Folks who are buying Carlsbad real estate, or anywhere for that matter, owe it to themselves to do a thorough investigation of the property they wish to buy. This is not new news, or shouldn’t be.
Most REALTORS strongly encourage buyers to hire a home inspector to investigate the home they are trying to buy and part of the due diligence process. To not do so is foolhardy, in my opinion. We even have a disclosure here that advises buyers that to not conduct such an investigation is going against the recommendations of the agent. But sometimes folks don’t listen.
With the market we are in, this becomes even more critical, given the number of short sales foreclosures, and bank-owned properties (REOs). Since these homes, and sometimes others, are sold AS IS, a prudent real estate buyer will want to know what they are getting themselves into before signing on the dotted line.
My experiences with home inspectors have been pretty good, although I know there are some who are not so competent. And let’s face it they are normally not trades people so their inspections may be less thorough than, say, a licensed plumber. Nor should they be expected to be as knowledgeable. Plus there are always those darned disclosures and disclaimers.If they recommend further evaluation, it is probably wise to listen.
The point of all this is to ask whether you, Mr. and/or Ms. Carlsbad Buyer, are really doing as thorough an inspection as you should. Or are there cases where more is needed?
A few examples:
- A home inspection for buyers back east (this was a home with a basement, mind you) indicated problems with the foundation. Potentially serious problems since the house looked like it was leaning. Further evaluation was recommended. We brought in a structural engineer top evaluate the problem, which indicted a need for significant improvements. Next step was bringing in someone with plenty of experience n repairing foundations. Estimated cost was in excess of $50K. Buyers decided to move on to the next house.
- A short sale property (sold AS IS, of course) yielded significant concerns about the electrical system, main panel, and miscellaneous wiring here and there. Buyers requested an evaluation of the electrical system by a licensed electrician; estimated costs exceeded $2000 to repair. Since it seemed the bank would not negotiate these repairs, the buyers said NEXT.
- A beautiful home had a pretty positive inspection save for a problem with the furnace. Seems it was a model that the inspector was not allowed to test. Rather than just assume it was working OK since the sellers reported no problems, an HVAC company was brought in for further evaluation. You guessed it – there are problems with not only the furnace itself but the brand due to past fire issues. Big safety hazard. Time to negotiate with the sellers to replace the furnace.
These are just a few examples of the importance of buyer due diligence. Most homes don’t have serious problems, and one should expect home inspectors to find issues in any home, even a new home.
Doing a thorough job in your due diligence can help you avoid serious, and potentially expensive consequences.
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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360
or email me at JDowler@remax.net.
All content copyright © 2007 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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