Real Estate Inspection

Real estate inspection must be done thoroughly before an investor purchases a real estate investment. Without proper real estate inspection, an investor may by a property that needs too much fixing for it to be profitable. Real estate inspection needs to be done before an offer is made because the cost of repair needs to be factored into the offer price for the property.

An investor may want to have more than one real estate inspection done. Choosing a real estate inspector is important so that you will get the most accurate estimates and findings, see How to Choose Real Estate Inspector. After the official inspection of the property, the real estate investor should then get quotes from general contractors as well as other specialized contractors to estimate how much it would cost to repair the property.

How is real estate inspection done?

A real estate inspector mainly look at the structure, construction, and mechanical systems of a house and will make you aware of the types of repairs that will be needed. Real estate inspectors check the safety and soundness of your home and can find things you did not see. He/she can also provide an estimation of how much it costs to repair issues found in the house. An inspector will use a real estate inspection checklist and mark all his/her findings on it.

Below are areas that may be on the real estate inspection checklist that the inspector will want to examine. See also Radon Testing.

• electrical system
• plumbing
• waste disposal
• insulation
• ventilation
• water heater
• air conditioning
• heating
• water source and quality
• pests presence
• foundation
• doors
• windows
• ceilings
• walls
• floors, and
• roof