Cost/Benefits of Engineering Inspections

 

An Engineering Inspection is not always cheap. It is usually the last thing a home buyer wants to deal with when trying to juggle real estate agents, attorneys, the seller, the home inspection report, mortgages, selling their current house, movers, etc, etc. Its also usually the last thing they want to pay for as they look at the list of fees involved in a real estate transaction. It is very important to keep in mind the risks and rewards if your Home Inspector has found an issue and recommended an Engineering Inspection.

A foundation or structural problem in a house can cost several hundred or $150,000.00 to repair. It could also be determined that no repairs need to be made. If no repairs need to be made, you will be paying for peace of mind and one less thing to worry about with all you have to deal with. If repairs do need to be made, you will clearly know up front. You will have the information you need to decide if you want to walk away, negotiate, or take the house as is. If you are on a tight budget and will have no money left over for repairs, the Engineering fees are usually paltry compared to the thousands you may need to spend just to make the house safe. Walking away from the deal will pay for the Engineering Inspection possibly 100 times over. If you decide to take the house as is, you will have the information you know to budget for repairs. If you decide to negotiate with the seller, you will have the information you need to either get repairs done before closing or to adjust the price accordingly. One thing is for sure. Without an Engineering Inspection, your dream house could turn into a nightmare.

2018-10-13T12:34:00+00:00