They can help point out obvious defects and things that might need updating, but ultimately you'll need to pay a house inspector to do a full inspection to get a handle on what repairs are needed (when the roof will need replacement etc).

Hello BP,

I am a new investor and looking at a property that currently has asbestos, mold, and roofing repairs that are needed. The home is located in an area that could sale for 400K-435K if renovated properly. The ...

I've taken 70 pictures of property defects to assist me in demonstrating repair work needed on the existing structure.If the money people make an offer, the shortsale process will already be started.What you think?

If an FHA appraiser feels there are any major defects to the home, you will be thrust back into negotiations, and this is generally after the option period has passed.

You'll find out if the property is free and clear of any defects such as leins, easments, any judgements etc....

Here is the scenario.Due to a defect in the furnace it may have caused the a/c to run while furnace running causing a high electric bill.

If you want to keep the property as a rental for the long run, a defective title that has an issue that will likely never come back on you may be an acceptable risk.

. - just his handwriting).Check was given on the 28th day of the following month (2 days before due) and has not responded to calls/texts.I sent a demand letter with a reasonable request, asking for the full amount of the deposit because there were no defects when I moved out.

I have bought properties with defective title, when I understand the defect and the risk that it will come back to haunt me.

Somebody wanting to sue for you backing out of a bad deal or accusing you of selling them a property with defects like unknown termite damage).