August 30, 2011. We are closing on a home that belonged to an investor and two things came up in the inspection and appraisal of the home. We recommended a side sewer inspection because of the age of the home. A house built in 1915 was probably going to have issues and this one certainly did have root balls in the side sewer. Had we not had this problem taken care of the happy first time buyer would have had her sewer back up within the first few months.
The other issue that reared it's ugly head was the peeling paint on the detached garage. Due to the age of the garage and the fact that the paint probably was lead based, the appraiser called for the garage to be painted. Because the Seller/Investor hadn't done his own due diligence inspection these issues made for an unhappy Seller. If an investor does proper due diligence prior to their purchase these problems do not have to be addressed when everyone is trying to close a transaction.