Quote:
Originally Posted by vailpass
Inspections. Not appraisals.
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Appraisals are ordered by the financing company but pre-Zillow/Trulia/Redifin, I paid for a few appraisals out of pocket for a few properties I considering purchasing.
As for inspections, they aren't the end all, either. We hired a supposedly "great" firm to do the inspection on our home but the guy missed all kinds of stuff, including a super leaky flat roof, a balcony that leaked into our laundry room and all kinds of electrical that wasn't even close to code.
When I asked our realtor about this crap six months after purchase, he said that there's nothing the inspector could have done because they're not allowed to perform any leak detection or electrical inspections.
Fortunately, we found all of the issues early on because we basically tore it down to stud, which is probably the same plan for those that are purchasing without inspections as well.