April 9th, 2022 3:32 PM by Linda Holley
Inspect. Always. Inspect. In this market, buyers frequently submit offers to purchase homes and waive home inspections. It does make their offer attractive to sellers, especially if the home has issues. Buying a home without getting it inspected is like meeting your blind date at the altar. You later learn that your new spouse has eight kids, three are in prison, he/she has bad credit, is on Prozac, and your mother-in-law is moving in.
Get the home inspected. Buyers can get a one- or two-day inspection period and if they walk away, the home will be back on the market.
My first Florida home sale was a $1.1 million waterfront home sold "As-Is" in the Sanderling Club on Siesta Key. The buyer was an investor and he refused to "pay money to listen to a home inspector nit-pick the home." He had bought other investment properties and knew what to look for, he said. OK, so I got him to sign an inspection waiver. When the elevation survey was being completed, a young lady with the survey company got her high heel caught in a hole in the wood floor of the dining room. How ironic is that? We looked closer, and there was evidence of wood rot and termite damage. The seller tented the 6,800 sq ft home and then tried to pass the $8,000 bill to the buyer at the closing table because the home was sold "As-Is." Not on my watch! I already knew that there had been a termite treatment after the home was put on the market--which the seller chose not to disclose! My buyer did not pay for that $8,000 termite treatment.
Yesterday I attended a home inspection on a small investment property purchased by some friends. They were getting a good deal because no Realtors were involved, and the seller was not paying a real estate commission. My friends are new investors and asked for my help. I confirmed that the price was right and said to inspect right away, which allows time for any follow-on inspections. Here's the results of that inspection:
1. There is a dip in the front yard from an abandoned septic tank. Will need a follow-on inspection by a septic company. Does it need to be destroyed or filled in? Safety issue for kids and pets.
2. The electric service cable is too close to the above-ground swimming pool. Safety issue!
3. Damaged concrete beam in carport area. Should be looked at by a structural engineer. $$$.
4. The converted lanai is not insulated (temp 86 degrees at 10:30 a.m.) and the ceiling is sagging. - $$$.
5. The electrical wire for the clothes dryer was exposed (no conduit). Safety issue!
6. Many window balance rods are defective, so windows do not open properly.
7. Vinyl siding was loose in several areas.
8. The roof did not pass inspection.
9. Good news is that the appliances and AC were in working condition.
This shows the value of getting a good home inspector during your due diligence period.
Call Linda Holley, Realtor, GRI, SRES, Fine Properties, 941-914-4914, for your real estate needs in Sarasota and Venice Florida!
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.