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PDX LIFE Get Real: Are Home Inspections Worth The Time And Money? | by Ken Reetz FiveBestHomes.com Jason and Kim checked out one of the new local home developments recently and promptly claimed one of the lots for their new home. The exclusive home builder for that community is one of the largest home builders in the country and has a reputation for building quality homes, so they never expected the nightmare they were about to face. Most people would assume that buying a home for $550,000 would be an automatic guarantee of quality craftsmanship, and that paying an extra $400 for a home inspection would be a waste of time and money. That would be a poor assumption. Jason and Kim acted correctly and had the home inspected early in the construction process; the inspection revealed several serious defects involving mold, roof buckling and the foundation. The builder promised to correct the defects, but the re-inspection proved otherwise. In spite of that, this particular builder tried to use their considerable muscle to force the sale or make Jason and Kim forfeit over $35,000 already paid in various deposits. Luckily, these shrewd buyers could rely on the two home inspections (a small investment compared to what they could have lost) to legally stop the transaction and get their deposits back. Note here that most independent and local builders are quick to address legitimate problems because they would be out of business if they refused. Most larger builders also live up to their reputation, but in every case it is wise to have the home inspection linked directly to your right to cancel the transaction. If the home inspection is important to have on newly built homes, it is doubly important when purchasing pre-owned homes. You may be tempted to forgo the inspection if you’re handy with a tool belt or make a living in construction, but do yourself the favor of assigning this risk to an independent professional. Not only does a home inspection give you more negotiating power, it’s hard to beat the thorough, three-hour point-by-point check-up of a professional. In addition to alerting you to common concerns like mold, decaying roofs and unstable foundations, your inspector should also look for signs of any remodel or repair work and be able to verify that the proper permits and inspections were done at that time. This is especially important in matters of electrical work. If you’re lucky, the inspection will turn up a well-constructed house ready for you to turn into a home. If that doesn’t happen, however, buyers who are not satisfied with the home inspection are able to walk away from the transaction without losing any of their earnest money. Of course, you may negotiate repairs or concessions if you’re desperately in love with the house, but it’s comforting to know that you won’t be forced into a transaction when defects are revealed and a remedy cannot be successfully negotiated. The safest bet is to work with a Realtor, who will make sure that proper forms are used in the Sales Agreement, including a contingency for a home inspection. You may not want to come across as a demanding or paranoid buyer, but in a real estate market full of horror stories—bat infestations, faulty electrical systems, crumbling foundations—you can never be too careful. A home inspection is a must. 20 PDXmagazine.com / August 2006
August 2006 / PDXmagazine.com 21
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Page 4 and 5: 12 18 33 56 58 Table of Contents Up
Page 6 and 7: EDITOR’S NOTE My friend recently
Page 8 and 9: UP FRONT PDXPLAINED STREET SPEAK!!!
Page 10 and 11: UP FRONT On the Hot Seat with Tom D
Page 12 and 13: THIS MONTH Get Outta Town Quick Nor
Page 14 and 15: THIS MONTH OSF’s Elizabethan Stag
Page 16 and 17: THIS MONTH Gold Beach Harbor 3015,
Page 18 and 19: PDX LIFE It’s a Dog’s Life Port
Page 22 and 23: NEIGHBORHOOD Upper Burnside & NE 28
Page 24 and 25: NEIGHBORHOOD or all of them eventua
Page 27 and 28: FOOD Smokin’ Hot Portland is a Ba
Page 29 and 30: FOOD Big Daddy’s ribs www.pdxmaga
Page 31 and 32: FOOD North Beaterville Café 2201 N
Page 33 and 34: DRINK Where Did All the Cowboy Bars
Page 35 and 36: DRINK photo: Tim Sugden Thunder Ran
Page 37 and 38: DRINK August Pick of the Month The
Page 39 and 40: PERFORMING ARTS others shied away f
Page 41 and 42: Theater Portland Center for the Per
Page 44 and 45: PREVIEWS SET LIST Upcoming Live Mus
Page 46 and 47: MUSIC Acme 1305 SE 8th Ave, 230-902
Page 48 and 49: PREVIEWS ON DISPLAY Upcoming Art Sh
Page 50 and 51: FILM Indie Film Calendar Cinema 21
Page 52 and 53: SHOPPING Shop Like an Animal by Nat
Page 54 and 55: Shop Talk August is a time to close
Page 56 and 57: HEALTH & FITNESS Ping-pong at Billy
Page 58 and 59: OUTDOOR Three Pools Oregon Oasis st
Page 60 and 61: SPORTS Loren Roberts Par for the Co
Page 62: Top Ten Places to Stay Cool August

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