Saturday, March 21, 2009

Is the Repo home sold as is, really a bargain?

Everywhere we look there are bank repos being offered AS IS for pennies on the dollar.
AS IS is far too often a great alternitave word for buyer beware.
Far too often a buyers thought is , if it's being sold AS IS why spend additional dollars on hiring a Professional Home Inspector.
Truth is that AS IS home that's been recently painted, had new carpeting installed, and all detailed to look like a new home may have hidden defects that can cost the new buyer thousands of more dollars to correct than the asking price of the home.

For less than $300.00, [ the low 1 time fee for an average sized home inspection] you can hire an unbiased State Lic. Certified Home Inspector, when you hire a Home Inspector your hiring the only person involved in the home sale that is required by state law to look beyond the new paint carpeting , excellent location etc.

Bottom Line:
An AZ Certified Home Inspector is the only person involved in the sale that has nothing to gain, and everything to lose, by not disclosing defects.
An Arizona Certified Home Inspector is only person required by state law to identify and disclose defects, as identified in the Standards of Professional Practice for Arizona Home Inspectors.

The majority of repo bank owned homes are less than 10 years old. For common defects not corrected, identified, or disclosed by builders on new homes, visit my webste Sample Report.