TIP FOR ALL REIs - Posted by SS
Posted by SS on April 12, 2000 at 24:16:38:
PLEASE, PLEASE, PLEASE, learn from my mistake! ALWAYS get an inspection before purchasing a property! I bought the CS program and purchased my first property 27 days later. One month later the air conditioner went out…BOOM $1000, then 5 months later the septic system went out. BOOM $6500. This property had two dwellings, and while the one side was being revamped we decided to redo the other side at the same time (one loan) so we wouldn’t have problems with either septic system for at least a while. Found out the second didn’t have a “real” septic. Can we say “make shift”? BOOM $3500. It consisted of a tin culvert with a piece of tin over the top. I am now in my 5th month of legal dealings trying to recover my $10,000 by spending $2500 in legal fees. My only salvation has been that the seller disclosed that there were no problems witht the septics.
PLEASE, always get an inspection ($200-$300) and even a home warranty ($300-$500). I really wish we had.
Good Luck!
SS