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 Where can I find "start up" money for flipping houses?
My husband and I work construction, and we will do the work ourselves. I just dont know exactly where to start due to use just buying a new house, and a truck for him, we cant get another mortgage. ...


 What can I do if my house is actually smaller than what it was listed as when I bought it?
My wife and I bought our house 2 years ago. It was listed at 1371 sq. ft. (also what the county has on record). Now we are trying to refinance to get out of our arm loan. Come to find out the house ...


 Mortgage problem please help?
I would like to known about the new program from the government that going to help to people with mortgage problem.my problem that I have is that I am behind six payments and my question is if that ...


 Do I still have to keep home insurance on a vacant home if I'm negotiating a short sale or can I cancel it?
I'm negotiating a short sale with the bank. Do I still have to keep home insurance on my house (payment included in the mortgage) or can I cancel my insurance and get reimbursed for the ...


 What's the difference between a condo and a townhome?
...


 Real Estate fraud?
A few months ago I was trying to buy a home but the lender could'nt come thru with my loan in time ant now I'm out of my 2000.00 deposit.I think this is fraud. What government agency do I ...


 We are renters, landlord is selling house out of the blue. What are our rights? We live in Ca.?
We moved into our house a little over a year ago, our landlord says she is selling our house. This is fine, but the questions I have are we obligated to let her show the house for future buyer while ...


 What would happen?
What would happen if i moved into an apartment that doesn't allow animals, but i keep my cat and move her in with me?
The only place i can afford right now is one that doesn't accept ...


 Is a pool desirable in looking for a new house?
I always thought that having an inground pool was a good thing and would up the resale value of a home. I recently saw an episode of "double agents" on tv where a couple was having trouble ...


 How can my daughter & I move from my parents home when the rent is impossible to afford in MA?
...


 How can i be evicted when i received no verbal or written notice??
went to wisconsin on the 30th of dec..called my landlady from my neighbors informed them i would be gone and going to see drs..that i may be gone 2 weeks.maybe 2 months or longer.as it depends on if ...


 How long does negative credit reporting stay on your credit report. late mortgage payments.?
Late mortgage payments, beginning of foreclosure procedures....


 Which is a better investment - Motor Home or Summer Home?
Can you tell me which is a better investment. Purchasing a nice 40 foot RV, which could be rented out for weekend trips or buying a summer home and renting it out. Can you give the pros and cons on ...


 Is a 7% APR on a 30 year fixed rate mortgage for a $137k house a good rate in Atlanta, GA?
I'm a first time homebuyer, so I'm not quite sure... It seems comparable, but I would appreciate any feedback......


 I will be moving out of my friend girls place on the 16th of dec: do i still pay the full amt of rent?
i mean i will be moving out and she set a pmt of 200.00 a month. the first month was last month and i paid the 200 but now this is dec and i am moving out on the 16th so should i still pay the full 20...


 I would like to buy a house in 5 years?
How much should I be saving? a month I am a student at the moment!...


 Renting vs buying a home or condo/townhouse?
I will be moving to Michigan soon, and am not sure if buying is better than renting. I will be 62 at the time I move, and plan to retire and work part-...


 Ohio foreclosure? please help?
can someone please give me a timeline? our last payment was due on march 15th.our mortgage is with chase bank.my husband lost his job and theres no way we can pay for this house.i just want to know ...


 If I put my name on a lease agreement with someone else, is our credit linked?
I need to get a roommate cause i can't afford rent. When they put their name on the lease, will their credit history be linked to mine?...


 Best place to get a mortgage refinanaced?
Want to refinance home for cheaper interest rate. any ideas?...



Brunei
Should I get a home inspection on a brand new place?
I'm about to purchase a brand new condo in Burbank, CA. The realtor has asked me to decide whether or not I want an inspection. So far I have read that CA home inspectors are not licensed, and they generally do not check for things like mold, asbestos, radon, rodents, lead, and wood-destroying organisms (about.com). I also have a 1 year waranty on the condo and brand new appliances. The inspection will cost around $200. Should I get one?
                     
 




Expert Realtor
Rating
I am a STICKLER on home inspections, but here is when paying for one is a waste of time and money:

1) If there is a local code enforcement that inspects the property at various stages, such as after foundation, footing, framing, etc. If the home didn't pass code, they would not have been able to continue building until they passed.

