How To Protect Your Investment – Sherman Oaks Real Estate

by Mario Acosta on April 2, 2010

in Buyers, First-Time Home Buyers, Home Inspection, Investors, Local Topics

No Home Is Perfect

The DetectiveIt’s a fact of life that there is no such thing as the perfect home.  During my 10 years in Sherman Oaks real estate I have seen homes in various condition and states of repair.  In my opinion every home needs to be inspected by a qualified home inspector.  And in today’s market of short-sale and foreclosure property, home inspections have taken on greater importance.  Even when working with buyers who are contractors and knowledgeable investors, a home inspection is highly recommended.  A fresh set of eyes and an unbiased opinion provided by a home inspector is very necessary.

What Does A Home Inspector Do?

The job of the inspector is to do a general visual inspection of the major systems of the home (foundation, roof, plumbing, electrical, etc.)  The inspector is looking for non-functional systems, systems in need of repair or maintenance, sub-standard installation, and potential code violations and safety concerns.  A home inspector is paid to identify and point out to the buyer any significant problems regarding the physical condition of the home. An inspector should never work for or directly affiliate with a contractor who is providing estimates or repairs.  Although some inspectors do this, it is a serious conflict of interest.  It’s okay for an inspector to make referrals if the contractors have no tie to the inspector or the inspector’s company.

Do I Need Other Inspectors?

After a home inspection, a buyer will receive a verbal and detailed written report.  It’s important for the buyers to review the written inspection report in detail and if necessary (with the guidance of the buyer’s realtor) conduct follow-up inspections with licensed contractors such as roofers, plumbers, etc.  The follow-up inspections will help the buyer understand the full extent of any planned repairs and the cost of those repairs prior to closing the escrow.

I have closed many complex Sherman Oaks real estate transactions involving inspection and repair issues, both as a seller’s agent and buyer’s agent.  If you have any specific questions I can answer, please let me know.  I would love to hear about your experiences and feedback–so leave a comment below!

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Post by Mario Acosta

Mario has written 117 articles.

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