Inspecting Inspections for Houses

Ah, yes inspections. The necessary evil of the real estate world. The one thing that can take a “for sure” deal from imminent to inconclusive at the stroke of an inspector’s pen. We know sometimes they are a pain to deal with and if you are just getting started, it may be hard to understand which ones you need to have. Depending on where you are in the county will determine regional mandatory inspections. However, there are a few that seem to be prevalent wherever you are flipping houses. Let’s take a look at the most commons inspections for houses that are a must when investing in real estate.

Most Common Inspections

Termite–Most areas around the country will require a termite inspection. Termite control can become a costly expense  for your home owners if problems go untreated for years. This occurs because symptoms generally appear invisible to the untrained eye.  A termite inspection pays for itself with expense-saving prevention. http://homeguides.sfgate.com/home-inspection-termite-damage-2546.html

Septic–Not all homes will have a septic system; some will be connected to city sewers. Find out if there is a septic and have it inspected. Believe us, septic issues is not the type of crap you want to deal with when the buyers are ready to close the deal. Pun intended.

Whole Home –This is the big one. Major points include: The Structure, The Exterior, Roofing Inspection, Plumbing Inspection, Electrical System Inspection, Heating and Air Conditioning Systems, Home Interior, Ventilation, Appliances, Fireplaces. This can be a lot of information. What can you do with this data? Check back soon for the answers.

Structural — This one checks the foundation and supporting elements of a home like  floors, walls, columns and piers.  The important thing to keep in mind with this one is that if a buyer is not satisfied with the results he/she may terminate the purchase agreement  in writing and provide a copy of the structural inspection report.  Or the buyer submits a list of the problems discovered in the inspection and requests that the necessary corrections and repairs are taken care of  before the deal is closed, or adjust the price accordingly.

Radon--With The Surgeon General warning that radon is the second leading cause of lung cancer in the United States more and more home buyers are having this inspection done. Find out more at http://www.epa.gov/radon/realestate.html

Pool–If you have been keeping up on our Flipping Houses Series then you know about The Pool House. Pools when not properly maintained can be a true nightmare. Be sure if your potential flip has a pool to have it inspected.

All of these inspections for houses you are trying to flip are a great way to leverage the expertise of others. The point of inspections are to make your house safe and worry-free for your potential home owner. Having others do routine inspections for you will save you time in the long run. If inspections are done right in a timely manner, you will be able to forgo any potential problems at the closing table.

Be sure to check back later in our Inspection Series for a more in depth look at each of these inspections.

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Erik Hitzelberger has been Real Estate Investor since 2007. While learning the ropes in the market down-cycle, he now teaches others how to use his systems and leverage other people’s expertise to achieve their own goals.

Erik Hitzelberger – who has written 194 posts on Part Time REI.

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