On 3 Mar 2005 11:58:28 -0800, someone wrote:

I guess I am not a "VERY critical detail oriented person". In that
case, just be sure to make a big list on paper, as a checklist, of
things to look at or for. These can be had online, I am sure...

If you know what you are doing, and besides are getting a "deal" on a
fixer, why bother. Whaddya gonna do, back out and lose your deposit
because of some little thing? Not like you're gonna be able to
renegotiate a "bid" on a HUD foreclosure.

Inspections are for: 1) people who really don't know anything so they
NEED an opinion from SOMEONE; 2) people who know a little but lack
confidence and need external validation of their decisions (so they
feel better).

Personally, I have never paid for an inspection. When I bought my
very first place at around age 22, I did have a colleague whom I'd
gone to architecture school with, come with me, he was a few years
older and had more field experience at the time. The building was a
total fixer with many many obvious and serious defects. (He concurred
that there was nothing insurmountable, I bought it, and later I made a
ton of money on it) I have never had an inspection since.

When I sell, I make clear that they can inspect all they want, but it
is take it or leave it, NO price renegotiation. I never claim that
the house is "perfect", only that it is "as-is", so there should be no
expectation of purchasing a perfect house for that price and no
further reduction is warranted for merely discovering that it is
indeed as-is. My experience is that inspectors typically try to find
enough to justify their fee.

I am not at all impressed with the abilities of the typical person
doing this type of work, but if the buyer is truly clueless, maybe the
inspector will at least have half a clue, so they do have a use.




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