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Monday, December 30 2013

You’re nearing your goal of buying a home in Evansville! You have zeroed in on a property, submitted your offer, and heeded your agent’s advice and ordered a home inspection.  

Soooo…what if the inspector finds major issues nobody expected? While most home inspections only uncover small problems that can be fixed easily, some do turn up serious issues. In 2013, 16% of Realtors® reported sales that went off track due to the inspector’s findings. What’s your best course of action if that happens?

Buying a home after major problems have been identified should only proceed after you know how much time and money it will take to solve them. Whether you are dealing with foundation, roofing, electrical, HVAC or plumbing issues, call a few companies that specialize in dealing with structural home repairs, and gather some free quotes. Depending on what you hear, you can then decide to move to modifying your offer or you can walk away and look for another home.

Your agent will be able to assist you in modifying the original offer to the seller. If the issues are truly major and expensive, you may need to negotiate back and forth with the seller to see what they are willing to do. Be prepared to make some concessions, and don’t get frustrated with the process. It may take some time to come to an agreement that satisfies both parties.

As everywhere, buying a is peculiarly both a heavy-duty financial decision as well as one fraught with emotion. People can find themselves tempted to ignore thorny issues simply because they have fallen in love with the home. But since you could end up spending tens of thousands of dollars on repairs, it’s vital to isolate your emotions from the decision.

If the bids you’ve received are astronomical, it could be time to find a better house. But you needn’t despair. This is all part of the process of buying a home—and a big part of why I’m here to help my clients.  If you’re buying a home this winter, I’ll look for your call! You can reach me on my cell phone 812-499-9234 or email Rolando@RolandoTrentini.com

Posted by: Rolando Trentini AT 10:56 am   |  Permalink   |  0 Comments  |  Email
Wednesday, May 15 2013
If you are readying your home for sale this spring or summer, one of my favorite tactics to set your property apart from other area listings is to order a pre-inspection. If you’re not familiar with the term, a pre-inspection is a less detailed, less expensive visual inspection designed to report major conditions certain to be noted in the final. Why add this extra expense? Won’t buyers ultimately get their own inspection?
Yes, they will. But the purpose is not to replace a final inspection — it’s to attract more offers and hasten a final sale by minimizing re-negotiation.
 Picture yourself as a prospective buyer. Listings which headline the availability of a pre-inspection report automatically seem to be offered by someone who is proud of their property’s condition and unafraid of what the final inspection will reveal. To skittish prospective buyers, it serves to lessen the "fear of the unknown" that can make buyers hesitate before writing an offer. If there were a formula, it would look something like:
Eliminating objections = Attracting more offers
Pre-inspected listings let you document major conditions that have either been addressed or left for the future owner to remediate as he or she sees fit. By noting how your asking price includes precise dollar allowances for named conditions, you display openness and conviction in the basis for your pricing. Local listings written after a pre-inspection are a lot more likely minimize last-minute re-negotiation: if you have ever been asked at the last minute to knock off $20k from an accepted offer, you know the value of that.
It is worth noting that any serious defects that a pre-inspection identify must be disclosed, for better or for worse. But fear of a major discovery shouldn’t dissuade you: any major defect will certainly be discovered by the buyer’s inspector. The old saying applies: knowledge IS power. You also have the option to repair the defects and let the buyer know that repairs have already been made.
If you plan to add your own property to the local listings any time this year, my job is to see that it brings you top dollar. Contact me today to talk over the way we will get that done! You can reach me on my cell phone at 812-499-9234 or email Rolando@RolandoTrentini.com
Posted by: Rolando Trentini AT 10:41 am   |  Permalink   |  0 Comments  |  Email
Monday, September 07 2009

The U.S. Army Corps of Engineers is joining forces with the Evansville Levee Authority this week to assess the integrity of the city's 27 miles of flood protection levees and their pumping stations.

The Evansville levee system, begun after the disastrous 1937 flood, is designed to protect the city from the floodwaters of the Ohio River and is divided into seven sections.

Construction of the Knight and Howell levee — the city's first — began in 1939 and was completed in 1948. The newest section, along Pigeon Creek on the city's North Side, was added in 1994. The Federal Emergency Management Agency began calling for the certification of levee systems throughout the country in 2007 in response to levee failures at New Orleans during Hurricane Katrina

By FEMA regulations, levee systems must provide protection from an annual 1 percent flood chance, often referred to as a 100-year flood. FEMA also uses the information to formulate new flood insurance rate maps.

Jay Perry, superintendent of the Evansville Levee Authority, said monthly inspections are made to the system, but he added that the FEMA certification inspection process is much more intense and expensive.

The inspection process alone will cost the Levee Authority $408,000.

"It's a lot more thorough than our other inspections we've had, too," Perry said. "They're looking at everything from Point A to Point B and everything in between."

The 28 Corps engineers operate in teams that review the geotechnical, structural, mechanical, electrical and hydraulic aspects of the levees.

Daniel Frank, the Corps' levee safety program manager, said the inspections are just "the field scenario portion" of the accreditation process, which he expects to end Friday.

After the inspections and field reports, Frank said, the Corps will have until Nov. 12 to report to FEMA.

If Evansville's levee system fails to meet accreditation requirements, Frank said the levee authority then would have 18 months to meet the regulations before being classified as unaccredited. Such a classification could lead to FEMA deeming the area a flood zone.

"If that were the case, people who don't have to pay for flood insurance now may have to pay for it in the future," Perry said. "Hopefully, it won't come to that here. We have a few things here that aren't perfect, but that's with anything."

At the river stage of 26 feet, station pumps begin dumping rain and storm water into the Ohio River, Perry said.

"Our pumping season is from November to June. Sometimes we pump into July. This year, the river came up in August, so it really all depends on weather conditions."

The levee sections have 19 pumping stations that include 55 pumps.

Perry said small units can pump about 1,000 gallons of water per minute, and the larger units can process 143,000 gallons per minute.

In addition to paying for the inspections, Perry said, the Levee Authority will spend $100,000 to clean six miles of pipes at the pump station locations. The process must be videotaped and sent to FEMA for further assessment.

Source: http://www.courierpress.com/news/2009/sep/03/inspectors-making-sure-levees-will-keep-city-dry/

Posted by: Rolando Trentini AT 07:00 am   |  Permalink   |  0 Comments  |  Email
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The Trentini Team
F.C. Tucker EMGE REALTORS®
7820 Eagle Crest Bvd., Suite 200
Evansville, IN 47715
Office: (812) 479-0801
Cell: (812) 499-9234
Email: Rolando@RolandoTrentini.com


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