Mistake #2: Failing to Get a Professional Home Inspection Part (2)
Unfortunately, the couple had spent most of their money buying the home and didn’t have funds for the major problems they encountered. Their Visa card took a hit for several thousand dollars as they replaced the furnace and upgraded the duct work.
Interestingly, Steve and Tiffany had erroneously felt that the bank’s appraiser would find any problems and list them on the appraisal. In reality, an appraiser is interested only in the overall value of the home and is hired to ensure that value is in line with the sales price. Instead, these buyers should have hired a professional home inspector.
The inspection report would have listed exactly what problems lurked under the rafters, joists, and in the dark places of the basement. They would also have found out the condition of the appliances, furnace, water heater, plumbing, electrical, and all the other important components of the home.
And if the inspection revealed problems, they could have used the inspection report to renegotiate the sale agreement or have walked away from the deal and gotten their deposit back. In reality, no buyers should buy a home without a professional home inspection. Never!
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