So much has happened these past two weeks. As a recap, I opened escrow April 10, 2012 and it will officially be three weeks this upcoming Tuesday. To be honest, nothing happened these past tho weeks, but a lot of running around and learning. I've learned that it is sooooooooo important to have an inspection and a contractors bid the moment you find out your offer was accepted. With a 203k Streamline Loan, the lender needs a contracts bid (who is licensed and insured) and they need it fast! When my realtor told me I needed an inspection and a contractors bid, I was on it! I was having a hard time finding someone because none have worked with a 203k loan before and although it is not required that they have, it would make the paperwork process much easier.
The first person I scheduled was an inspector and guess what???? She said she had a contractors license! You know what that means? I do not have to meet anyone else to get a bid!! I can kill two birds with one stone! This is wonderful I am doing great so far. Let's call my inspector Tina the TIGER! Ok - so my realtor and I met with Tina the TIGER at the property and we went through every inch of the house which was great. We started in the front of the house and located the three gas meters which were under the house (my boyfriend and I couldn't find them on our previous visits) and saw that everything looked good. We moved along the property and started to pin point things that will be needing attention in the future, etc, but so far nothing big. She went into the basement and noticed that underneath one of the restrooms there was water damage and possibly, terminate damage! The seller normally pays for a terminate inspection (which would be performed later) so I wouldn't know if it's terminates or water damage until then.
To summarize everything, the house wasn't in bad shape. The roof seemed new and there was a few outlets that were not grounded, but the back duplex was all ground, which was great! No electrical work needed there! The real problem laid underneath the house....the pluming! Of course, everything was galvanize with a few parts being copper. Even with that discovery, I was still very excited about this property. I can already see my golden retriever running all through the yard seeing what he can chew!
After we were done inspecting the property, she gave my realtor and I her business card saying that she doesn't include her license number in her business cards because people use it! I was disgusted when she said that, I just can't believe people would do such a thing! As we talked more, I asked her if I can get her license number for my records, and of course she said..."Well... in California inspectors aren't required to be licensed." I was completely shocked that she lied! I had also asked her on the phone and before she answered me she paused and said "Yes, I am a licensed inspector." The other big question remained....
me: "Are you a licensed contractor?"
Tina the TIGER: "I do have it, but it expired back in the 90's"
Ohhhhhhhh great! The lies! I was disappointed that she lied, but I didn't give myself time to react towards her, but rather trying to find a solution to my dilemma that 1) I paid $395 to an unlicensed inspector and 2) I don't have a bid! She still had the nerve to say "You aren't giving this report to the bank right?" I replied with "they are the ones that requested one!" she said "Oh, Sh**t" I asked her what was the big deal, and she said that she didn't want the bank to think the property needed too much work.
On the good note, my inspector was very respectful, timely, and detailed. She not once try rushing me out of the property. I later found out that California does not require inspectors to be licensed, so she was telling the truth about that at least.
She provided me with a detailed inspection report two days later (some inspectors normally complete it the next day) that included pictures which was fun to look over at a later time since the pictures helped refresh my memory. I will try to see how I can upload the inspection report to my blog so you can all get an idea of how an inspection report looks like.
If you are buying your house for the very first time, it is nice to get an inspection because you get to learn so much of the property you are buying. However, I also believe that if an inspection report is not required, do not get one (unless you want to). It is best to get a contractor to inspect the property and tell you what needs to be replaced, etc. Just a though to help you save money in this costly transaction.
The next few days I will be focusing on getting contractor bids, let's hope they aren't filled with lies!
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