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It was great when my offer got accepted and then not so great when the inspection revealed major issues
Which kind of offers?
Buying a house (or rather, not)
Aren't those things supposed to go on the opposite order? So you aren't putting an offer on a money pit.
No, your offer gets accepted and you have 5 business days to have an inspection and back out of the deal. Inspections take a long time and it would interfere with showings
Definitely not how it went when I purchased a few years ago.
So you paid to have an inspection before you even put in an offer?
You don't have to, but it's a good idea. Having an offer accepted generally signals your intention to piurchase.
We must be in different countries because this is the standard order of events in the US. Especially in today's market where houses rarely last a week but it was the same when I bought my condo in 2010
I'm in the US. The shorter time has made it very difficult but even I was able to do it in 2021 when you were lucky to have a few days to decide.
I'm honestly shocked because my mom worked for a real estate office when I was a kid and my cousin is my realtor now and I've never even heard of doing an inspection before an offer was accepted. Tour slots are half an hour and my condo inspection took an hour... This inspection took 4. Not to mention both inspections cost several hundred dollars each.
We're definitely talking about the same thing, right? I'm not talking about inspecting the home yourself (that's the tour), I mean hiring a professional home inspector to create a report.
Yep, hiring a guy to inspect it. I think I did an inspection on another house before the one I got. It's worth it when they find issues, and that's the point of doing it before an offer.
That is....very atypical lol
You get your earnest money back if you terminate the contract in those 5 days so there's not much of an advantage to doing the inspection before your offer is accepted.
This was my 5th offer so I would have been out $2000 for 4 houses I was never going to get. There's also no way to do a radon test during showings because the doors have to be closed so an inspector would have to go back a second time