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One of the things you need to understand is to determine the price of the property. Identifying the value of the property will give you an idea of how much of an offer to make. Check the comparable properties in the area where you want to make a purchase. Your agent should present statistics of the property sold. Here, you can check the asking value of the properties and its selling prices. It is normal to find that the selling price is lower than the asking price.

Aside from the above mentioned, you need to consider other things to make an offer. Doing so will help you make the best possible offer. Here are some things you need to consider:

1. How long has the property been on the market? You will be able to negotiate better if the property has been on the market for a while. You can make an offer that is lower than 6% of the asking price.

2. Why is the seller selling the property? The answer to this question is difficult to acquire. However, it is worth a try. You may ask the neighbor of the seller why he is selling the property. Knowing the reason why he is selling the property will give you an idea if the seller has the urgent need to find a buyer. He may not have the time or money to wait for a buyer that will match his asking price.

3. How many times has the price of the property been reduced? If the value of the house has been reduced more than once, then this would mean the seller is willing to sell the property right away and may accept a lower offer.

4. What is the condition of the property? The seller is obliged to disclose any problems concerning the property. He has to let the buyers know of any problems the property has such as a leaky basement or roof especially those that can affect its condition or value, so make sure that you check the details.

5. Will the seller be willing to negotiate? If you have offered a good value, the seller will be more willing to negotiate the terms. Before signing the purchase contract, make sure that you have clear the contingencies especially in terms of the canceling it if serious problems occur.

Be careful when making an offer especially if you have found your ideal house. Make sure that you study the current market and the other factors affecting the value of the property. Your offer does not have to be high as long as you know the motivation of the seller.

Visit the Single-Story Homes in Midlothian. Check out the Midlothian 1+ Acre Homes as well.

Article Source: http://EzineArticles.com/?expert=Roby_V._Pagong

For you, the trick is figuring out how to differentiate the good home inspector – the one who will use his or her knowledge, skill and experience to make sure you make an educated investment – from the inspector who may be out to simply collect fees from unsuspecting buyers.

Although qualifications vary from province to province, they are rather minimal. Which means any Joe or Jane Blow can print up business cards that identify the individual as a home inspector, and declare themselves home inspectors.

Scary huh?

Well, it doesn’t have to be – when you know what to look out for.

A home inspection is a non-invasive examination of the condition of a home, often in connection with the sale of that home. This is carried out by a home inspector, who should have special equipment and training to carry out such inspections. A home inspection report is then issued by the home inspector.

A home cannot “fail” an inspection, as there is no score or passing grade given. But a home inspector can fail to deliver a thorough unbiased evaluation of the home building you are looking at purchasing. Sometimes the home inspector lacks experience. Or could be that not enough time was taken to ensure a complete analysis.

The bottom line: when it comes down to selecting a home inspector for what could be the biggest investment you may ever make, you want to make sure you know how to tell the real deal from the pretender.

And that’s the purpose behind this report.

The following questions will help you identify a home inspection professional who will make sure you get what you pay for – an honest, thorough evaluation of the house or building you are looking to buy.

1. What exactly does your inspection cover and how long will it take?

A professional home inspection should take between 3-4 hours. That’s the amount of time needed to look at and report on all of the key elements that could have the most impact on your decision whether to buy or not.

Here is a list of items a true professional home inspector should be prepared and equipped to cover on a routine inspection that a newly minted inspector or “part-timer” might miss completely. Uninvestigated, any of these areas could have a tremendously damaging impact on the future value of the home as well as your overall enjoyment.

Hot spots in electrical panels – Could be caused by poor connections or circuit breakers that are failing. Easy to spot for a home inspector with an electronics background but could be missed by inspector with general experience.

Uninsulated suction lines on air conditioning units – Could make system expensive to operate. Telltale signs are oily film or dark area in area of where refrigerant components are located.

Floor above crawl space – How cold will it be in winter?

Size of the electrical service – Is it large enough for future additions such things as a hot tub? Again, a home inspector with experience as an electrician can determine in a snap.

Condition of a wooden deck – The expected life span of a wooden deck could be cut short if the cut edges of boards not are treated or wall flashings not installed correctly if they are there at all.

Rain water accumulation – Once it drips off the roof, will it accumulate and become a problem?

Return air for the heating cooling system – Is it on the floor? If so, how will that affect the efficiency and comfort of the system?

Additions to the original structure – Need to be inspected for possible major problems. Major remodeled homes – What deficiencies are covered?

Newly painted concrete – If there are concrete floors foundations, walls, and ceilings painted, you need to know why? There could be a good reason!

Receptacles installed Upside down – Sure sign of an amateur installation. Further investigation required.

Molding style variations – They don’t match from one area to another. Why?

Leveling inconsistencies – Why are floors out of level? Or the floors are level and you look along supporting structure and it is crooked as a dog’s hind leg….why is this so? Could be a sign of a bigger problem.

Proper appliance ventilation – Is that combustible appliance receiving proper take up air for combustion? Could be a possible health or safety risk!

Dryer exhaust vent actually installed correctly – Or, is the flow of air being hampered and possibly creating extra energy costs or a fire hazard?

