Posted by Greg (Dallas) on February 15, 2002 at 09:44:07:
Both! You should inspect them carefully yourself, in order to make a proper offer. Then, the offer should be contigent on having a license inspector check it out. This gives you on OUT if the inspector finds something seriously wrong.
Inspection before or after make offer? - Posted by KhadijaOH
Posted by KhadijaOH on February 15, 2002 at 08:34:47:
Hello, I recently looked at two properties with a realtor and one was in fair shape, the other had a wet basement with mold on backside of house and up the walls in basement. Should I get an inspection before I make the offer to realtor of after? Both are REO, one is listed with misinformation and no realtor sign in yard. Considering doing flip on one and L/O other once I find money to finance. Any suggestions are appreciated.
Re: Inspection before or after make offer? - Posted by Lazaro
Posted by Lazaro on February 16, 2002 at 20:25:34:
It is up to you. It all depends on what you are trying to do. I know some people that mail offers to LOTS of properties without even an inspection. They base it all off the numbers but with a VERY important Clause. The clause they use is ‘subject to satisfactory inspection by the buyer’. You could also use the clause ‘subject to my partner’s approval (That can be a spouse, cat, maybe even a fictional person…lol).’ If you are going to make lots of offers you may want and wait to inspect it AFTER your offer has been accepted. In a way this method cuts down on the amount of wasted time looking at properties that the seller won’t even look at your offer. This works but you have to make sure to put those clauses in the contract. Even if it is a ‘as is’ sale you can reject to buy it after you inspect the home. So you can still include that in your contract to make it appealing but you will still be able to reject it after inspection. That is the way I view this. Now you decide what you want and need. Good Look.
Cordially,
Lazaro
Re: Inspection before or after make offer? - Posted by dan
Posted by dan on February 15, 2002 at 13:41:26:
i would make the offer, unless it is being marketed “as is”, with a contingency that the seller is responsible for “defered maintenance.” Once you have your offer accepted … then spend the time and money for a good inspection. If the inspection uncovers costly problems … ask the seller to fix the problems, give you money to fix the problems or lower the price. I don’t spend to much time inspecting properties before I know I have an accepted offer.