Real Estate Investing: Inspection Check List

Imagine you shift in your new home and the roof starts leaking during the rain, or there are cracks on one of the walls of your living room. How does it feel? To avoid such incidents, it is always wise to inspect your real estate before plunking hundreds of dollars on buying it.

Doing the Inspection on Your Own:

It is better to do inspection on your own in order to get better price for the real estate. However, you need not learn the technicalities of building to check out errors. Anybody can make out if the home needs repairs, or there is something wrong with the drawers and sinks. Moreover, bring along a home inspector with you, inspecting on your own helps in negotiating with the sellers regarding the flaws.

Checklist for Home Inspection:

It is a good idea to keep a list of things that you have to check while looking around the house. Make notes of the things that are wrong. Do not depend on your memory in this case. There are innumerous things to check. You may find many flaws too. Your checklist and notes will help you during negotiation with the estate seller.

HUD’s Handbook for Minimum Property Standards:

HUD?s Handbook, illustrating the minimum housing property standards, comes in handy during inspection. You can order the handbook online. The HUD Direct Distribution System gives it free.

Inspection Checklist for Your Home:

? The position of the propane tank.
? Water logging spots around the house as well as the drainage system.
? Trees and other plants that are posing a hindrance.
? The condition of paint.
? The condition of roof, chimneys, and pipes.
? The alignment of doors and their locks.
? The windows panes and glass.
? Cracks in the foundation and the height to avoid the threat of harmful insects creeping inside the house. Cracks larger than 1/8 inch is a warning sign.
? Condition of the driveway.
? The supports of the porches, their paints and porch boards.
? The doors and ventilation of sheds.
? Electrical fixings.
? The sturdiness of fences.

Inside the rooms, you should inspect the walls, ceilings, and floor for visible cracks. Check the cabinets and bathrooms for drains, fireplace, faucets and sinks, and lightings. Check the garage too. Take your time and inspect every detail of the house. It is you, who have to live in it.

Remember, real estate inspection serves as a tool for negotiating the price with your seller. Do not sign any document before inspection. Dig out as many flaws as you can and present them before the seller to get a fair deal.

So, start pointing fingers!

Alexander Gordon is a writer for – The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.

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