All Forum Posts by: Kirk Waldron

Hi Tod,

Usually the inspection is part of the offer process. You make an offer and then the offer is countered or accepted and within the "due dilligence" deadline, you will have an inspection happen. Many lenders will want an inspection/appraisal on the property to make sure everything is koshur for their lending needs as well. Once you have the inspection in hand, you can use that as leverage to request cash back for repairs off the purchase price, or you can ask for some items to be fixed by the owner prior to purchase. Brandon or David mention in an episode, that you don't necessarily say "fix this or the deal is off" but the implication when you mention an item in the inspection report is that if something is not made right, you could consider walking away from the deal. 

Ill use an example of a recent property i had under contract. This property had 3 fireplaces and the middle floor fireplace has a large crack in the stone at the back of the fireplace. There were also a few outlets that didn't have power. There were other things in the inspection but these were the main two that i was concerned about because you can't even use a wood burning fireplace with a crack like this one. I said to the seller, these two items are very concerning but the rest were things that I didn't mind taking care. etc etc.

Hope this helps.

Hi Peter, 

Great question. Anyone feel free to disagree, but if it were me, I would weigh the age and condition of the house as part of the consideration. I would also try to discover if the basement was finished by a licensed professional vs a rookie who doesn't know the ins and outs of DIY. I wonder if you can see if a permit was submitted to the city to have any work done? 

If the house is so old that it has ancient pipes that have never been serviced, or massive trees all around the house that could have roots burrowing into them, etc, etc. Then a warranty might be good. If it was built in the last 15 years and the owners lived there, i might not feel one is necessary. Im sure some folks are buying peace of mind no matter what the house looks like, which can be priceless. Just food for thought. 

Hey folks, just wondering who on this forum uses the group “rent to retirement” that’s advertised on the pod cast all the time? Wondering what your experience has been with them.