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Answers (6)
- S. Chris Webb, "PHX AZ RE BROKER"
- Contributions:411
Perhaps your real estate agent could take a video of the home inside and out for you, and by all means do a major walkthrough list that includes opening every drawer and cupboard, and lifting any throw rugs. When renting, even to the previous owner, you need to be very aware of the exact condition of the home when it comes time for the tenant to move on. They need to be held accountable for every broken item and hole in the wall, and you must be held accountable to return the deposits if the home is left in the same condition. You should also have the tenant do a walkthrough noting any item that is not in perfect condition. Please tell me you have acquired the services of a Property Manager to do this for you.
It puts a lot of liability on the part of your buyers' agent to ask them to do the walkthrough. Please do not hold them accountable in the future if they miss something you feel you would have noticed.
When the seller/tenant moves on, you will likely have many things to repair since you are signing off on the BINSR. Be aware that this could be a costly burden before you place your next tenant. Home inspectors reports typically do not pick apart cosmetic imperfections. Why not do repairs now, be a good landlord, and keep your investment in good shape?
Please read the bank's short sale conditions carefully to ensure there are no stipulations that the seller may not rent or buy back the property. That could put you and the seller in line for fraud and I've heard banks are cracking down on this practice.
Good luck with the sale's completion!
It puts a lot of liability on the part of your buyers' agent to ask them to do the walkthrough. Please do not hold them accountable in the future if they miss something you feel you would have noticed.
When the seller/tenant moves on, you will likely have many things to repair since you are signing off on the BINSR. Be aware that this could be a costly burden before you place your next tenant. Home inspectors reports typically do not pick apart cosmetic imperfections. Why not do repairs now, be a good landlord, and keep your investment in good shape?
Please read the bank's short sale conditions carefully to ensure there are no stipulations that the seller may not rent or buy back the property. That could put you and the seller in line for fraud and I've heard banks are cracking down on this practice.
Good luck with the sale's completion!
- SnowDesert
- Contributions:76
Thx for your all replies..
No, this is another SS house 4bed/3bath w/out pool that took forever to process. Yes, I have received the HOA doc, and the inspection has been completed w/ cosmetics fixes found. Since I'm renting it right back to the seller, I probably won't fix them since they like the house the way it is.
SInce this is the case, I'm thinking about skipping the final walk-thru, sign off the waiver and have my realtor do that for me (since I'm 400 miles out of town). What's your opinion on that? THx.
No, this is another SS house 4bed/3bath w/out pool that took forever to process. Yes, I have received the HOA doc, and the inspection has been completed w/ cosmetics fixes found. Since I'm renting it right back to the seller, I probably won't fix them since they like the house the way it is.
SInce this is the case, I'm thinking about skipping the final walk-thru, sign off the waiver and have my realtor do that for me (since I'm 400 miles out of town). What's your opinion on that? THx.
- ProfessorBaron
- Contributions:303
Have you received and reviewed the HOA documents and finances?
- Kim Bregman, "optimaproperties"
- Contributions:31
I wrote a blog on this that may have some useful advise for you. Please take a moment to read it at
http://bocaratonbuyerbroker.com/channels/activerain/topics/choosing_a_home_inspector
http://bocaratonbuyerbroker.com/channels/activerain/topics/choosing_a_home_inspector
- S. Chris Webb, "PHX AZ RE BROKER"
- Contributions:411
Are you still thinking of that home with the empty pool? Is your inspector qualified to inspect pools? If not, get a separate inspector. Your inspector should know what to look for. Keep in mind, they may recommend you hire other more qualified professionals for more detailed inspections such as pool, roofing, termite, electrical, etc. A home inspector is usually not qualified or allowed to take anything apart so everything is visual, only. He/she should check the wiring, HVAC system, visible plumbing connections, visual roof, windows, basic structure, property grading, drywall condition etc. They are not there to note cosmetic defects, only structural or critical. The reports are usually very detailed so don't be surprised if there are many suggested "recommend repair" on it. Your buyer's agent (PLEASE tell me you have a buyer's agent by now) should go through the report with you. As a buyer's agent I'm always there to meet the inspector to go over everything in the report.
- Simon Mills, "Mills Realty"
- Contributions:1858
If you have a good inspector he should be telling you what he will be looking for!
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