Avoiding "unnecessary" expenses when purchasing

[Zac Vaughan]

Hey everyone! I am in the process of looking at properties to purchase. I recently had a duplex under contract that fell through at the 11th hour due to the property not being up to FHA standards. I spent $550 on inspection and another $600 on the appraisal. My question is, is there any way to avoid this. Like most people, I would prefer not to lose a good chunk of change for every property I get under contract that falls through. I appreciate any insight!

[Jeff Copeland]

1. Get good at doing "pre-inspections" during your initial walk through / viewing. Know the key items to look for (especially FHA property condition requirements).

2. Don't order your appraisal until after your inspections are complete and you are very confident in the property condition. 

3. Negotiate for repairs rather than canceling.