Monday, November 19, 2007

How to Really Mess up a Home Inspection

My friends just found what they believe is the FSBO deal of the century. It's a big home, probably six bedrooms and four bathrooms. It's in a pleasant, well-groomed neighborhood with homes ranging from 500-600 grand. The houses could best be described as McMansions. You might have heard of these massive shelters that fall somewhere between practical and ostentatious, well-built and shoddy. Their big selling points are, typically, granite counter tops.

The one they want to buy is selling for about $150,000 less than the areas comparable sales. It seems like one heck of a deal, or so we all thought, until their buyer's agent told them that they didn't need to be present at the inspection. She said it in such a way as to convey convenience. In a "Oh, don't worry, you go get some expensive coffee and we'll take care of it" kind of way.

I didn't know about this until they showed up at our house with Starbucks. I asked them what they were up to and they said they were waiting for their home inspection to finish. I told them I hoped the technical, structural and overall integral overview of the BIGGEST INVESTMENT THEY'VE EVER MADE included a twenty-minute recess, because they needed to be with the inspector at the inspection of the Jenga stack of sticks and bricks they were about to pour $420,000 dollars into.

Nope. They were following their agent's advice. I told them if they really wanted to part with their hard-earned money on a potentially very bad investment they could just buy me at 52-inch flat screen and a lifetime supply of Pabst Blue Ribbon. BECAUSE HERE'S THE DEAL FOLKS...never, I MEAN NEVER EVER, ditch the inspection. Yah, sure you can, if you want, and if you're a money masochist. Then sure.

When you are at the inspection of the home--you know, the roof you hope will provide shelter from the elements and such--you get to ask questions about it's durability and even learn important things like if it will electrocute you when you pee barefoot. Another reason to attend the inspection is to find angles for negotiation. The furnace needs updated? The windows are old? Well now you can go back to the seller and get an even better deal. Or you can make the sale contingent on the replacement of these items. Yet another option is having the home's purveyor throw in a home warranty that covers all the appliances. These benefits can all come out of an inspection.

Yes, it's true, you will get an inspection report that explains the same things, but when you're with a certified National Association of Home Inspectors inspector, you can ask this valuable source of information questions face to face. And once you've closed and in the home you'll be standing over an overflowing toilet wishing you had.

So no matter what you're buying, an old Victorian or a brand new build, find an experienced NAHI inspector and spend as much time as possible with him or her.

And have you're real estate agent bring the coffee.

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Sunday, February 11, 2007

Homebuyers Surf to New Homes

If there were any organization shaken by the huge increase in home shoppers going online for a new home it would be the National Association of Realtors. Look at what Beth Potter of the Denver Post reports NAR found in their latest online real estate survey:

"With about 80 percent of all homebuyers now turning to the Internet for help while they shop, Realtors are finding their own ways to take advantage of the trend."


The real estate agent is still more important than ever as
"36 percent of buyers first learned about the homes they bought from a real estate agent, compared with 24 percent from the Internet."

The latest NAR numbers just go to show how the web isn't infringing on the traditional real estate transaction, but working quite harmoniously with it. That's assuming the real estate service provider is taking advantage of the online opportunity.

One simple way to stay atop the Internet wave is with your own fully branded, interactive website. Many online real estate shops are coming up with applications that
capture, maintain and even contact leads, but take a look at MyAgent Tools and see how MyREALTY.com can help you.

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