Lipstick on A Pig - Always Get a Home Inspection

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Real Estate Agent with Scottsdale, Phoenix, Cave Creek, Carefree, Fountain Hills SA5376460000

Lipstick On A Pig - Always Get a Home Inspection -

The competitive marketplace we are currently experiencing provides for some interesting phenomenon for both Buyers and Sellers. Lipstick on a Pig - Always Get A Home Inspection. 

Buyers are having to act quickly to “secure” their “bids”Kitchen on homes, forcing decisions they shouldn’t have to make in a shorter amount of time.

Sellers have the luxury of the opportunity to receive multiple offers and, oftentimes, for more than list price.

Buyers are making sacrifices and feeling pressure in order to buy at the current low price and historically low interest rates before prices rise. Lipstick on a Pig - Always Get A Home Inspection.

Sellers are pricing properties higher than the last sale, knowing that prices are rising.

Buyers are purchasing properties in “As Is” condition for fear of losing out on an offer to another buyer.

GFCISellers aren’t making repairs and expecting to declare use of their title company, their lender and giving buyers only a few days to make offers.  

Guidelines for acceptance of offers has shifted in the seller’s court.  For this very reason, it is imperative to protect your buyers’ interests by having every type of inspector at the ready. Today’s inspection was no different.

My first time homebuyer client, has the luxury of being a cash buyer.  Being a cash buyer puts her in first position and her negotiating power to the top of the offers, unlike other financed offers.  But that doesn’t change our due diligence.  

Today’s inspection produced a laundry list of repairs and Roof Repairshoddy workmanship.  The roof had been patched  improperly; the rolled roof wasn’t sealed properly; the kitchen had no GFCI’s, but had granite countertops and new appliances; the new refrigerator sparkled but had no icemaker even though it had the box and connections for one; and the new paint inside and out looked great, except that the new roof leak stains clearly have to be painted again once we request a new roof.

Icemaker

This Lipstick on a Pig - Always Get a Home Inspection  phenomenon is definitely a trend that I hope disappears.  Until then, make sure you get a home inspection!  Your buyers will thank you!

corroded hot water heater

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Re-Blogged 3 times:

Re-Blogged By Re-Blogged At
  1. Fred Griffin 02/06/2013 02:42 PM
  2. Tammie White 07/05/2014 08:01 PM
  3. John McCormack 07/06/2014 08:02 AM
Topic:
Home Improvement
Location:
Arizona Maricopa County Scottsdale
Tags:
home buying in phoenix
buying a remodeled house in phoenix
buying a house in phoenix
buyer beware
flipping houses in phoenix
investor flips
lipstick on a pig

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Show All Comments
Rainmaker
480,803
Jan Green
Scottsdale, Phoenix, Cave Creek, Carefree, Fountain Hills - Scottsdale, AZ
RE/MAX Excalibur Scottsdale REALTOR®, GREEN

You bet Brian - thanks for your comments!

Feb 06, 2013 03:25 PM #27
Rainer
277,283
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA
- Pierce, King, Kitsap, Thurston, Mason Counties

Jan - came over from your comment to Jay.  How can people think this kind of workmanship will pass anyone's inspection?

Feb 06, 2013 04:20 PM #28
Rainmaker
1,242,407
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

You're right Jan!  I love it!  This is all too common and anytime you see remodels or flips it's time for a home inspector.

Feb 06, 2013 04:31 PM #29
Ambassador
830,660
Fred Griffin
Frederick Griffin, Licensed Real Estate Broker - Tallahassee, FL
Licensed Real Estate Broker

Hi, Jan!  This is really good; I love that saying "Lipstick on a Pig".

    I Re-Blogged this Post!

Feb 06, 2013 05:19 PM #30
Rainmaker
207,277
Emcee M. Arah
Remax Excellence - Silver Spring, MD - Silver Spring, MD
Realtor w/Architectural Dimension, CRS, CDPE, CIAS

Jan, a lot of this also needs to fall on the shoulders of the listing agent. Unscrupulous practices will always come back to haunt you in the end! So be on the "up-and-up"  as the listing agent and stay on your "Ps and Qs" as the buyer's agent. Great post!

~Emcee

Feb 06, 2013 06:38 PM #31
Rainmaker
480,803
Jan Green
Scottsdale, Phoenix, Cave Creek, Carefree, Fountain Hills - Scottsdale, AZ
RE/MAX Excalibur Scottsdale REALTOR®, GREEN

Steven - Yes and it's up to us to "bird dog" for our clients!

Jay - I always recommend a home inspection - and if they don't want one, they have to sign off!

Fred - thank you!

Emcee - Thanks for commenting. Yes, it's always up to agents to work in an ethical manner, and especially on flip properties!

Feb 06, 2013 08:54 PM #32
Rainmaker
1,275,830
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

I think money can be made while doing a quality turn. You would think that a good flipper that produces a quality product would get a good following for good work.

