If I have a home appaisal , do I still need a home inspection???? Please Help!

yan_-yi

I have a full home appraisal report on the property I was trying to purchase, everything turns out OK, but I am still afraid.

Do I have to hire a home inspector to inspect the house again? I have so much problem to turn all the utilities back on. I don't know how to deal with all these. And I am not sure if I can trust the appraisal report.

Please give me an idea.

Thanks.

who give you the appraisal report? The first thing is get inspector to inspect the properties. You can walk away if there is major problem.

yan_-yi

The person who did the appraisal works for the HUD and the bank as well. The Hud give me the appraisal report.

I was trying to get the house inspected also, but they want me to pay for the utilities turn on.

Thanks.

It looks like bank owned house. The listing agent should pay to turn on all the utities. They don't turn on the utities then you can ask more Dudeligent date since you cannot inspect the property. Your job is find the inspector who can give you the report within Dudeligent date so you have chance to walk away from the contract. The appraisal report can be use to apeal property tax later on. Inspector is the one find all the hinden problem for you.

BlueSky

These are two completely different things.

Appraisal is to determine whether the price offered is worth the market value of the house.

Inspection is the evaluation of the condition and problem of the house itself, such as the utilities (as you've mentioned), foundation, structure, grading, mould, etc from architecture and technical stand-point.

So if there is no major issue but minor fixes, you have the right expectation what to fix and what might be the cost. On the other hand, if a major problem turned out, you can walk away. That would then save you ton's of money and trouble.

If I were you, I won't skip the inspection.

Thanks for the professional advise.

I have talked to my agent about it. She told me that I had to pay for the utilities to turn it back on and turn it off as well, all the charge will come up to $600 just for the home inspection.

I got so confused. Are they supposed to pay for all theses?

Thanks so much.

BlueSky

引用第5楼游客于2011-05-19 18:14发表的 回 4楼(BlueSky) 的帖子 :
Thanks for the professional advise.

I have talked to my agent about it. She told me that I had to pay for the utilities to turn it back on and turn it off as well, all the charge will come up to $600 just for the home inspection.

I got so confused. Are they supposed to pay for all theses?
.......

It's usually out of your own pocket. However, any business transaction is negotiable. You can ask your agent to split a portion of her commision to you to cover 50% of the inspection fee upon closing, and use that as part of your payment. But you have to put that into writing before the closing date.

Hope this helps.

You can have your agent to print out PCR & PCS under your subject property at hudhomestore website for you in order to make a decision if you will need to order your own inspection.
All HUD homes have their own property condition report (PCR) has done by HUD inspector before listing on the market. The items cover from HVAC, Electric supply, Built-in appliances, Water supply, Sanitary & plumbing system and Roofing in acceptable...etc.  If all items are under YES functionality and most likely you won't need your own inspector to do the inspection again. (Don't take my word for it.. Depends on the age & the conditions of your purchase property).  
Property Condition Summary (PCS) has escrow descritions. The escrow items are listed any damaged places total estimate cost to put into escrow amount which HUD will make no repairs. Therefore, you will get a picture of repair items and the cost you will need on the HUD home you are buying.

Hope it helps.
Thanks.

Heidi Wang
Associate Broker
Crye-Leike Realty Inc
http://heidiwang.crye-leike.com

yan_-yi

Thanks a lot.

I do get the report from the HUD. Everything turned out good. I think I have nothing to worry about now.

Thanks so much for your professional advise.

ding