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Beginners Real Estate Investing Guide
Real Estate Investing - Ask
Questions Before Making an Investment
First Time Real Estate
Investor
Real Estate Investing - Planning
Your Investment Strategy
How to Find Real Estate
Investment Properties
Getting a Professional Home
Inspection
Large Profits From Inexpensive
Real Estate Repairs
Real Estate Investing - Costs
and Fees
Real Estate Insurance
and Risk Management
Real Estate Investment Risk
Part 1
Real Estate Investment Risk
Part 2
Getting The Best Return For
Your Investment
Creative Financing
For Real Estate Investors
Real Estate Investment Tax
Considerations
Real Estate Rental Properties
- Great Investment or Nightmare
Real Estate Foreclosures - Great
Deal or Headache
Flipping Real Estate for Profits
Slow Return On Real Estate
Investments
Negotiating for the Best Possible Real Estate
Deals
Real Estate - A Time to Buy and a Time
to Sell
Creating Your Real Estate
Investment Strategy
Investing and Growing
Your Real Estate Portfolio
Commercial Real Estate
Investing
Real Estate Marketing
Understanding Real Estate Law
Do You Need An Real Estate Agent?
What The Real Estate Mortgage
Lender Sees
Do You Have A Career In Real
Estate?
Rural or Urban Real Estate
Investments?
Real Estate Investing on the
Internet
Real Estate Investing
- Property or Paper? |
Real Estate Investing - The Importance of Getting a Professional Home Inspection
Real estate can be found in a variety of conditions - from the very bad to
the very good. Real estate is an investment, and as with any other investment,
you need to know exactly what it is worth before taking the plunge. This
means that you need to know the market the property is located in, and any
flaw that is associated with the property.
Unfortunately, most of us are not skilled enough to know what to look at
when we are looking for flaws in a property. Even so, when you make any deal
to purchase property, that deal should be conditional, and it should state
that you have the right to back out of the deal, and that all monies will
be returned to you, if the property turns out to be unsatisfactory after
a professional home inspection.
The first type of inspection that should be done is by a pest control company
- not a professional home inspector. Home inspectors do not check for termites
or other pests. The pest control company should know that you are considering
purchasing the property, and that you want them to check for termites, mice,
and ants, as these pests can really wreck havoc on walls, floors, and wiring.
The professional home inspector should be called next, if everything checks
out with the pest control company. Home inspectors will check every aspect
of the structure, starting at the foundation, and working their way to the
roof. They look for cracks, and check the levelness of the home and foundation.
They check to see if there is the potential for water to stand on the property
as well, such as after a rainfall. They also check for mold and mildew.
Home inspectors use several different tools, such as powder and lasers, to
check for the soundness of the structure. They may even use meters to check
for radiation or gas leaks. A home inspector will check the flooring, joints,
angles, and even judge the materials used. They do the same with the walls,
checking the framing and materials used, and of course, they look for any
damage, or potential damage.
The home inspector even checks inside the walls and looks for non compliant
construction, and takes a look at the plumbing and electrical systems to
ensure that they are up to code standards and not damaged. Pipes are inspected
for rust, lead or other problems, and leaks are found a well. They will even
measure water pressure and flow rate of water.
Faulty wiring can be found by a home inspector. They will note any uncovered
outlets and switches, and check for proper grounding. They will look at the
circuit breakers to ensure that they are up to par as well. The
home inspector will go up into the attic, and again check framing, angles,
and the strength of the framing. They check for water leaks, and even air
leaks in the attic, and look for holes and proper seals around ventilation
pipes.
Finally, the home inspector will go up onto the roof, to check for loose
tiles, holes, rotten wood, and other potential problems. Back on the ground,
they will check all outdoor faucets, the heating and cooling unit, and air
ducts. Back in the house, they will inspect all built in appliances, including
the water
heater, to ensure that they are working properly, in good condition, and
that they meet code regulations. If a fireplace or wood stove exists, that
is checked as well, and if propane is used, that entire system will also
be gone over.
Again, the home inspector checks everything - from bottom to top and back
down to the bottom again. While this service can cost a few hundred dollars,
it is a highly valuable service that you should be happy to pay for. Think
about the costs of repairing - or replacing a roof! A good home inspection
can help you avoid purchasing a home that is not in good repair - or not
safe at all!
If the home inspector finds flaws, you can often work out a deal with the
seller to have the problems fixed - at their expense. You could also go the
other route, and use the flaws to lower the sale price, and then fix the
problems yourself after the purchase.
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Beginners Real Estate Investing Articles
How to Advertise a Rental
Property
How to Build Equity
in any Real Estate Market
How to Find Motivated
Sellers
Developing a Profitable Real
Estate Investing Strategy
Bird Dogging: Getting Started in
Real Estate Investing
Buying Your First Home
Using Lease Options to Purchase Real
Estate
Real Estate Foreclosures
Increase Your Net Worth Through
Real Estate Investing
Interest Only Mortgages
Real Estate Investing
No Money Down Real Estate
Investing
The Power of the Lease Option
Real Estate Investing Tips
Real Estate Investments
Refinancing Your Mortgage
Loan
Paying Your Mortgage
Selling Your House without a
Realtor
"Subject To" Real Estate
Financing
Using Trusts as a Real Estate
Alternative
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