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For those individuals with cash and strong credit scores, there are certainly deals to be had in the current real estate market. Many homes are being sold ‘as-is', which can lead people to forego having an inspection performed. The typical reasoning is that the property is such a ‘steal', that any needed repairs/replacements will still be worth it. However, making a decision to buy without knowing exactly what you're getting can quickly erode - or eliminate - your anticipated return on investment. Remember that many of these as-is properties have been reclaimed by banks from people who could no longer pay their mortgages. Many of these properties have been vacant/abandoned for a long period of time, with no maintenance or upkeep. And, our inspectors report incidents where the former owners deliberately sabotaged the house before leaving it, in ways never identifiable to an untrained eye. Average repair and replacement costs for a home's major systems are fairly high and can add up quickly. Whatever price you are paying for a home, it's still a lot of money and the cost of an inspection is often a fraction of a percentage of the price - definitely worth it for the peace of mind. |