why so many people are wanting to leave the area.
3. Take a big sniff of air inside and outside the house. If you smell something unusual, ask about it. If all you can smell is potpourri all over the house, that could be a red flag, too.
4. Watch out for do-it-yourself jobs. It might look okay, but have problems lying underneath, especially in those jobs that include wiring or plumbing.
5. Cracks in the concrete outside the home aren't unusual in Missouri, but if there is major settlement where water is getting underneath that concrete it could cause it to become hollow and dramatically settle.
Tuesday, August 26, 2008
When buying foreclosed home, home inspections can be critical
When buying foreclosed home, home inspections can be critical
By Ed Egger
Inside Tucson Business
Friday, August 22, 2008
Caveat emptor is always a good policy for all buyers, but that’s especially the case when buying a foreclosed home.
About 30 percent of foreclosed homes being sold have extensive damage caused by the former owner or renter, says William Craft, local franchise owner/inspector for HouseMaster Home Inspections, the country’s oldest and largest home inspection franchisor.
A trained engineer who has been doing home inspections here for the past six years, Craft said the home inspection is more important than ever when buying a foreclosed home. Craft was a commercial and industrial inspector prior to moving into the home inspection business.
"A renter may be upset because they feel the bank wasn’t straight with them or an original owner may have failed to do maintenance knowing they were going to lose the home," Craft said.
"They may have failed to change filters, or there may be a hot water heater or a furnace that no longer works or a flat roof that hasn’t been maintained."
And when there is a sign in front of a home indicating it is in foreclosure, that’s a signal to outsiders that it’s probably not occupied—an invitation to vandals, Craft said.
Usually it is a bank selling the foreclosed home, and Craft said banks aren’t bound by the same warranty provisions that bind sellers in regular home sales. Most likely, he said, the selling bank will refuse to make any repairs or fix any problems in a foreclosed home it is selling.
Craft said about two-thirds of all the homes his firm is now inspecting are foreclosed homes.
"People feel this is a time to get a bargain," he said, pointing to one home he recently inspected that sold in 2005 for $1.5 million, but recently was in foreclosure and went for $800,000. "Prospective buyers usually check out the location and what the neighborhood looks like, but they don’t always ask how old the furnace is or see other problems that can cost them thousands of dollars. Some of the damage in homes is a result of previous owners not performing normal maintenance."
Craft pointed out that the foreclosure process is often extended over six months and owners who know they are losing their homes no longer are interested in keeping the home in good condition.
And while sellers in a normal home sale want to avoid having a buyer come back after the sale and complain about problems that weren’t disclosed before the sale, Craft said, banks sell foreclosed homes on an "as is" basis and don’t worry about buyers coming back with complaints—they just want to get rid of the property.
"So the home inspection becomes really important in these cases," Craft said. "We usually do the inspection 30 days before closing the sale, so the buyer has an opportunity to know if he’s buying a big problem."
By spending $300 on a home inspection, Craft said, a foreclosed home buyer may save himself thousands of dollars. "It’s a little bit of an insurance policy for just a low percent of a down payment," Craft said. "It gives the buyer peace of mind knowing he has done due diligence."
Contact Craft at william.craft@housemaster.com or at (520) 531-1440.
By Ed Egger
Inside Tucson Business
Friday, August 22, 2008
Caveat emptor is always a good policy for all buyers, but that’s especially the case when buying a foreclosed home.
About 30 percent of foreclosed homes being sold have extensive damage caused by the former owner or renter, says William Craft, local franchise owner/inspector for HouseMaster Home Inspections, the country’s oldest and largest home inspection franchisor.
A trained engineer who has been doing home inspections here for the past six years, Craft said the home inspection is more important than ever when buying a foreclosed home. Craft was a commercial and industrial inspector prior to moving into the home inspection business.
"A renter may be upset because they feel the bank wasn’t straight with them or an original owner may have failed to do maintenance knowing they were going to lose the home," Craft said.
"They may have failed to change filters, or there may be a hot water heater or a furnace that no longer works or a flat roof that hasn’t been maintained."
And when there is a sign in front of a home indicating it is in foreclosure, that’s a signal to outsiders that it’s probably not occupied—an invitation to vandals, Craft said.
Usually it is a bank selling the foreclosed home, and Craft said banks aren’t bound by the same warranty provisions that bind sellers in regular home sales. Most likely, he said, the selling bank will refuse to make any repairs or fix any problems in a foreclosed home it is selling.
Craft said about two-thirds of all the homes his firm is now inspecting are foreclosed homes.
"People feel this is a time to get a bargain," he said, pointing to one home he recently inspected that sold in 2005 for $1.5 million, but recently was in foreclosure and went for $800,000. "Prospective buyers usually check out the location and what the neighborhood looks like, but they don’t always ask how old the furnace is or see other problems that can cost them thousands of dollars. Some of the damage in homes is a result of previous owners not performing normal maintenance."
Craft pointed out that the foreclosure process is often extended over six months and owners who know they are losing their homes no longer are interested in keeping the home in good condition.
And while sellers in a normal home sale want to avoid having a buyer come back after the sale and complain about problems that weren’t disclosed before the sale, Craft said, banks sell foreclosed homes on an "as is" basis and don’t worry about buyers coming back with complaints—they just want to get rid of the property.
"So the home inspection becomes really important in these cases," Craft said. "We usually do the inspection 30 days before closing the sale, so the buyer has an opportunity to know if he’s buying a big problem."
By spending $300 on a home inspection, Craft said, a foreclosed home buyer may save himself thousands of dollars. "It’s a little bit of an insurance policy for just a low percent of a down payment," Craft said. "It gives the buyer peace of mind knowing he has done due diligence."
Contact Craft at william.craft@housemaster.com or at (520) 531-1440.
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