8 Big-time Buyer Mistakes #6

Hello increasingly savvy Buyers,

#6 - Failing to have your prospective home inspected by a licensed inspector before purchase

Once you have found The One, we cannot stress enough the importance of paying for a professional home inspection.

First of all, Michigan law guarantees purchasers of residential real estate the right to an independent inspection, at the purchaserís expense, and that right is the most powerful option allowed for buyers through the contractual process.

Unless you are buying a brand new home, which has just gone through a battery of inspections in order to gain the Certificate of Occupancy (CofO), or you are buying a home that will be gutted or razed by design, a home inspection is your best protection against purchasing a ìlemon.î Remember, caveat emptor, ìBuyer Beware.î

You are going to be very busy and focused on the big picture - hire a knowledgeable professional to go through The One with a fine-toothed comb before you close on the property. A good home inspection will cost between $300 - $400, but considered as a percentage of the purchase price, that is the best ìinsurance policyî we can think of.

Your buddy or uncle who works in the construction trades cannot provide the kind of investigation and analysis that an inspector focuses on a property, no matter how good they are at their trade. An inspection is money well spent pretty much every time. Plus you will end up with the Mother-of-all-Honey-Do lists of items that you can work on for the rest of your days.

Ah, Honey-Do lists...

Last Updated: November 13, 2007