Due diligence!
- Thread starter larolargo
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Depends how "quick" the deal is. Where we`ve flipped via assignment of contract, no other inspections, that was left to the ultimate buyer. If it`s a deal where we`ll actually take title, then yes, I want to know what we`re getting, even if we plan on a relatively short term hold. I don`t want any nasty surprises and have a "quick turn" become a "long headache".
QUOTE (JimWhitelaw @ Nov 16 2010, 07:06 PM) Depends how "quick" the deal is. Where we`ve flipped via assignment of contract, no other inspections, that was left to the ultimate buyer. If it`s a deal where we`ll actually take title, then yes, I want to know what we`re getting, even if we plan on a relatively short term hold. I don`t want any nasty surprises and have a "quick turn" become a "long headache".
The type of deal that I meant is to buy with AFS(no money) and sell with lease to own.
You are right! It`s better to pay a home inspector in the beginning than to have a big surprise when you close with a tenant/buyer.
Thank you Jim!
Mario
The type of deal that I meant is to buy with AFS(no money) and sell with lease to own.
You are right! It`s better to pay a home inspector in the beginning than to have a big surprise when you close with a tenant/buyer.
Thank you Jim!
Mario
- Joined
- Oct 22, 2007
- Messages
- 1,188
QUOTE (larolargo @ Nov 16 2010, 11:29 PM) The type of deal that I meant is to buy with AFS(no money) and sell with lease to own.
You are right! It`s better to pay a home inspector in the beginning than to have a big surprise when you close with a tenant/buyer.
Thank you Jim!
Mario
I would do an home inspection on any real estate purchase where I become liable for the property. Home Inspection, Building Inspection, Condo (Strata) Documents Review unless you are already intimately familiar with the condo complex. When you suspect environmental issues just run for your life - because that is how long it may haunt you when you ever go on title.
It seems there are always surprises with a new purchase and you should know as detailed as possible what you are in for. This is like insurance - do you drive a car without insurance? Only problem is that if the inspector fails to find a problem at the time of purchase you are still on the hook with the exceptation of a `material latent defect`
A major defect that is not obviously observable such as a hole in the basement hidden below a carpet. Such matters have to be disclosed by the owner (and the owner`s Realtor if one is involved).
You are right! It`s better to pay a home inspector in the beginning than to have a big surprise when you close with a tenant/buyer.
Thank you Jim!
Mario
I would do an home inspection on any real estate purchase where I become liable for the property. Home Inspection, Building Inspection, Condo (Strata) Documents Review unless you are already intimately familiar with the condo complex. When you suspect environmental issues just run for your life - because that is how long it may haunt you when you ever go on title.
It seems there are always surprises with a new purchase and you should know as detailed as possible what you are in for. This is like insurance - do you drive a car without insurance? Only problem is that if the inspector fails to find a problem at the time of purchase you are still on the hook with the exceptation of a `material latent defect`
A major defect that is not obviously observable such as a hole in the basement hidden below a carpet. Such matters have to be disclosed by the owner (and the owner`s Realtor if one is involved).