Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
How Do I Get The Building Inspection Reports
hello
i am thinking about moving to Chicago and looking for a home these days. The question i have is how do i get the building inspection reports for the properties i see? A couple of houses that i am seeing the owners already have some reports but the question is can i trust those? Or should i get them done all over again? Also any specific services regarding Home inspection that i can use in Chicago Also what kind of reports do i need? I have lived on rent my entire life so a little new to all this and want to make sure that i do not end up wasting money on things that are not needed.
Re: How Do I Get The Building Inspection Reports
When you find a property that you're ready to make an offer on, you would make your offer and upon acceptance, the bank will order an inspection of the property.
Our inspection was done a week after we accepted the buyers' offer. Report came back 5 days later.
Depending on what comes back in the inspection, you can negotiate the price to cover any necessary repairs or items that aren't up to current code.
This is not how it has worked each time I have bought. I made an offer contingent on inspection and financing. Then, once we were under contract, I set up an inspector to inspect the property and give me the report. The bank then sets up the appraisal to occur. I have never had a bank set up my inspection. Maybe you have to do this for a different type of loan but for a conventional loan this is not how it is done.
Ditto the PP about then using the report to go back and renegotiate for repairs or credit if necessary. I would never rely on someone else's inspection report, those could easily be altered or their inspector could just be incompetant.
We had a sale fall through, both she and the second buyer got inspections. The inspector found different things on each report. I don't know if the first buyer's inspector put her in a panic, her agent gave her unreasonable expectations, or both but she wanted all sorts of crazy things and the second buyer (that actually closed) wanted stuff that cost us about a hundred bucks for a handyman to do.
Anyway, I'd get an inspection even if the sellers already had one. Different inspectors will pick up different things.