Effective smoke detector testing – Was that smoke detector/alarm sensing circuit actually checked with canned test smoke (as a professional will do) or was the test button only pushed. Your life and those of your loved ones may depend on it!

Age of Carbon Dioxide/Smoke detector – Is it time to replace?

Hidden stains on underside of roof sheathing – Will your inspector actually enter into the far reaches of the attic to find out if they’re present?

EIFS-drainage – This is an important concern. Will time be to perform a thorough inspection?

Hidden deficiencies – Sometimes, storage areas will be staged to hide deficiencies. Will the inspector move or highlight, if unable to move, in the report?

Discolouring of areas above combustion areas- Why is this visible around fuelled appliances?

Colour of furnace flame – When the furnace first fires, does the heat exchanger leak?

By presenting this list to someone who you are considering hiring to do your home inspection, two things will happen. First you will send a message that you know what you’re doing. And second, you will get a sense of how thorough you can expect your home inspection to be.

2. What happens if I buy the house or building based on your inspection findings and, a few months later, I find myself faced with a costly repair?

Even top-notch inspectors are human and can make errors or overlook problems they probably should have noticed. That won’t be very comforting to you if you find out 3 months after you’ve bought based on the inspector’s recommendation that mentioned nothing about a potential costly repair. The key is to make sure you never put yourself in this position in the first place.

Here’s how to do it:

Before you invest all kinds of time interviewing a particular home inspector, ask about the company’s policy in such situations. Does the company or individual inspector stand behind the report? Many companies ask customers to sign a waiver limiting the company’s liability to the cost of the inspection.

Here’s an example of how this weasel clause reads in the contact:

“The expense to the client in regard to errors or omissions caused by the inspector is limited to not more than the price of the inspection.”

How’d you like to find that out after you’ve just learned that the foundation of your house is shifting and will require about $75,000 worth of work to fix the condition?

To protect yourself, if an inspector carries Errors and Omissions insurance. If so, that’s a sure sign that you’re working with a professional who stands behind his report. Errors and Omissions insurance coverage is very expensive and an inspector who makes that investment is sending a clear signal that he conducts himself in a professional way.

3. Are you associated professionally with realtors and/or any firms connected with construction or repair of homes?

This is another biggie. And it happens way too often. You are working with a real estate agent. You find a house you want. Your financing’s in place. The only thing standing between you and the home of your dreams is confirmation that the house is sound. You need a home inspection report done.

You have never had to hire a home inspector before so naturally, you ask your realtor for some recommendations. Most realtors typically have two or three inspectors he or she can recommend.

Now stop and think for a minute.

How objective can a home inspector be if he is getting his referrals from a realtor? If he tells it like it is and provides you, the prospective home buyer, with the complete story on the overall condition of the house, you may walk away. That means a lost sale for the realtor. And, for the home inspector, a dried up referral source.

So how does the inspector deal with this potential issue? Simple. His report is written in inspector-”ese” using vague, non-specific terms like ‘possible’ and ‘may’ that leave plenty of wiggle room for the Realtor to manoeuvre with the buyer.

Same thing with contractors. If a home inspector offers to direct you to a contractor to perform work, or offers to do it himself, I’d look for another inspector. Home inspectors are in the business of inspecting homes so they can provide you with a complete evaluation of the home so you can make a wise investment.

4. What qualifies you to be a home inspector and what certifications do you have? Inspectors should be able to provide references, certifications and work history upon request. Make sure the inspector has experience before you contract with them.

And don’t make this mistake. Someone could have years of experience as a home inspector but that doesn’t mean he or she can give you the understanding you need to make an educated decision on whether or not to buy a particular house or building.

You need to look at the whole picture. What is the home inspector’s background? Has he walked the walk or is he simply parroting back stuff anyone could learn with a bit of study.

It’s not unusual for Professional Engineers to take up home inspection as a second career. Sure, they will know plenty about the structural aspects of a home but how will this one-dimensional perspective produce an evaluation that effectively examines all the other elements of a thorough home inspection.

Here are some additional questions that will help you identify the true professional:

a. Is he or she a member of the recognized associations promoting excellence in the home inspection profession.

b. How much time annually does he devote to continuing education so he can stay current on changes in the industry, ensuring that you, as a client, receive the most informed counsel he is able to give.

c. What is his “life” experience as it relates to being around homes? Has he built and remodeled homes? Owned and operated rental properties? Supervised the maintenance of residential and commercial projects?

As you can see, there’s more to hiring a home inspector who is truly equipped to provide you with the unbiased, complete information you need to make an informed decision regarding one of the biggest purchases you will make in a lifetime.

By using the insights in this report, you’ll be able to scratch beneath the surface and put yourself in position to make a wise investment.

David Palmer is the owner and sole inspector Of BigBlock Home Inspections. With over 40 years experience in the electrical and building industries, David is in the business of helping his clients make prudent real estate investments. He trained at the Humber School of Applied Technology – considered by many to be North America’s gold standard for home inspection training. A member of International Association of Certified Home Inspectors, Associate Member of the Ontario Home Inspections Associations, Canadian Association of Home Inspectors and a WETT Certified Inspector. David uses his experience to ensure his clients receive a thorough inspection report they can use to make an educated decision. He can be reached at http://www.bigblockhomeinspections.com.

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