Just because you are purchasing a new construction home, doesn't mean that it doesn't have problems that an inspector may find. Some of these new homes are built so fast, that things are missed or just not done up to code.
Do you need proof of this? Read the contracts and see for yourself. A lot of these contracts are starting to put restrictions on inspections, because these inspections are costing the builders money! I recently saw a contract that said that the inspection had to be done within 3 days of an accepted offer and could only be done between the hours of 2-4. I'm sorry. I've never seen an inspector get done with any home, much less a 4,000 square foot home, in 2 hours.
This tells me that the builder is trying to hide something and knows, that if an inspection is done, that it will cost him money. This doesn't mean that you can't change the contract to say 10 days and no time restrictions. It just means that he is hoping you will agree to and you will just decide not to get one.
So be careful, and read the contracts with your new construction home very carefully, or you may get a nasty surprise when you find something wrong.
Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8738
Todd@IFoundYourNewHome.com
http://www.ifoundyournewhome.com/
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)622-8739
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard.
All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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Now that I have your attention, I am serious! I don't care if you are a rehabber or an experienced investor, I still want you to get an inspection! An inspector is a licensed and bonded professional whose job it is to find problems with a property that most investors are not looking for.
Everyone has had something in their life that they didn't expect to happen, and the same thing may have happened to you, to cause you to have to file for bankruptcy. But, that is no reason to keep beating yourself up and telling yourself you are not good enough to own a home.
Most condo conversion in the Portland area are done in 3 phases, and if you are in the first phase you can have great appreciation over the first year of ownership.
When you purchase a home that the loan required to finance the purchase is more than $417,100, this is called a jumbo mortgage and is a higher risk to a bank. This means that a home requiring a jumbo mortgage also comes with higher interest rates.
