When do you get the inspection?

When does this happen? I know it is before you go to contract BUT wouldn't you be out of money if you got the inspection and then the seller out of the blue went with another offer???

Re: When do you get the inspection?

We did it before we went to contract. It was $500 but it was worth the money. You should do it before contract b/c if there are major issues with the house, you want to know so you can negotiate the price or pull out of the deal. My brother and his wife thought they found the perfect house/deal until they had the contractor in who found almost $100,000 worth of issues that needed to fixed ASAP! Better to be safe than sorry.

If you need someone I have a great guy! Spend 4 1/2 hours at the house and was so thorough!

Re: When do you get the inspection?

I got it right after the inspection was done - a paper copy and they also emailed it to us immediately.

Re: When do you get the inspection?

Re: When do you get the inspection?

You schedule an inspection once you have an accepted offer from the seller and usually after you signed a binder with the REA.

Re: When do you get the inspection?

You do it before the contract and after an accepted offer. Unfortunately, the seller can go with another offer in the interim. That's the risk you take but IMO totally worth it.

Message edited 10/12/2007 11:29:06 PM.

Re: When do you get the inspection?

Even if you pay for the inspection and don't get the house it's like an insurance policy on the largest purchase you will ever make. I would rather lose a few hundred than buy and have to spend thousands

Re: When do you get the inspection?

A deal is not a deal until contracts are signed by both parties.....the sellers have the right to take another offer after the inspection. However, IMO, the $500 is worth it bc otherwise you don't know what problems/things that need to be fixed in the house.

Re: When do you get the inspection?

Re: When do you get the inspection?

Re: When do you get the inspection?

Posted by scarletbegonia

Posted by pnm1654

You do it before the contract and after an accepted offer. Unfortunately, the seller can go with another offer in the interim. That's the risk you take but IMO totally worth it.

Exactly what I was going to say

Re: When do you get the inspection?

Not to mention, items that come up during inspection can allow for further negotiation.

And you can find out if there has been work done without a C.O. in that time period also.

I don't know if all inspectors will do this, but when mine found some really troubling things in the basement of the first house we had inspected, he stopped and showed it to me. We decided then and there that we were not going to continue the inspection and he only charged me half of what he normally would have.

So in the next house he inspected for us, he went to the basement first. When that was ok, we continued the whole thing and it turned out fine.

It is a risk - I lost a few hundred dollars doing the first one - but there's no way around it, unfortunately. The first realtor did say that if we had an accepted offer, inspected it, and then the sellers went with someone else, she would refund our money for the inspection.

Re: When do you get the inspection?

As soon as the offer was accepted we set up an appt for the inspection.

Re: When do you get the inspection?

You can do it before or after you sign the contract. We had an accepted offer and signed a contract, and scheduled the inspection after we signed the contract.

Our attorney told us that if it were a sellers market, he might recommend doing the inspection before we signed the contract, but in this market, my attorney advised it because he felt it kept the seller from taking an offer from someone else after we spent $$ on the inspection. BUT, as part of the contract, we had 2 weeks to back out for any reason without losing any of our DP, and the contract and offer was contingent on the results of the inspection.

We ended up not buying the house in the end, but didn't lose any money and I would feel comfortable doing the same thing again.

Message edited 10/13/2007 11:19:08 PM.

Re: When do you get the inspection?