Jul 03, 2014 12:16 AM #34
Rainmaker
1,277,053
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

Jan sharing how a professional thinks and acts...good posting and thank you

Jul 03, 2014 06:50 AM #35
Ambassador
635,516
Doug Rogers
Bayou Properties Realty - Pineville, LA
Your Pineville Louisiana Agent

I have buyers sign a form if they refuse a professional home inspection. And no, your Uncle Earl the mechanic is not a professional inspector.

Jul 03, 2014 07:31 AM #36
Rainer
57,212
Cat Zwicker
Desert Sky Real Estate, LLC - Redmond, OR
Principal Broker/Owner - 2014 President Oregon CRS

Home Inspections are the best insurance you may never need! I love it when I have a clean report, but knowing the details is 1/2 the battle!  I think Buyers should always have an inspection even if it is new construction! Great and timely post in this market! 

 

Jul 03, 2014 12:01 PM #37
Rainmaker
1,287,649
Carla Muss-Jacobs, Principal Broker/Owner
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% o... - Portland, OR
Buyer Focused ~ Buyer Results

Due diligence . . . two words that set you apart from other agents Jan.  You know how important it is and why it matters.  Good post!

Jul 03, 2014 12:58 PM #38
Rainmaker
671,571
Jeff Jensen
Annie Mac Home Mortgage - Greenwich, CT

I bought a 1740 saltbox with no "formal" inspection and never regretted it.

Jul 03, 2014 02:21 PM #39
Rainmaker
96,517
Heidi Hovatter - Sonora & Twain Harte
Century 21 Wildwood - Selling Homes and Cabins in Tuolumne County - Sonora, CA
Heidi The Home Hunter

It always scares me when buyers don't want a home inspection because the seller is selling AS IS and can't make the repairs.  Here is your waiver that I HIGHLY recommended these inspections!

Jul 03, 2014 04:42 PM #40
Rainer
404,118
Bill Reddington
Re/max Southern Realty - Destin, FL
Destin Florida Real Estate

Home inspections are a necessity whether paying cash or going for financing. Solves any future surprises.

Jul 03, 2014 08:41 PM #41
Rainmaker
480,803
Jan Green
Scottsdale, Phoenix, Cave Creek, Carefree, Fountain Hills - Scottsdale, AZ
RE/MAX Excalibur Scottsdale REALTOR®, GREEN

Tom- You would think that a flipper would see that as well, but not so!

Richie - Beiong professional is the best way to approach this "business!"

Doug - Good for you.  Get them to recognize that there are penalties to pay when they don't ask for an inspection.

Cat - Home inspections are one of the best lines of defense when buying a home. 

Carla - You'd do the same!

Jeff - You're one lucky buyer.  Without a home inspection, how do you know what you're buying?

Heidi, Bill - You bet - always get an inspection!

Jul 03, 2014 10:11 PM #42
Rainmaker
369,568
Nina Hollander
RE/MAX Executive Realty/Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

If I have a client who chooses not to inspect, I have them sign off waiving their right to inspect. Because don't you just know the minute something goes wrong once they own the home they insist it's your problem and they conveniently "forget" that you strongly recommended an inspection that they declined to do.

Jul 05, 2014 05:46 AM #43
Ambassador
830,660
Fred Griffin
Frederick Griffin, Licensed Real Estate Broker - Tallahassee, FL
Licensed Real Estate Broker

     These are the tricks used by many flippers.   New appliances, new granite counter tops, etc.   But what about the wiring, the plumbing, the roof, the "bones" of the house?

Jul 05, 2014 08:14 PM #44
Rainer
6,753
Jeff Yeats
McGraw Realtors at (918)855-9256 www.haywoodhometeam.com - Tulsa, OK

I love the advice to have buyer sign off if they choose to skip inspections.  Prior to getting in to real estate, I bought a new home and didn't realize the need for inspections in new construction. I now know better.  Also, my friend was extremely disappointed at  the shortcuts taken in his new home.  He was not aware of then until after getting settled.  Thabks for advice!

Jul 06, 2014 08:44 AM #45
Rainer
187,685
Marshall Enterprises
Marshall Enterprises - Saint Michael, MN
Antiques, Lawn Care, and Trashouts

Even if I knew the seller personally, I would want to get a home inspection so that I am not buying a pig in a poke (with lipstick)!

Jul 06, 2014 08:53 AM #46
Rainmaker
480,803
Jan Green
Scottsdale, Phoenix, Cave Creek, Carefree, Fountain Hills - Scottsdale, AZ
RE/MAX Excalibur Scottsdale REALTOR®, GREEN

Nina - Very true.  Those discussions are forgotten when problems arise. 

Fred - Exactly!  I just cancelled a contract because there was so much wrong with this "pretty" house.

Jeff - Exactly.  A new home is just as important as a re-sale home.

Marshall - Pig in a poke - ha!  

 

 

Jul 06, 2014 10:03 AM #47
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Rainmaker
480,803

Jan Green

RE/MAX Excalibur Scottsdale REALTOR®, GREEN
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