Hubster and I, in our infinite wisdom and exceptional prowess at real estate, decided we should utilize my inheritance from Mom to purchase a duplex. We'd rent out both sides, with one side making the payment for the loan each month, while the other side would go back into the savings account.
(not the one I'm writing about)
To that end we enlisted the help of an exceptional realtor. She went with us through two houses and three duplexes on a Friday afternoon. We found what we thought to be an exceptional buy on the third duplex we toured. We put in a lowball offer, and waited.
They came down $450.
We offered $5000 more.
They came down $5000.
And there we met.
All this was happening in what seemed to be the longest day in recorded history. But now it was over, so we signed the offer.
Our exceptional real estate agent told us she would not let the sale go through unless we agreed to an inspection by a reputable inspector. We did not balk, because even though we are consummate professionals in the real estate world, we admit we know nothing about what might go wrong.
Thankfully, the inspector did.
(I will henceforth refer to him as the Inspector General, because he saved us untold thousands of dollars.)
It seems the foundation of this building was caving in. We just thought it had cracks due to settling, but the IG told us it could literally FALL IN any day. He also found massive termite damage that we missed. He said he couldn't tell us what to do, but if it was him, he would RUN away from the sale...not walk.
And then he didn't charge us a dime. He said he'd spent a total of fifteen minutes in the house, and we didn't owe him for that.
Boy, was he ever wrong.
We will continue the hunt for habitation at a later date. Until then, we're feeling mighty blessed to have missed this "opportunity." We'll use him again as the IG, and our wonderful agent as well.