Tuesday, March 01, 2005

House 11 Inspection Reports In

The property was inspected yesterday and I received the reports today. No termites were found, although there were a couple places where wood siding was touching the ground, which is conducive to termites. I'll get that cleared away.

The house itself has what I consider to be standard repair issues with a 34 year old house:

  • Loose bricks in block fence
  • Windows and doors need to be sealed
  • Some wall shifting / displacement is evident
  • Aluminum wiring (instead of copper - typical for the year the house was built)
  • Outlets at kitchen, bathroom, and outside are not GFCI outlets
There are some other issues which are basic maintenance issues:
  • Dishwasher racks are rusty
  • Kitchen faucet leaks
  • Bathroom faucet leaks
  • Garbage disposal noisy and vibrating
There are also signs that seem to show the owners were do-it-yourself type people:
  • A workshop / shed was added and the sink in it uses pipes that are too small and don't have supply values
  • The plumbing vent in the workshop doesn't extend to the exterior and vents into the room
  • Ceiling fans are installed below 7 foot blade height
There was signs of water damage in the attic, but the SPDS (seller property disclosure statement) states there was hail damage to the roof. This was repaired by the seller's insurance in May, 2003 and I am receiving proof that this was done - including the cost, the company that repaired it, etc. I'm glad this was professionally repaired and not done by the homeowner. I requested this information not so much for myself, but for the person I sell the house to. I know their inspection will note the water damage and I want to be able to provide concrete proof of what caused it and that it was repaired.

There were also various other miscellaneous items, but when all is said and done, it's not in horribly bad shape. I'll probably replace the dishwasher and garbage disposal. All in all, it looks like I'm set to close escrow! My insurance coverage on the property doesn't start until Friday, so that's the earliest I can close. I called the escrow agent to get an update but he was away from his desk and I had to leave voicemail.


Steve said...

Shaun, you mentioned a few blog entries below that you won;t be using traditional financing. Could I ask what you are using (HML/PML, own money, other)? Just curious.

Shaun said...

This is a cash purchase using an LLC I started with some other investors.

Neville said...

Would you consider posting pictures of the houses you purchase?


Shaun said...

That's a good idea! I'll need to do some investigating on how to, but I'll do it!

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