2) If there is a home warranty. One year is not the standard for new construction, 10 years is...I would ask the builder to purchase an additional home warranty and Old Republic is a company that I go through...mainly because they will actually pay if you have a claim...too many warranty companies will refuse to pay or find loopholes to get out of it.

The home isn't going to have mold being new, and asbestos hasn't been used in homes in many, many years. So if it's new construction, it doesn't have asbestos. Radon is only a concern if you have a basement. Lead paint hasn't been used in homes since 1973, and you need to ask for evidence that the home was TREATED for wood-destroying organisms...b/c all new homes should have a preventative termite treatment, and some local codes require it.

Keep in mind that unless you had an inspection contingency in your contract, an inspection will not lift your obligation to purchase the home, and if it's new construction, builders usually have written into the contract that if it receives a Certificate of Occupancy, then they can legally force you to close.

They also have written into the contract that anything an inspector will find will be fixed at the BUILDER'S discretion...again, that means they won't fix things that an inspector finds.

Builders are required to build TO CODE...code is a MINIMUM standard of construction...and an inspection, no matter how many "mistakes" they find, if they have built the home to code, you can't get out of the contract no matter what your inspector finds. People that tell you that you can don't understand real estate contract law.

It's sad that your Realtor didn't give you the pros and cons of an inspection.


Serena
Rating
Yes....yes get a home inspector. I bought a brand new house and there were 40 things wrong. With a home inspection...I could make the company who built the house fix the problems (their problems) without a cent coming out of my pocket. I would have paid an arm and a leg to fix those problems myself. If I had tried to sell my house to someone who hired an inspector...I would also be paying a lot of money to fix those problems. It's worth the $200, well worth it. You are investing a lot of money in your house...the inspector costs are WELL worth it. My friends bought a new house too and they hired an inspector. They found out there was a HUGE problem with their foundation. There house would have been unlivable the way it was (and they wouldn't have known it without an inspector.)


lilbagel21
yes .
my mom didn't do that with a new home and had a hard time with the people to come fix her house because it was uneven


daddyslittlegirl
Rating
You should always get an inspection done no matter what age the property is, as for the inspector not being licensed get your own inspector or ask around the area for recommendations on an inspector who is reliable and trustworthy and ask him to look for mold, asbestos, radon, rodents, lead and wood-destroying organisms but find out first what it would cost for him to do this before he actually carries out the inspection.


Good Luck


silvermouse5150
Rating
In my opinion and experience - YES.

I bought a newly built place and didnt think i needed to, but its definitely worth it. There are a whole lot of small things that you'll see after moving in, things that an inspector probably would have caught.

After the end of the 1st year, my warranty covered some of the things i saw that should have been taken care of before i purchased and the builder had to fix/repair it, but it was a pain in the neck and i had to schedule time off of work to be there.


Christiane
Rating
Yes, but it will probably cost you more. Make certain that you hire a reputable company!


~Brian~
If you choose to get an inspection, research your inspector. Ask for references from previous clients. Don't just rely on one that your realtor suggests. Spending $200 now can save you many times that later. Remember, for most people their home is the largest single investment that they will ever make. Do you really want to take someone's word on the condition of your home?


Mike
First: A property inspection that is performed by a competent property inspector will cost $400 to $500.

Any inspector that will perform the inspection for $200 is not competent and will do an inadequate inspection.

Second: Yes, you should inspect new construction. I have seen many mistakes made in new construction. The time to catch those mistakes is early in escrow.

A property inspection is the cheapest insurance that you can buy.

Third: It is true that home inspectors do not test for mold, asbestos, radon, rodents, lead andwood destroying organisms, thaose require different inspection with different inspectors.

I strongly recommend that you get the inspections.

They are the cheapest insurance that you can buy.


Dee
Rating
You should always get a building inspection, You also have 8 year warranty on the building. When you buy a new property it takes a few year for it to settle down and for the foundations to settle. Also when a builder builds a house they do not use it, which makes it more likely to find faults after you have moved in and found problems such as leaks.
Always inspect house on a rainy day

I would get an inspection as well as take pictures of all the walls and around the house in and out, In case you ever need to take the builder to court. The best of luck in your new place.
Dee


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