home inspection

Performance Property Real Estate Question

3 Scary Pre-Home Inspection Red Flags To Avoid

Q: Gerald, my wife and I are looking at buying a home–we haven’t decided whether we want to live in it or rent it out but thought we’d ask if there are any red flags we should look for to avoid? Kendrick, Columbia, MD A: Great question, Kendrick. There are a few red flags that I use to disqualify properties to buy–here are 3 of them: 1. Property with leaking or compromised oil tank (expensive environmental hazard) 2. Property located next to gas station (expensive environmental hazard) 3. Property located next to dry cleaners (expensive environmental hazard) If you have experience resolving these kinds of issues, these conditions may present an opportunity for you as an investor–for example, I met […]

continue reading

Real Estate Tip

Gerald’s Real Estate Tip of the – Week of 5/16/17

Check references and get a sample inspection report before you hire a home inspector.

continue reading

Gerald’s Real Estate Tip of the – Week of 9/6/16

Make clear to your home inspector that you’d never hire him to do repair work on your property. Otherwise, he may try to inflate or invent problems with your property in his inspection report and then try to get you to hire him to do the repair work.

continue reading

Gerald’s Real Estate Tip of the – Week of 8/2/16

Make sure any contract you sign to buy a house has an inspection contingency that provides you more than enough time to get a thorough property inspection.

continue reading

Gerald’s Real Estate Tip of the – Week of 6/14/16

Get a thorough home inspection before you buy real estate and get one before you pay for an appraisal just in case the inspection reveals something so major you decide against buying the property.

continue reading

Gerald’s Real Estate Tip of the – Week of 5/5/15

When you’re buying a property attend the home inspection, ask lots of questions and listen so you don’t misinterpret what’s written in the inspection report.

continue reading

5 Nightmare Home Problems Home Inspections Won’t Find

Q: Gerald, I set up an appointment with a home inspection company to inspect a property we are buying. What items does a home inspection cover or not cover? Janice, Charlotte, North Carolina A: Janice, I’m glad you plan to pay for a home inspection—that’s the smart choice. The focus of a home inspection is on 3 broad areas: the structural, mechanical and electrical condition of the property. So, your home inspection should uncover structural, mechanical or electrical problems in the property you’re buying. However, the inspection is not designed to detect all flaws or problems that might exist in a home. I’m going to list 5 items a home inspector’s standard practice typically does not include: 1) Asbestos 2) […]

continue reading

How much should I pay for a home inspection?

Q: Gerald, as we continue to search for a house, we’ve decided to take your advice and pay for a home inspection. How much should we pay for a home inspection? Brook, Flanders, NJ A: Brook, you’re smart to get a home inspection. The cost of doing a home inspection will vary from place to place, but I’ve found throughout the US, most home inspections cost between $350 and $550. I’d shop around, but the experience and competence of the inspection company is more important than the cost. I’ve been investing in real estate for 15 years and I still pay for home inspections when I buy just to benefit from another set of eyes. You may be able to […]

continue reading