Skip to main content

"High Value" Home Inspection. Anyone familiar with this?

Hello, home inspector here from a small province in Canada. Our market is very hot right now and house values are sky rocketing.

I got a phone call from someone from outside the province looking to purchase a $1.2 million dollar home.

It's roughly 5500 sq/ft, several out buildings, indoor and outdoor pools, large hot tub, theater room, two kitchens etc etc etc.

It's much bigger and much more elaborate than I'm use to dealing with and the buyer wanted to know if I offered "High Value" real estate inspections. I should ad this will be a private sale with no real estate agents involved.

From what I'm reading a high value inspection is similar to a commercial inspection, which I'm use to, where I'd sub contract various trades to inspect various parts of the house. I.E. a pool guy, roofer, electrician and so on.

Is this typical? Is this common in higher value cities? It's rare to see anything sell for more than $500k in my area. Any insight would be greatly appreciated as it seems like this isn't a service offered in my area and I'd like to help this client out.

submitted by /u/ThermalTechHS
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/j2cs7k/high_value_home_inspection_anyone_familiar_with/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...

Co-signing as non-primary resident - effect on size of required downpayment & first time home buyer status?

Contemplating co-signing on a house with my mom and splitting the mortgage payment. I currently have a significantly higher income and much better credit than her. I'm looking at potential home costs and related downpayments but have difficulty using some of the online estimators. From my perspective, this would be somewhat of an investment purchase (I intend to stay in my current location in a different state and contribute to the mortgage), however, for my mom, this would be a primary residence. For purposes of the downpayment size and the type of mortgage arrangement, would it be an investment property or a primary residence? Many thanks for any help. submitted by /u/piercalicious [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km4hvl/cosigning_as_nonprimary_resident_effect_on_size/