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An Inspection Checklist For Real Estate Investors

Aug 17, 2007
Imagine you move into your new home and the roof starts leaking during the rain, or there are cracks on one of the walls of your living room. To avoid such incidents, it is always wise to inspect your real estate before spending hundreds of thousands of dollars to buy it.

Doing The Inspection On Your Own
It is best to do the inspection on your own in order to get a better price for the real estate. You need not learn the technicalities of building to check out errors. Anybody can figure out if the home needs repairs, or if there is something wrong with the drawers and sinks. Moreover, bring along a professional home inspector. 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 must 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 numerous things to check. You may find too many flaws to remember without a checklist. Your checklist and notes will help you during negotiation with the real estate seller.

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 out for free.

An Example Of An Inspection Checklist For Your Home

1.The position of the propane tank.

2. Water logging spots around the house as well as the drainage system.

3. Trees and other plants that are posing a hindrance.

4. The condition of the paint.

5. The condition of the roof, chimneys, and pipes.

6. The alignment of doors and their locks.

7. The windowpanes and glass.

8. Cracks in the foundation and the height. These help to avoid the threat of harmful insects creeping inside the house. Cracks larger than 1/8 inch are a warning sign.

9. Condition of the driveway.

10. The support of the porches, their paint and the porch boards.

11. The doors and ventilation of the sheds.

12. Electrical fixings.

13. The sturdiness of the fences.

Places To Check
Inside the rooms, you should inspect the walls, ceilings, and floor for visible cracks. Check the cabinets, bathrooms, drains, fireplaces, faucets sinks, and lights. Check the garage too. Take your time and inspect every detail of the house. It is you, who must 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 to the seller to get a fair deal.
About the Author
David Gass is President of Business Credit Services, Inc. His company publishes a free weekly e-newsletter on Small Business Consulting at their web site http://www.smallbusinessconsulting.com
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