Mistake # 10: Sloppy Buyers – Have the house professionally inspected.

In your agreement with the sellers, one of the conditions should be a favourable report from a house inspector. To find a good inspector, ask for recommendations, then make sure the inspector is certified (the home-inspection industry is not licensed or regulated). Ask how many inspections they have performed and what kind of report is provided to you (you might confirm how long it will take to get the report). Also ask if you can be present during the inspection. If they say no, find someone else.

The inspector’s job is to check the property and tell you what defects need to be repaired or replaced. Based on his report, you might want to walk away from the property or negotiate with the seller for repairs or an allowance for repairs.  In most jurisdictions, sellers are required to make complete disclosure of defects in writing. Make sure both you and your inspector have this disclosure.

That’s all for now. Stay tuned for mistake #11!

If you just can’t wait and you’d like to get the entire report revealing all 15 buyer mistakes, all in one shot, please visit my website.