All posts tagged 'New Construction Chicago'

The Underlying Dynamic of the Home Inspection: Liability Hand-off from Client to Inspector and Back Again.

Home Inspection Hand off

Many buyers and even some realtors don’t understand the true nature of a properly performed home inspection. When a home buyer has an offer accepted on a property and engages the services of a home inspector (hopefully after doing extensive research and comparing inspector backgrounds, inspection reports, online reviews, etc.) they are placing a significant burden upon that home inspector. That burden or expectation is that the inspector will find all significant defects in the subject property and report upon them in a clear and useful manner. What the home buyer may not understand, however, is that upon completion of the inspection report the inspector is handing that burden back to the homebuyer. In other words, by ferreting out the conditions and defects in the property and providing the buyer with a clearly worded report, the inspector gives the liability back to the homeowner to read the report, call back with any questions, and follow up on recommendations contained within the report.
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A Chicago Alley Tale

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If you live in or around Chicago then you know that a huge ‘buzz’ in the real estate industry lately is the new ‘606 Trail’ aka ‘Bloomingdale Trail’. It’s a section of an abandoned railroad line that has been converted to a very pleasant hiking/biking trail. If you live in or around Chicago you also know that our politicians have a long history of taking advantage of real estate opportunities. Continue Reading

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New construction, short sales and bank-owned home inspections.

  1. New construction – Builders often will not allow an “inspection contingency”. Once you sign a contract to buy the home that they are building, you are usually locked-in to the purchase, except for some instances when you cannot obtain financing. Such contracts are definitely slanted in favor of the builder, but the logic here is pretty easy to understand. Builders will offer limited warranties on their homes and any issues that surface during an inspection will likely be covered by such a warranty. Continue Reading
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